The Australian fund manager has hired David Cooper to help build out its infrastructure debt team for the UK and Europe. Cooper was in charge of raising Barclays’s debut £500m UK infrastructure senior debt fund, which has been on ice for the better part of a year.
Universities Superannuation Scheme has hired Steve Deeley away from UBS to serve as investment manager for infrastructure at the UK pension fund. It has also promoted senior analyst Rob Horsnall to the same position.
The Dutch pension fund provider has acquired 60% of University Partnerships Programme from funds managed by Barclays Infrastructure Funds Management.
The infrastructure fund, dedicated to infrastructure investments in the southern and eastern Mediterranean region, will help develop a 114MW wind farm project together with EPGE. The project is Jordan’s first privately financed wind farm.
The UK bank’s infrastructure funds team has reached a significant milestone on its way to raising a planned £250m for investment in UK greenfield projects. The bank closed a European fund earlier this year and is also in the market with a US-focused vehicle.
The issue proceeds will be used to partly finance the acquisition of three assets in the UK and the Netherlands. The fund manager might also seek to raise a further £25m to help finance a third-party acquisition.
Vinci, OHL and Autostrade are some of the international names that have submitted pre-qualification documents to bid for Turkey’s oft-delayed $5bn to $6bn roads privatisation package – which includes Istanbul’s two suspension bridges. October 31 is the final bidding deadline.
The French fund manager has entered into exclusive negotiations with Bouygues to buy over 2,000 telecommunication towers.
Brett Himbury, head of Australia’s Industry Funds Management, warns pensions that while investing directly in infrastructure might save money on fees, it can end up costing them more money through lower returns.
A Foresight-managed government-backed renewable energy fund has completed its first investment in a £21m food and green waste processing plant in Dagenham. The fund is investing in the run-up to the £3bn Green Investment Bank, expected to open for business later this year.
Infrastructure Investor recently gathered six leading infrastructure asset class professionals together in London for a discussion of the investment climate in the UK. For all the government’s apparent best intentions, those present were frustrated by a lack of opportunity.
The GCP Infrastructure Fund is offering credit protection on a portfolio of 20 UK PFI loans worth £307m. The structured deal allows the bank to free up capital to grant new loans.
The consortium has secured an £88m loan from Bank of Tokyo Mitsubishi, KfW and DZ Bank to help fund an initial £100m of works to refurbish and maintain several hundred kilometres of roads and pavement across the London Borough of Hounslow. The total contract is worth £650m.
The John Laing Infrastructure Fund has posted solid results for the first six months of the year, growing its portfolio value by 4.5%. Other highlights of the half year include raising £31m of new equity and six new investments.
The Islamic investment firm has acquired Dubai International Capital’s shareholding in the MENA Infrastructure Fund. The latter also counts HSBC Bank Middle East and Waha Capital as investors.