Investors in one of Henderson’s infrastructure funds are threatening litigation over mismanagement, while Henderson denies legal liability. Bruno Alves reports on the fallout
Many projects that are eligible for the guarantee – which can cover up to 80% of the debt used to fund public-private partnership deals – have yet to reach financial close. This has led the government to consider extending its application beyond the original closing date of December 31 2010.
The Italian toll road operator has successfully raised €1.5bn via two bond issues but received applications from institutional investors exceeding €4.5bn. The funds raised will allow Atlantia to fund capex and meet its refinancing needs through to 2013.
AMP Capital Investors has acquired the RBS Social Infrastructure Trust, a $74m fund with a portfolio of four social infrastructure public-private partnerships. AMP said it plans to raise more equity for the fund and enlarge its portfolio with similar assets.
If infrastructure is to take the place it deserves in investment portfolios, pensions and their advisers need to think a little outside the box, argues Andy Thomson.
As the focus switches from a highly successful runner recruitment campaign to fundraising, we are delighted to report that the groundbreaking Marathon of Marathons – organised by Campbell Lutyens, PEI Media and UNICEF - has already sprinted past an incredible €1 MILLION of donations. How can you be part of the private equity industries’ most important fundraise of 2010?
The infrastructure secondaries opportunity is still at an embryonic stage but has "developed significantly" according to a report from Partners Group, the Swiss alternative assets manager. UK social infrastructure in particular is on the radar of investors.
Generali, Palladio Finanziaria and Veneto Banca have set up Venice European Investments, a fund targeting infrastructure and private equity. The new vehicle is starting with €400m and is aiming to reach a final close of €600m. It will replace Generali’s Valiance infrastructure fund.
The president of the European Commission has called for new sources of finance to fund European Union infrastructure projects including 'EU project bonds', to be issued together with the EIB, and more public-private partnerships.
US President Barack Obama will announce a transport infrastructure programme calling for at least $50bn of spending upfront. He will also call for the creation of an infrastructure bank that 'would leverage private and state and local capital to invest' in projects critical to the economy.
Infrastructure doyen Vito Gambarale and private equity veteran Carlo Mammola have joined forces with Berger, Lahnstein and Middelhoff to raise €250m for the Italian mid-market.
Dragages Singapore, a subsidiary of Bouygues, and HSBC Infrastructure Fund III have won a contract to build and operate a sports hub in Singapore over the next 25 years. UPDATED WITH FULL BANK LIST.
Inflation hedging is a key driver of infrastructure’s fundraising revival, writes Andy Thomson
The advisory company running the day-to-day activities of the EU-focused €1.5 billion Marguerite infrastructure fund has hired Michael Dedieu, the former head of Fluor’s European infrastructure business, to be the firm’s managing director for transport investments.
Jonathan Davis Arzac replaces chief executive Stephen Mentzines in a reshuffling of the fund’s senior management.