The long-term partnership between the Dutch pension and developer BAM PPP is worth €390m and will target social and transport projects across Europe. BAM will transfer €150m of assets into the new joint venture, with the remaining €240m to be used for new acquisitions.
The BAM/PGGM arrangement is the latest sign of sophisticated pension capital gravitating towards developers rather than GPs.
Commercial close has been reached on the design, construction, financing, maintenance and operation of the Yanino waste processing plant in Saint Petersburg. The 30-year concession agreement signed by subsidiaries of Greek construction group Ellaktor is one of the first Russian PPPs to close outside the transport sector.
The infrastructure investor has acquired a 50% stake in Covage from VINCI. Cube will pay VINCI an initial €30m with a further €36m to be paid over the next three years, contingent on Covage’s results.
The alternative investment arm of Deutsche Bank has raised around €620m of the €2bn to €3bn it is targeting for its second European infrastructure fund. The fund is expected to reach a final close in 2012.
The Bahrain-based fund manager has closed an investment in the Barka 1 Independent Water and Power Project (IWPP). The deal is Instrata’s second investment in a Middle Eastern IWPP and comes ahead of fundraising for a planned second fund.
The Netherlands-based fund manager has appointed Angela Roshier as head of its recently created asset management team. In addition, four new recruits have been drafted in, two of them specialising in finance and the other two in origination.
The Melbourne-based fund manager has managed to attract investments from several Australian institutional investors including Future Fund, Mercer Investments, Qantas Superannuation Plan and Sunsuper. Westbourne has already deployed A$400m in seven infrastructure debt investments.
Following the withdrawal of four Hochtief candidates originally seeking re-election, ACS pushed through its list for the German firm’s board of directors at yesterday’s annual shareholders meeting.
The listed UK infrastructure investor’s latest interim management statement shows its portfolio performing ‘in line’ with expectations. The statement also flags a strong pipeline of opportunities, a small capital raising and a renewal of the firm’s corporate debt facility.
The Canadian investment bank has bolstered its infrastructure and project finance advisory team with the appointments of Sekhar Angepat and Andrew Fleming from Canadian rival RBC Capital Markets.
Our annual ranking of the asset class’s largest investors is now well under way, with some interesting stories emerging from the data.
BBVA, Credit Agricole Corporate & Investment Bank and Natixis have been mandated to arrange £236m in senior secured credit facilities associated with the SITA South Tyne & Wear waste-to-energy Private Finance Initiative.
The UK-based developer has reached financial close on a £203m street lighting PPP contract in Cambridgeshire, England. The 25-year concession will see the firm invest £5m of equity.
Our annual ranking of the asset class’s largest investors is now well under way, with some interesting stories emerging from the data.