Michael Till, co-head of infrastructure investments at the emerging markets specialist, reveals Actis’ plans for its Indian roads joint venture with Tata and explains why ‘capital has to be very patient in emerging markets’.
The listed infrastructure investment company, known as HICL, has acquired a combined 74.9% stake in the Queen Alexandra Hospital project from Carillion and Royal Bank of Scotland for £46.4m. The acquisition takes the number of infrastructure deals in HICL’s portfolio to 34.
Infrastructure fund managers are devising new fund models more suited to their own needs and those of their investors, finds Andy Thomson.
Infrastructure fund managers are devising new fund models more suited to their own needs and those of their investors.
An independent commission unveiled its recommendations yesterday for setting up a state-backed UK green investment bank. They include the creation of a new category of green bonds to satisfy a ‘real demand’ among pensions and insurers ‘for a new type of long-dated instrument’.
The Dutch construction company has been named preferred bidder for the €260m A12 motorway, in the Netherlands, beating competition from consortia led by DIF and Strabag. Financial close is expected in September.
The consortium, which also includes Star Capital, is now in advanced negotiations to purchase HSBC’s rolling stock unit – valued at about £2bn. The sale is expected to be concluded by the end of summer with a club of over 10 banks providing a staple finance package to the winner.
Economic planning council minister Christina Liu says she wants the private sector to fund 30% of the $124bn the Asian tiger's plans to spend on infrastructure over the next eight years. She is also inviting foreign investors to discover a local debt market with a ‘huge amount of capital available’.
The UK’s coalition government has pledged to continue fast-tracking major infrastructure projects despite abolishing the previous government’s Infrastructure Planning Commission, which was set up for this purpose.
Robert Bain, an independent infrastructure consultant and former credit analyst at Standard & Poor’s, says development banks have a responsibility to discourage poorer countries from embracing certain PPP programmes that are likely to prove unaffordable.
The 30-year fund plans to raise at least €115m to invest in Benelux infrastructure. Unlike their first fund, DG Infra+, the new vehicle will focus on annual cash distributions to investors with the fee structure linked to the fund’s annual yield. Five investors have already committed €80m to the fund, which is targeting its first close in September.
The regulatory change will allow the Indian private equity firm to more easily borrow at lower costs in addition to increasing the amount it is able to lend to third parties.
Capital Dynamics has put itself in the vanguard of what it believes is a major new investment theme.
The Portuguese firm will sell its entire stake in Brazilian toll road operator CCR for €1.2bn – roughly 6.5 times more than the €185m it spent buying into CCR in 2001. It intends to partly use the money to replicate CCR's success in other geographies.
Vancouver Airport Services, a joint venture between Vancouver Airport Authority and Citi Infrastructure Investors, has acquired a 65% interest in Peel Airports, a collection of three English airport assets including Liverpool John Lennon.