Cezary Podkul
With public spending on infrastructure falling despite rising oil revenues, a sizeable gap is opening in GCC and MENA states between required and available infrastructure financing, opening the window for private investment.
Though the results reflect a slowed investment pace constrained by bank lending, the listed infrastructure fund headlined £50.3m in profits. Managing partner Michael Queen said 3i Infrastructure wants to be part of a Gatwick Airport deal.
While declining to make a declaration of unacceptable circumstances over Lend Lease’s proportional takeover offer for the listed retirement village fund, the Australian Takeovers Panel requested the two parties not execute the first part of their agreement before the shareholder vote on 17 November.
Citing 'exceptional client demand' for its initial foray into infrastructure, the institutional asset manager may seek to raise a second fund in 2009. The UBS International Infrastructure Fund has already made three investments since last year.
What’s the best way to own infrastructure assets? A small, but increasingly vocal, group of open ended fund managers are saying, “Our way”, finds Cezary Podkul.
With announced deal volumes totalling $3bn in the first eight months of the year, the two sectors are proving to be resilient investment targets in a year that has seen Indian private equity deal value drop by 20% through September.
With announced deal volumes totalling $3bn in the first eight months of the year, infrastructure and real estate are proving to be resilient investment targets in a year that has seen Indian private equity deal value drop by 20% through September.
Marking the Latin American infrastructure-focused private equity firm’s largest equity commitment in the region, Conduit will buy a 50% equity stake in Brazilian hydroelectric developer GLEP in a deal said to be in excess of $50 million.
Paul Smith sees increasing interest in co-investment among the firm’s LPs, who have largely upped their commitments for Tenaska’s second US energy fund, TPF II, which closed today on $2.4bn.
Exceeding the initial fundraising target by $900m, the Omaha-based private equity affiliate of energy producer Tenaska Energy will seek to invest the second fund across the same sectors as its first US energy fund, which closed on $838m in 2005.