The global private markets group has bought into two 90MW wind farms in Thailand, described as ‘the first utility-scale wind farms' in the country. The deals will benefit from an ‘adder’ tariff during the first 10 years of operation.
We explain how we put together the II 30
The Australian investor is still on top by a wide margin, but independent funds have decisively beaten bank-affiliated concerns in the fundraising stakes. Fundraising conditions have also toughened, with the 30 largest investors raising less money over the last five years.
The Melbourne-based fund manager has raised an extra A$400m since last May. Westbourne, which has already invested some A$800m of the fund, expects to reach A$2bn in capital commitments by the end of the year.
The BT Pension Scheme, the UK’s largest pension fund, has become the utility's second-largest shareholder after picking up the stake from two Macquarie funds in a deal arranged by Hermes GPE. Macquarie is still Thames Water’s largest stakeholder with 26% of the utility.
Macquarie Infrastructure and Real Assets will also invest $50m in the fund alongside Manila’s largest state-backed pension fund, which is providing a cornerstone investment of $300m. Two other undisclosed foreign investors are also anchoring the fund.
Aviva Life & Pensions UK, the EIB and the Development Bank of Japan have backed the debt fund’s first close. The Aviva/Hadrian’s Wall Capital vehicle is targeting £/€1bn to invest in low-risk infrastructure across the UK and Europe.
The Spanish company, together with Aveng, will build, own and operate a 135MW wind farm as well as a 74MW photovoltaic solar plant in South Africa.
RREEF has lined up the capital for its second infrastructure fund – which so far has held a first close on some €620m – but these commitments will only trickle through once the sale of Deutsche Bank’s global alternative asset management business is concluded.
The Australian fund manager has won the approval of the South Australian government to acquire a collection of schools under the South Australian Schools public-private partnership project.
The fund has sold its 50% stake in the port to Palisade Investment Partners, after having netted an average return of 24% per year since it bought into the asset in 2000 for $17m.
A consortium led by Macquarie Infrastructure and Real Assets and including British Columbia Investment Management, ADIA and MEAG has bought some 12,000km of gas pipelines, known as Open Grid Europe, from German utility E.ON.
The Julian Robertson (pictured) backed infrastructure fund is currently hunting for a first deal to help unlock a fundraising that could reach $500m. The fund held a first close last September and has currently raised some $175m.
The Hong Kong-based private equity real estate firm’s decision to expand its investment horizons to include private equity and infrastructure is understood to have contributed to founder and chief executive officer Rong Ren’s decision to resign.
The Canadian pension has teamed up with Utilities Trust of Australia to offer A$1.25bn for Australian gas pipeline operator Hastings Diversified Utilities Fund, larger than a previous hostile bid from Australia’s APA Group. The latter has, however, extended its offer to Hastings for another two months.