Qatari Diar – fully owned by the emirate of Qatar – has become the second-largest shareholder in French construction company Vinci with a stake of between 5% and 8%. In exchange, Vinci acquires 100% of service provider Cegelec, which is set to add some €3bn in revenues to the French group.
Europe’s largest insurance company could double its investments in infrastructure and other alternative asset classes – such as private equity and real estate – to €30bn. The new strategy aims to counteract lower returns on traditional investments.
The Portuguese infrastructure fund was launched in 2008 with a target of €500m. Two years on, the fund has completed its fourth investment but is now targeting a less ambitious €200m. InfrastructureInvestor caught up with CEO Manuel Cary to learn about the fund’s strategy in the wake of the financial crisis.
The fund has $107m of initial funding and, in exchange for the payment of premiums, will protect investors against unfavourable policy decisions affecting PPP projects.
The Dallas Police and Fire Pension System’s successful partnership with Cintra on the $2bn North Tarrant Expressway project set a precedent for LPs’ direct infrastructure investment in the US market. Could it be the start of a new trend?
Macquarie International Infrastructure fund has netted just over $50m from the stake sale. Its portfolio is now mostly made up of direct investments in Asia.
Already backed by five European countries, the EIB-managed fund has now pulled in financial support from the UK as it seeks to raise €1.5bn by 2011. The fund will back projects implementing EU policy in areas such as climate change and energy security.
The Kuwait-China Investment Company, part-owned by the Kuwait Investment Authority, is planning to use an office in Shanghai from which to launch private equity vehicles. The firm invests in sectors including infrastructure and real estate.
The world this month 2009-10-30 Staff Writer <P><STRONG>California transportation RFP</STRONG><BR> The State of California has launched a tendering process to choose a financial advisor for its transport PPP projects. It is offering a management fee of $1.5 million for a two-year
The Houston-based developer and fund manager has teamed with the real estate arm of the National Bank of Abu Dhabi as it seeks to increase its exposure to the region.
India’s infrastructure needs are great, but the limited track record of foreign investors in the country, combined with cultural differences, have put off many global institutional investors from investing.
The newly-formed 1Malaysia Development Berhad has teamed up with Saudi-backed investment company, PetroSaudi International to launch a company aimed at co-investing with international investors in projects in Malaysia. Target sectors include energy and real estate.
The sovereign wealth fund of Singapore looks to alternative assets, including real estate, private equity and infrastructure, to mitigate against further losses after its portfolio shrink by more than one fifth in the past year.
Blackstone’s chairman has told the SEC a firm like his would never have reached its level of success, which directly benefits pensioners, without placement agents.
Blackstone’s chairman has told the SEC a firm like his would never have reached its level of success, which directly benefits pensioners, without placement agents.