A survey out this week highlighted the attractive aspects of infrastructure investing against a backdrop of stagflation. But is this really something to celebrate?
The Chinese sovereign wealth fund is in ‘advanced exclusive talks’ to acquire a €2.3bn minority stake in a unit of the French utility. The two firms have also agreed to explore co-investment opportunities in gas, power, and water and waste across Asia Pacific.
In a research report, Swiss private markets investment firm Partners Group has recommended investing in real assets and companies amid what it describes as a ‘stagflation-type scenario’ in parts of the advanced world.
The Italian infrastructure investor was said to be seeking €100m in damages over the failed placement of an infrastructure fund in 2007. Both parties say the dispute has been resolved ‘amicably’, without mentioning if any damages were paid.
Australia’s Future Fund reported an increase in its infrastructure, real estate and private equity holdings in the three months to June 30. However, Its overall return for the quarter slid 3.3 percent to 0.6 percent, excluding its holding in Telstra, the Australian telecommunications company.
The consortium, which also includes Italy’s Astaldi and Turkey’s Ictas Insaat, has been named preferred bidder to construct and operate the central section of the St Petersburg Western High-Speed Diameter toll road, the largest project launched within Russia’s PPP framework.
A consortium led by the Turkish airports operator has been named preferred bidder to more than double passenger capacity at Saudi Arabia’s Medina International Airport. The build-operate-transfer contract will last for 25 years.
The Franco-Dutch consortium has been awarded a 20-year contract with no traffic risk to widen and refurbish a 46.5km section of Germany’s A9 motorway. Financial close on the availability-based contract is expected over the next couple of months.
Transport projects that reached closure with private participation increased by 40% in value terms last year in 16 low- and middle-income countries around the world. The return to pre-Crisis levels of activity was primarily due to roads projects, the majority of them in India.
A subsidiary of the private equity group has secured the backing of nine banks to help fund the €1.2bn project – ‘the first German wind farm to be fully financed by private investors’. Blackstone has also acquired a licence to build another offshore wind farm worth €1.3bn.
The Spanish developer has sold nine wind farms with a capacity of close to 215MW to two funds managed by Canepa Asset Management. Last month, ACS sold 90% of two solar plants to Antin Infrastructure Partners and RREEF.
The developer has reached financial close on a £230m contract to provide various street lighting services to Northamptonshire County Council over a 25-year concession period. It is the sixth such deal it has struck with English councils.
A senior US politician has shone a spotlight on the need for more private investment in his country’s infrastructure. But, as the US market opens up, fund managers must stay level headed
The Canadian pension has agreed to acquire Babcock & Brown Gates Parking Investments, ‘one of the largest parking management companies in North America’, managing over 400,000 parking spaces. The deal is expected to close later this year, but the purchase price was not disclosed.
The Spanish developer is considering listing up to 30 percent of its concessions business, which was responsible for 76% of the group’s EBITDA in its 2011 half yearly results. The concessions unit manages 28 concessions, including more than 4,400km of highways, mostly in Latin America.