Spriha Srivastava
London-based listed fund manager, Intermediate Capital Group, is likely to expand its operations to asset classes such as infrastructure and real estate.
3i Infrastructure has signed a credit facility of £200m for a period of three years. The facility has been arranged with a syndicate of five banks including Lloyds and RBS, among others.
The Cerre de Hula wind energy plant in Honduras should be operational in 2012 and is expected to generate 6% of the country’s power.
3i Infrastructure has reported in its half-yearly results that its portfolio income generation has increased to £30.5m, more than double the portfolio income generated in the previous corresponding period.
Indian firm GVK has sold a 21.1% stake in its energy business to 3i Infrastructure and a second buyer for $260m. 3i will pay $182m, amounting to around a 16% stake in GVK, with the other investor covering the remaining.
The UK-listed specialist investment manager, Impax Asset Management Group, has announced the second closing of its European renewable private equity fund on €259m.
Spanish infrastructure group Ferrovial has agreed to sell its airport ground handling company Swissport International to Paris-based private equity firm PAI Partners for €654m. The transaction is expected to close by the end of the year following approval from the competition authorities.
A BNP Paribas fund has reached financial close on a €93.5m senior debt for the construction of a 30-megawatt solar photovoltaic power plant in Italy. The project is expected to be operational in the first quarter of 2011.
The World Bank Group, in cooperation with the Islamic Development Bank, is looking to set up a regional initiative to help bridge an infrastructure gap in the Middle East and North Africa. The initiative is expected to raise $1bn.
Indian airport operator GVK Power and Infrastructure is understood to be in talks with several private equity investors to raise up to $600m for its airport and energy businesses. The company is believed to be offering a sale of up to 30% in its airport business to private investors.