Jordan Stutts
In the third instalment of our Deep Dive into PPPs, we look at North America and find the private sector has to help the model transition to a more developer-owned or managed scheme.
The energy-focused vehicle will have a similar strategy to the firm’s previous fund, which is now fully invested.
The New Jersey-based firm missed its target by $1.7bn but reported billions of dollars in co-investment opportunities for a North America-focused strategy.
The US presidential candidate unveiled a ‘community-driven’ plan that would encourage local governments to fix existing infrastructure and invest in major, long-term projects.
Wallace is replacing Blake Hutcheson, as he transitions to chief executive of the C$97bn Canadian pension fund, according to an internal memo.
But interest from the private sector was strong with 18 firms expressing interest in operating Lambert airport under a PPP agreement that would have generated $2bn in net proceeds for the city.
The creation of an infra-dedicated team is in response to infrastructure’s strong appeal, which made it the fastest-growing asset class in 2019, according to an internal memo.
Investors seem concerned about an increasingly uncertain world, but capital keeps on pushing into new markets.
Firms are showing that capitalising on bad trade news today could lead to valuable dividends in the future.
The New York-based firm collected commitments from 240 global LPs, a strong sign that 'investors like the asset class, like the opportunity set,' GIP’s chairman said.