Isolux Corsán chairman Luis Delso met with Brazilian president Dilma Rousseff to discuss Isolux’s plans to list its recently formed worldwide concessions unit on the Brazilian Stock Exchange. The business has a capital expenditure of €7.5bn for all the projects in which it is currently involved.
The Merseyside Pension Fund, ‘the fifth-largest local authority pension fund in the UK’, has made the commitment as part of its growing infrastructure portfolio. The pension has about £60m invested in the asset class, but wants to raise its total infrastructure portfolio to £100m.
Aviva Investors, the London-based asset management division of the insurance and pension provider, has announced the first closing of a European renewable energy fund in partnership with SachsenFonds, the Munich-based asset management company.
A new report commissioned by the Association of Superannuation Funds of Australia says that superannuation funds’ investments in infrastructure could more than quadruple from the current A$45bn to A$200bn by 2025 ‘on the basis of likely asset allocations’.
Saigon Asset Management has announced plans to establish and raise capital for a new fund that will invest in thermal and hydropower projects and companies in Vietnam, Cambodia and Laos. It is expecting to raise at least $300m.
The investment, INPP’s ‘largest single commitment to date’, will see the listed fund acquire stakes in 48 projects from the now-defunct Building Schools for the Future (BSF) programme. The purchase will add to INPP’s existing 106 schools, with schools now comprising 32% of its portfolio value.
The Swiss private markets investor has acquired a stake in Madrileña Red de Gas, the Spanish gas distribution company that was bought by Morgan Stanley Infrastructure Partners and Galp Energia in an €800m deal last year.
A survey out this week highlighted the attractive aspects of infrastructure investing against a backdrop of stagflation. But is this really something to celebrate?
The Italian infrastructure investor was said to be seeking €100m in damages over the failed placement of an infrastructure fund in 2007. Both parties say the dispute has been resolved ‘amicably’, without mentioning if any damages were paid.
Transport projects that reached closure with private participation increased by 40% in value terms last year in 16 low- and middle-income countries around the world. The return to pre-Crisis levels of activity was primarily due to roads projects, the majority of them in India.
A subsidiary of the private equity group has secured the backing of nine banks to help fund the €1.2bn project – ‘the first German wind farm to be fully financed by private investors’. Blackstone has also acquired a licence to build another offshore wind farm worth €1.3bn.
The Spanish developer is considering listing up to 30 percent of its concessions business, which was responsible for 76% of the group’s EBITDA in its 2011 half yearly results. The concessions unit manages 28 concessions, including more than 4,400km of highways, mostly in Latin America.
The Swedish investor has taken a majority stake in Peregrine, a US natural gas storage company, in a transaction that will allow Peregrine to fund the completion of its first storage facility. Around a week ago, EQT struck a major natural gas transmission deal in its home market.
The project, known as Arenales, is a 50MW power plant just starting construction near Seville and thought to be worth between €300m and €400m. The sellers were German renewables firm Solar Millennium and OHL Industrial, part of Spanish developer OHL.
Northumbrian Water's directors have said yes to an acquisition offer from a consortium led by Cheung Kong Infrastructure. The deal is being funded with close to £2.2bn of equity. To avoid breaching UK competition law, Cheung Kong sold another UK utility it owned to HSBC for close to £75m.