Cezary Podkul
Emmett McCann, an executive director in Morgan Stanley’s infrastructure advisory team in London, will be based in Highstar’s upcoming London office. His career move coincides with the departure of Rob Collins, formerly the head of infrastructure investment banking for the Americas at Morgan Stanley.
The first-of-its kind bid to lease an entire port’s operations for a $500m upfront cash payment and ongoing capital commitments has triggered a 120-day period during which the authority will accept competing proposals. Interest from competing bidders is said to be strong.
John Flaherty told delegates gathered at the Public Private Partnerships USA Summit in Washington, DC that there has never been a more important time for them to be involved in the debate about private investment in infrastructure and urged them to make their voices heard.
Having previously turned down a takeover bid from TPG and Global Infrastructure Partners that valued it at A$2.9bn, the Australian port and railroad operator is considering a number of proposals that could lead to asset sales or a change of control. Concerns over leverage have reduced its market value to A$500m.
Shareholders in the developer of a greenfield concession in Brisbane are obligated to make payments of A$1 per share next month. Watchdogs argue it should delay the payment given uncertainty about its major shareholders’ and underwriters’ intentions to fund the call.
The fund’s official target is $600m, but its GPs are shooting for a more modest $400m in the current environment. The group's first cleantech fund of funds closed on $200m in 2007.
The reductions follow the 1,000 jobs that the Australian investment bank eliminated between September and January. Macquarie Capital Advisors lost the most staff, according to sources.
Ports America, a stevedore owned by Highstar Capital, beat our eight other competitors for a 50 year concession to improve and operate five berths at the California port, the US’ third busiest by container volume. The contract is the first of its kind for US marine terminals.
The Connecticut-based firm is raising its debut $1bn fund that will focus on core capital assets related to the transportation, industrial and energy sectors. Its founding partners previously focused on similar investments at Citigroup.
The world’s largest private manager of infrastructure assets said it will not buy further shares in its specialist listed funds. Macquarie shares hit a 10-year low amid speculation that the firm would have to raise capital amid mounting losses from investments in the funds.