Jordan Stutts
Highly leveraged midstream companies are likely to default on loans, but natural gas, which has not seen commodity price volatility like oil has, is one bright spot.
As the industry hunkers down in the wake of the coronavirus pandemic, we speak to GPs, LPs and others to discuss asset class resiliency, the impact on new firms and opportunity assessment.
Daniel Zinic, who will be based in London and join the firm early next month, had assisted Stonepeak in raising its debut fund in 2012 while working at placement agent FIRSTavenue.
Commitments for co-investments and SMAs outpaced capital raised for ECP IV due to the large cheque sizes Asian and Middle Eastern LPs contributed to the fund.
A decade ago, an infrastructure manager would have been hard-pressed to market a core strategy featuring data assets and renewables. Today, Brookfield is embracing both sectors, as infra boss Sam Pollock tells us.
The vehicle is already 45% invested and is targeting upper mid-teen returns from water assets and other 'essential' infrastructure.
The funds offer investors two strategies of varying risk and are targeting gross returns ranging between 9% and 14%.
The NY-based firm has hired Brookfield Infrastructure’s European head, Jonathan Kelly, to source opportunities in the region for its open-ended BIP fund.
The firm’s fourth flagship vehicle exceeded its $17bn target and is already 40% deployed, with $3.6bn invested in digital infrastructure.
The US firm has been preparing for the new strategy since last May when it hired former BlackRock infrastructure debt chief Erik Savi.