Cezary Podkul
The Australian infrastructure specialist believes that it will be in a negative net asset position as of 31 December 2008 as a result of impairment charges, which will come from non-core assets being marked-to-market prior to being sold.
The head of Global Infrastructure Partners, a firm formed by Credit Suisse and GE Infrastructure in 2006, explains why the infrastructure asset class is poised for further growth. Among other issues, hear him discuss GIP's deal for London City Airport and why he doesn't like toll roads in InfrastructureInvestor's first multimedia presentation.
The proposed private equity fund will be managed by Prescient Fieldstone Investment Management and target final commitments of $500m. A first close is scheduled on $150m.
The multilateral investment arm of the World Bank committed $300m toward the equity portion of the three-tier facility and will seek additional commitments of $1.2bn to $10bn.
The Latin America-focused private equity firm’s $90m sale of the gas infrastructure facilities represents the second investment realisation from its Latin Power III fund.
Pending a final decision due next year, the UK’s Competition Commission may require British airport operator BAA to sell the two airports in addition to its sale of London’s Gatwick Airport, which is already underway.
Matthew Rose, head of the second largest freight railroad in the US, also believes that private equity firms cannot provide a more attractive cost of capital to railroad assets once they buy them.
The Houston-based energy investor started marketing the fund in the second quarter of 2008 and is targeting $2.75bn in total commitments. A first close was held in July, with subsequent closings since then.
The mid-market energy investor is targeting $650m for the fund, which will also have a 15% allocation to coal investments in China. Quintana recently opened an office in Beijing to facilitate these investments.
The sale of its remaining interest in the Te Rere Hau wind farm in New Zealand is part of the firm's plan to restructure by selling off non-core assets to pay down a debt load of A$3.25bn. Last month Babcock agreed to sell its interest in Portuguese wind assets in a €1.15bn deal.