The German group will list its Australian construction unit – now known as Valemus – in July in a bid to raise up to A$1.4bn.
The listed vehicle – GCP Infrastructure Investments – will be floated on the London Stock Exchange and will serve as a feeder fund for the GCP infrastructure fund, launched around this time last year. It aims to provide subordinated debt to UK PFI projects.
The senior management of HSBC’s infrastructure and real estate arm is in talks with the parent bank regarding a management buyout. The deal would leave HSBC with a 20% stake in its specialist unit and would pre-empt expected regulatory changes that could impact banks’ ownership of private equity vehicles.
KKR’s recent East Resources exit – coupled with HitecVision’s specialist energy fund close this week – is further evidence that the energy sector remains active and vibrant for private equity investors, writes Christopher Witkowsky.
The French construction giant has posted first-quarter 2010 results showing a big reduction in its net debt but a slight fall in its operating profits and sales.
Scottish and Southern Energy and Borealis Infrastructure, the infrastructure investment arm of Canadian pension OMERS, have scaled down their joint bid for EDF Energy Networks, the UK electricity network of French energy group EDF. The two firms will not now seek an ownership interest ‘that would need to be funded by issuing new shares’.
Pantheon Ventures has a shiny new management structure backing its $4bn in dry powder. PEI catches up with one of the world’s largest fund of funds managers.
Private capital in Egypt looks set to have a more important role to play after the Parliament passed a bill allowing private participation in public projects. The government also announced the setting up of 21 investment zones to be operated by private players.
The Australian fund manager is reported to be aiming to raise its funds under management over the next two years from A$2bn to $A8bn.
The Canadian transportation firm has bagged the contract to build, supply, operate and maintain a MONORAIL system in Riyadh, Kingdom of Saudi Arabia. The project is scheduled to complete in 2012 has an estimated total value of $241m.
The Austrian construction company has released results for the first quarter of 2010 showing a double-digit revenue decline on the back of a ‘long and hard winter’ but improving EBIT and EBITDA figures.
A consortium including the German developer has won the contract to build a new prison facility in Victoria, Australia. The project is the first Victorian public-private partnership to be awarded under new Australian PPP guidelines.
The two infrastructure funds and the port operator have cited economic uncertainty and the difficulty in valuing the target’s assets as the reasons for declining to pursue a takeover of the Scottish ports owner. The consortium, which owns a combined 27.4% stake in Forth, had seen three offers rejected.
The $200bn fund has completed its purchase of landmark building, the Sony Center, on Berlin’s famous Potsdamer Platz road, from Morgan Stanley Real Estate Investing.
Italian infrastructure fund F2i has teamed up with local utility Iride for a takeover bid for Genoese water company MdA. Following the takeover, the partners will consolidate MdA and stakes in other water utilities in a special purpose vehicle, in which F2i plans to hold a share of up to 40%.