A subsidiary of the French infrastructure group will be officially awarded St. Petersburg’s $1.6bn Orlovsky Tunnel PPP next week. The project, which has been in procurement since 2007, will be two-thirds financed by the public sector with the private partner to contribute the remainder.
Was it reasonable to expect anything substantial on the infrastructure front from a pre-election UK budget? Bruno Alves takes a look.
Why are some pensions much keener on infrastructure than others? The role of consultants may be key.
The UK waste manager, owned by Global Infrastructure Partners and Montagu Private Equity, has sent out information memoranda this week for the sale of its landfill gas unit. The sale is expected to net the company around £300m. Terra Firma and 3i are likely to be interested, according to media reports.
Robert McNamara is joining Lend Lease from US construction firm Penhall/LVI, where he is chairman and chief executive. He will take office next month as chief executive and will focus on green building and PPPs.
Why are some pensions much keener on infrastructure than others? The role of consultants may be key.
A new ‘green’ investment bank with funds of £2bn to invest in clean energy projects was unveiled by UK Chancellor Alistair Darling in today’s Budget, together with the creation of an infrastructure strategy up to 2060.
The French infrastructure fund manager has hired Olivier Garnier, formerly of monoline Assured Guaranty, as its chief operating officer for North America and Jean François Marco, from Antin Infrastructure Partners, as a senior investment director, based in Paris.
Australia’s Future Fund, the country’s major sovereign wealth fund, has abandoned bid talks with two Canadian pension funds that had been planning a takeover of the toll road operator. But Transurban suggests the two pension funds may yet put in a revised bid for the company.
In its latest high profile purchase, the National Pension Service of Korea is to acquire Berlin’s landmark Sony Centre from Morgan Stanley’s sixth global real estate fund.
Alistair Darling will unveil the UK budget for 2010 tomorrow, with infrastructure expected to play an important role in stimulating the economy. The latest news indicates that a £2bn green infrastructure fund is on the cards. InfrastructureInvestor.com assesses pre-budget expectations.
Philippe Camu, the European head of Goldman Sachs Infrastructure Partners, is set to join the board of directors of Eurotunnel, the operator of the Channel Tunnel. Goldman became Eurotunnel’s principal shareholder after a share swap last September.
The Australian toll road operator said early last week that it will issue A$250m of bonds to help repay debt – its first Australian bond issue since 2006. Transurban has A$195m of debt maturing in June.
The Brazilian company has bought a 51% stake in a 1,085km gas pipeline in Peru from private equity firm Conduit Capital Partners. Conduit retains the remaining ownership in the $1.5bn pipeline, which is due to start construction in early 2011.
Against a recent fad of country- and sector-specific funds, Glenn Uren, managing director at New York-based Franklin Templeton Real Estate Advisors, underlines the importance of pan-continent real estate investment funds in Asia.