Cezary Podkul

The switch from a vehicle fuel tax to a vehicle miles traveled tax would be complemented by a range of financing mechanisms like expansion of the TIFIA credit program and more support for PPPs, according to the National Surface Transportation Infrastructure Financing Commission’s final report to Congress.

The New York-based infrastructure fund manager will pay $526.5m in cash for a 50% stake in the Haynesville Expansion joint venture, which is being sponsored by midstream energy partnership Regency Energy Partners.

The New York Stock Exchange-listed Macquarie satellite will use cash accumulated from the dividend suspension to accelerate reduction of its $1.8bn debt burden. It may also seek bankruptcy protection for its heavily indebted airport parking business, which has seen revenues erode due to slower airline traffic.

Former Lehman Brothers investment bankers Michael Meyers and Sean Fitzgerald have joined Macquarie’s private placement team, where they will focus on raising equity for transactions.

Losses of 19.5% in public markets and 13.7% percent in private equity were partially offset by gains of a 6% gain in real estate. The Canadian pension plan, one of the country’s largest, is now valued at C$44bn, versus C$52bn at the end of last year.

The Canadian pension's negative returns of 19.5% in public markets and 13.7% in private equity were partially offset by gains of 11.5% in infrastructure and 6% in real estate. OMERS' assets are now valued at C$44bn, versus C$52bn at the end of 2007.

The 2008 Mercer Asset Manager Fee Survey found that fees for alternative strategies like private equity fund of funds and infrastructure held steady throughout 2008, but the firm expects them to come under pressure in 2009 due to investor dissatisfaction.

Draft legislation in circulation on Capitol Hill envisions a 'National Infrastructure Reinvestment Corporation' that would spur $48bn of infrastructure investment by providing grants, loans and tax incentives to select projects sponsored by public, private and non-profit entities.

The struggling infrastructure specialist has a 13 person team in India, which it may wind down as it seeks to sells assets globally to repay the A$3.2bn it owes to a syndicate of 25 lenders.

The sale reduces the private equity firm’s stake in its infrastructure investment group from approximately 43% percent to 33%.