Pantheon Ventures has a shiny new management structure backing its $4bn in dry powder. PEI catches up with one of the world’s largest fund of funds managers.
S&P has cut the Portuguese toll road operator’s credit rating to BBB- on the back of revised economic prospects for Portugal. Brisa has reacted to the downgrade, accusing the ratings agency of not giving it enough time to adapt to changed liquidity criteria and saying the cut doesn’t reflect its credit strength.
The fund, sponsored by a number of European and North African banks, has reached first close on €385m. InfraMed is targeting €1bn to invest primarily in greenfield infrastructure in the southern and eastern Mediterranean region.
Paris-based Antin Infrastructure Partners is due to reach its third close next week on a little less than €700m. Several new investors are thought to have joined the fund, which is sponsored by BNP Paribas and is targeting €1bn.
The Canadian pension is understood to have sold its 12% stake in Australian toll road operator Transurban for A$710m, following the latter’s recent rejection of a takeover bid submitted together with CPPIB and CP2.
Mid Europa Partners, the London-based private equity firm focused on Central and Eastern Europe, has made its first investment in renewable energy since the firm decided to make it a core target sector nine months ago.
Emerging markets investor Ashmore and power trading firm PTC India have unveiled their new joint venture aiming to raise $750m to invest in energy infrastructure across India.
A year after launching a secondaries desk, the global inter-dealer broker will start fundraising for private equity, hedge fund and other alternative investment vehicles.
Two new investors have joined the Natixis-sponsored fund as it holds its fourth close at just over €700m, placing it on track to reach a final close of €1bn by the end of June.
The Australian toll road operator has picked up the distressed road for A$630m – almost A$1bn less than the original consortium paid for it three years ago. Canadian pensions CPPIB and OTPP, which are bidding for Transurban, are reportedly angry with the purchase as they plan to meet with Transurban today to discuss a revised takeover bid.
Confirming an earlier report, a source says Global Infrastructure Partners is gearing up to start fundraising for its second infrastructure fund. The new vehicle is reportedly aiming for between $5bn and $6bn.
The Italian infrastructure investor is suing Citigroup over the failed placement of an infrastructure fund in 2007. It is said to be looking for €100m in damages, according to the local media. Citi denies any wrongdoing and says it will 'vigorously defend' itself.
Aravis Energy, a Zurich-based venture capital firm, has sold LuciaWind, a Spanish wind farm operator, to Swiss utility EBM. The deal is illustrative of the trend for entrepreneurs and VC firms to roll up renewable energy plants into portfolios they can sell to utilities and large infrastructure funds.
The advisory company running the day-to-day activities of the EU-focused €1.5bn Marguerite infrastructure fund has hired David Harrison, formerly of Macquarie, to serve as chief financial officer and William Pierson, a former partner at Santander Infrastructure Capital, to be the firm’s managing director for energy investments.
Morrison & Co and Craigs Investment Partners’ social infrastructure vehicle has raised NZ$41m from its IPO, about 33% of the $125m they originally intended to raise from the share offering.