The successful bidder will design, build, finance, operate and maintain all rail assets, as well as lease the rolling stock to the railway operators.
The vehicle remains open to new commitments but is no longer being marketed to new investors.
The first close total will include money committed from Saudi Arabia’s Public Investment Fund.
The French firm has acquired the Canadian pension’s Airports Worldwide platform, growing its European portfolio in the sector and entering the US air transport sector.
The firm is eyeing a first close in June, following backing from industrial partners, as it focuses predominantly on European greenfield.
Jake Lee, head of infrastructure at Hyundai Marine & Fire Insurance, is still willing to take the lower returns that come with core infra, but currency headwinds are steering the Korean insurer away from US dollar assets.
Partners Group will scour the globe and mix and match funds in its search for relative value. Brandon Prater, head of private infrastructure Europe explains why the firm is strengthening its fundraising bench, what it won’t do in a tightly priced market and why it’s not averse to an early exit.
Infrastructure and real estate investors are teaming up as a wave of capital washes over the sector, fuelled by a booming digital economy.
The French fund manager has exited its concession at the London hub in a deal believed to value the site at close to £1bn.
The investors purchased the minority interest in GFL, one of the largest North American players in the sector, from another group of equity holders – valuing the business at $4bn.
The CDP-backed Italian gas utility – along with Belgium’s Fluxys and Spain’s Enagás – has emerged as the preferred bidder for a majority stake in the Greek transmission operator, agreeing to pay €535m.
Seaports, oil terminals and toll roads currently owned by the country’s corporates are good targets for infra funds, argues Marunouchi Infrastructure director Satoshi Mukoyama.
The bid for CityFibre comes four years after an IPO raised £16.5m, with the pair believing the company ‘better suited’ to private ownership.
Now that infrastructure debt has become a popular asset class among Japanese institutions, fee and fund structures are drawing their attention.
Canadian renewables firm Boralex snaps up the 163MW operating portfolio and 170MW pipeline.