Cezary Podkul

What could be the first long-term lease of an entire US port has met a challenge from two major private equity groups, whose proposals will be considered alongside a bid by CalPERS-backed CenterPoint.

The $119bn pension’s new ‘absolute return’ asset class will include infrastructure investments and could lead to a search for a manager to run the investment programme. The move is part of a wider asset allocation shift to be unveiled at its August meeting after CalSTRS saw its portfolio value tumble 25 percent over the last year.

Support is growing within the House Transportation and Infrastructure Committee to create a dedicated federal funding source for the nation’s wastewater infrastructure, which faces a necessary investment gap of up to $400bn over the next decade.

An exclusive gathering in California hosted by Stanford University sheds light on what pensions are seeking from infrastructure managers – and what the pensions might do if they don’t get what they want, writes Cezary Podkul.

The Guy Hands-led firm is one of several investors interested in PD Ports, the UK port operator owned by Babcock & Brown Infrastructure. CVC, HgCapital, Carlyle and Star Capital are also reportedly interested in the asset.

Limited partners should cast aside traditional categorisations of risk and re-think expected returns and fees, according to a white paper published by the placement agent. The paper also identifies 70 funds in the market for $100bn, of which 55 are first-time managers.

The deal gives the energy and power private equity firm a management team of 80 professionals across four cities and the development rights to a 4,000-megawatt portfolio of wind power in 11 states.

Citadel portfolio company TAQA Arabia has won a $165m gas distribution contract in Libya, while Dina Farms, an Egyptian dairy backed by the firm, has successfully secured $36m in debt financing.

After a busy month spent whizzing across New York from one industry gathering to the next, Cezary Podkul reports back with his Top 10 insights into the key trends in infrastructure

The New York State Asset Maximisation Board envisioned by the state’s Asset Maximisation Commission bears similarities to other project delivery organisations in the US and Canada, but at its heart lies something unique: strong, central authority for fast-tracking public-private partnerships.