French fund manager AXA Private Equity will spend €330m to acquire a 23.48% stake in Luxembourg utility Enovos from ArcelorMittal. The investment comes from its third infrastructure fund, which is currently being raised and had collected around €900m by the end of April.
London-listed fund manager International Public Partnerships Limited is expecting to launch a placing, open offer and offer for subscription of new ordinary shares by the end of June this year, with the aim of raising £180m.
The French infrastructure fund manager is gearing up to launch the follow-up to its first, €1.1bn debut vehicle – which is close to being 75% invested. Fund II will be roughly the same size as Fund I, although Antin said ‘there is room for us to increase the size of a second fund’.
The listed vehicle said it is placing over 29m ordinary shares to help repay debt used in new acquisitions and capitalise on a ‘buoyant’ PPP/PFI secondary market. Parent John Laing will also seek to sell close to 5% of its 23% share in JLIF in a secondary placing.
OMERS, the Canadian pension plan headed by Michael Nobrega (pictured), has reached an important milestone for the Global Strategic Investment Alliance, which it launched in 2009. OMERS, which has committed $5bn to the platform, is joined in the first close by Japan’s PFA and Mitsubishi Corp.
The infrastructure fund manager has been appointed by UK Green Investments – part of the UK government’s Department for Business, Innovation and Skills – to manage a £50m portion of an £80m investment fund for green infrastructure projects.
ACS said today that it is in ‘advanced negotiations’ to sell its 10% stake in Abertis, valued at €920m, to the toll road developer and a ‘third party’. Abertis will pass part of the acquired shares to Spanish company OHL, in exchange for acquiring its Brazilian and Chilean toll roads portfolio.
AXA Private Equity has resumed closings for its third infrastructure fund after uncertainty related to the unit’s future momentarily slowed down fundraising. Spin-out talks for the unit are continuing, with a structure emerging that will give management and employees a significant stake in the business.
Epuron, the wind development business owned by London-listed Impax Asset Management, has more than doubled its German operating wind park portfolio with an acquisition in the east of the country.
The French infrastructure investor – fresh from closing its second, Europe-focused infrastructure vehicle on €935m – is targeting a final close of around $1bn this summer for its North America fund.
James Larmour of Hogan Lovels wonders whether there is political will to give investors the assurances they are looking for amidst the UK government's reform of the NHS.
Most of the investors in the French fund manager's second, European-focused infrastructure fund are institutional investors from Asia, Australia, Europe and North America that have not invested with the firm before.
The French fund manager has closed its second infrastructure fund, raising €300m more than it did for its first infrastructure vehicle, which closed in 2008. Meridiam is said to be still fundraising for its $1bn North America-focused fund, which is scheduled to close in summer.
Infrastructure boss Macky Tall reveals the pension is ‘currently developing a strategy on how to play the emerging market opportunity’ as the Caisse seeks to grow its 12-person infrastructure team to closer to 18 people.
The Paris-based fund manager – together with Acciona and Cintra – has been awarded a 30-year concession for a stretch of Spain’s A66 highway. The road deal is Meridiam’s second in Spain, after the same team signed up to build a €150m portion of the A334 freeway in Almeria.