The Australian group, together with France’s Eiffage, has obtained a €2.8bn, five-year loan in addition to a €720m revolving credit facility. Moody’s deemed the refinancing ‘moderately credit positive’, but warned the toll road network’s Baa3 rating might be revised in the future.
The AMP Capital Infrastructure Debt Fund has announced a fourth close on €326m, just two months after reaching third close. Having announced its first UK pension investor at the end of last year, it has now hooked its first US pension.
The UK bank’s infrastructure funds team is in 'the advanced stages' of raising the equivalent of €400m for two separate sterling and dollar-denominated funds, following the successful close of its debut European greenfield infrastructure fund.
The secondaries market can be an important tool in portfolio management – but only when pricing makes sense, the US pension’s CIO recently told PEI.
The recent collapse of Hungarian airliner Malev, which accounted for some 37% of Budapest Airport’s annual business, could trigger a compensation claim from the airport concessionaire of up to $3.6bn. Hochtief owns 49.7% of Budapest Airport.
The fund, which is managed by private equity firm EMP Global, is to sell its interest in the Amman East independent power plant to The Qatar Electricity and Water Co. The deal is expected to conclude in the first quarter of this year.
The Department for Health has set aside the necessary funds – to be made available over 25 years – to help a number of hospital projects meet their debt commitments.
In one of the largest commitments ever made by a US institution to an infrastructure fund manager, the California State Teachers’ Retirement System has pledged a total of up to $500m to Australia’s Industry Funds Management.
Philippe Camu, until now head of European infrastructure, has become the global head of Goldman Sachs’ infrastructure team, as current leader Steven Feldman retires. Camu is now also the chief investment officer of Goldman Sachs’ two infrastructure funds.
The New South Wales government has pledged to invest A$175m in the troubled Reliance Rail rolling stock public-private partnership – which counts AMP Capital, International Public Partnerships and RBS as investors – to reassure its creditors ahead of a planned draw down.
The French fund manager has hired Bruno Candès (pictured) as an investment director to help raise its second mid-market European infrastructure fund. The hire is part of a ramp-up in staff that sees Infravia also hire talent from Amber Infrastructure and ETDE.
The former global head of Lloyds’ project finance team (pictured) has become the chief executive of the bank’s infrastructure funds platform, which has recently closed a greenfield European infrastructure fund. WestLB’s Chris Heathcote is now Lloyds’ new global head of project finance.
The investment arm of the World Bank and the UK government are investing a combined $153m to kick-start the IFC Climate Catalyst Fund, described as a private equity fund of funds targeting clean energy projects across the world.
The London-listed infrastructure investment firm, which is advised by InfraRed Capital Partners, is expecting to undertake a share issue in March. The money raised will pay down a revolving debt facility deployed when HICL paid £143m for PPP/PFI assets from Barclays.
The UK pension has kicked off its debut infrastructure allocation with £70m worth of investments to KKR and IFM. The allocations amount to 3% of the pension’s portfolio.