International Public Partnerships, the UK-based listed infrastructure fund, has acquired stakes in nine UK private finance initiative deals for close to £11m. The fund, which raised £100m last year, is considering ‘some fundraising toward the end of the year,’ said director Giles Frost.
Among other sectors, the private equity firm's new Sub-Saharan investment group will cover infrastructure and will be led by StanChart’s former head of African private equity, Marlon Chigwende, and former Ethos partner Danie Jordaan.
BNP Paribas and National Bank of Greece have been appointed to advise on an extension of the 20-year concession to operate Athens Airport, currently held by Hochtief. The government also plans to sell stakes in its public gas monopoly and several water companies, among others.
The India-focused debut infrastructure vehicle sponsored by the private equity arm of ICICI Bank is nearing its first close with commitments from Indian and Asian limited partners and strong interest from European and Canadian investors.
The leading businessman has been appointed a founding partner of fund manager Ancala Partners, the London-based start-up founded by former Macquarie Capital veteran Spence Clunie.
The UK-based venture capital and infrastructure investor has raised £70m for a waste and recycling fund that will target projects in London, and which is supported by London Mayor Boris Johnson. Foresight hopes to eventually raise £200m for the fund.
The Swiss investor has closed Partners Group Global Infrastructure 2009 with commitments from pensions, insurers and endowments, among others. The vehicle already counts 17 investments in its portfolio.
A consortium comprising Macquarie and several superannuation funds has refinanced £626m of debt for Moto Hospitality, a UK service stations operator, via £450m of new bank debt and £176m of high-yield bonds.
The European infrastructure fund manager has just reached first close for its second fund. BNP Paribas contributed €100m with ABP and Greater Manchester pension fund also as investors.
The bank's investment is a significant contribution toward the first close of the Aviva-backed subordinated debt fund. The close scheduled to take place during the first half of the year, according to chief executive Marc Bajer.
GPs springing fund extensions on their investors should beware a cool reception, writes Andy Thomson.
Ireland needs to embrace public-private partnerships in order to compensate for a steep fall in state investment over the coming years as a result of the dire condition of the country’s public finances. This is the recommendation of a study by financial services firm KPMG and a leading business and employer association.
First State Investments, the asset management arm of Commonwealth Bank of Australia, has moved from an evergreen structure for its European Diversified Infrastructure Fund to a 15-year fund with an option for investors to vote for five-year extensions.
KKR’s managing director of European infrastructure has resigned from his position. It is not yet known where he is going to next.
The European Commission and the EIB plan to use guarantees and subordinated loans to enhance the creditworthiness of private sector infrastructure bonds to investment-grade rating, aiming to recapture a €100bn market that dried up following the global financial crisis.