The EU-focused infrastructure investment firm, which is currently raising its debut fund, has appointed three independent members to its management board and investment committee. This follows swiftly from three new hires at Marguerite Advisor, the fund’s advisory company.
The listed Australian infrastructure investor, which is jointly owned by RREEF Infrastructure and Cheung Kong Infrastructure, has concluded a strategic review by deciding to embark on a new capital raising exercise rather than sell full or partial stakes in its management company and/or investee firms.
Zug-based Partners Group is building up its team to deploy its largest ever pool of direct investment capital. The firm specialises in private equity, infrastructure, real estate and debt.
Oppenheimer Investments Group, the Zurich-based project finance adviser, has appointed veteran private equity real estate lawyer Iain Morpeth, who spent 23 years at Clifford Chance, as its new global chief operating officer. Among his mandates, Morpeth advised on the sale of the Millennium Dome.
A research note from UK stockbroker and advisory firm Oriel Securities has delivered a vote of confidence to listed infrastructure funds with exposure to the UK’s Private Finance Initiative (PFI), despite fears over the impact of a reduction in the number of new projects.
The Colombian energy group has concluded the purchase of a 60% stake in Cintra Chile for $290m with an option to buy the remaining 40% later. The deal was delayed for several months following the Chilean earthquake.
Nigeria’s National Pension Commission has issued proposals that would allow Nigerian pension plans to invest for the first time in infrastructure bonds, infrastructure funds and private equity.
Exxon Mobil and Shell are selling two sets of gas storage assets in Germany with different profiles but the lack of long-term concession contracts for one set of assets is causing infrastructure investors to walk away from the deal or consider realignment with industrial partners.
The Spanish construction firm has unveiled an all-stock offer to acquire full control of German infrastructure group Hochtief, in which it already owns close to 30%. ACS is offering eight of its own shares for every five Hochtief shares.
More than 220 projects currently underway in Poland may end up being procured as public-private partnerships (PPPs), a report from the Polish PPP Centre says. During the first half of 2010, Polish local authorities have announced 38 PPP projects, up from the 34 announced throughout 2009.
Investors in one of Henderson’s infrastructure funds are threatening litigation over mismanagement, while Henderson denies legal liability. Bruno Alves reports on the fallout
The initiatives are among several - including support of a state bill forcing placement agents to register as lobbyists - designed to ‘restore confidence, integrity and accountability’.
The consortium has beaten competition from another team led by Allied Irish Bank and Strabag to be named preferred bidder for the M17/M18 Gort to Tuam motorway public-private partnership.
The UK airports operator has almost fully repaid a £1.57bn subordinated debt facility and lowered a £2.2bn bank term loan facility to £1.75bn of outstanding debt. BAA repaid debt using new bank facilities and proceeds from a recent bond issue.
AXA Private Equity, Goldman Sachs and Macquarie are said to have submitted binding bids for the sale of Endesa’s 4,100-kilometre Spanish gas distribution network earlier this week. The deal could be worth over €700m.