The law firm and consultancy are in talks with their UK pension clients to develop an infrastructure debt fund, possibly focused solely on UK infrastructure.
With about one-tenth of the close to $10bn raised by infrastructure funds in 2012 allocated to debt funds, these vehicles have finally arrived.
The London AIM-listed infrastructure fund focused on investments in India has announced plans to place £40.88m of ordinary shares as it seeks to help its portfolio companies overcome the deterioration in India’s capital markets.
Aviva Investors and Germany’s SachsenFonds have bought the 49.4MW Almatret wind farm in Lerida, Spain from Element Power. The insurer was recently involved in the ‘UK’s largest residential solar deal’.
Global Infrastructure Partners made a big contribution as infrastructure fundraising picked up in the second quarter of 2012 after a subdued first three months. Debt funds also made their mark, with four such vehicles accumulating significant capital.
The UK-listed debt fund manager says in a trading statement it is considering ‘near term funding options’ amid what it sees as strong investor demand. The firm has notably been earning more from lending senior debt than subordinated debt.
Manish Aggarwal is the firm’s new investment and operations director – based in London – whereas Jake Houseman has been appointed senior vice president for the North American infrastructure team, based in New York.
Private equity firm Clearbrook Capital is reported to be part of a consortium attempting to buy the UK waste management firm, which was acquired by Montagu Private Equity and Global Infrastructure Partners for £1.7bn four years ago.
Limited partners are increasingly willing to rebuff fund managers who do not offer reduced fees, according to an exclusive PEI survey.
The Singapore-based, pan-Asian infrastructure fund manager has completed the first deal from its debut fund, which had raised almost $400m last month on its way to a $500 million target.
The investment arm of the insurance giant has bought a 23MW portfolio of residential photovoltaic systems from HomeSun Holdings. Aviva said the renewable deal was ‘one of many we have planned’.
The UK Green Investments team, part of the government’s Department for Business, Innovation and Skills, has awarded a total £100m to UK managers Equitix and Sustainable Development Capital for investment in energy efficiency.
The Dutch pension asset manager has spent over $300m buying stakes in two Texas toll roads from French fund manager Meridiam Infrastructure. It also committed to the latter’s North American fund.
GIP now manages the largest-ever infrastructure fund in the history of the asset class. It is also building funds under management at a speed private equity’s largest players could only dream of.
The fund has acquired a 100% stake in the Universidad Politecnica de San Luis Potosi from Spanish developer Acciona.