In a statement released today, Abdulrahman al-Saleh, director general of Dubai’s department of finance, distanced the financial position of the state from the debts of Dubai World, a ports and real estate investment conglomerate it owns.
The latest draft of the EU’s Directive on Alternative Investment Fund Managers would apply to private equity and venture managers both large and small.
The private equity firm needs to win over 3% of shareholders to proceed with its revised take-private bid, which has been rejected by the energy company’s board.
In the emerging growth economies of the East, the debate over infrastructure fund economics is less topical than in Western markets.
Private equity resources channelled into the third sector have helped improve the lives of 18,975 young people, says Shaks Ghosh.
The Hastings Infrastructure Debt Fund III will predominantly lend junior debt to infrastructure projects and businesses in sectors such as utilities, transport, telecommunications and social infrastructure.
On the day that MENA rival Abraaj Capital raised $375m from shareholders, Cairo-based Citadel has unveiled plans for a public listing.
The new owner designate of London Gatwick Airport has announced that David Rowlands, a former head of Britain’s Department for Transport, is to chair the company from December.
The MENASA-focused firm will use the new capital to seed new funds and possibly make strategic acquisitions.
In 2009, Americans have received warning after warning that their governments face alternatively a ‘decade of debt’ or a ‘lost decade’ due to massive, painful and protracted budget deficits that are here to stay. Opportunities are abound for infrastructure investors - but so are the pitfalls.
The €10bn listed Italian toll road operator has made investments in Chile, Brazil and India amounting to more than 800km of road during 2009. It will only accelerate its overseas investment activity, however, when it has ‘greater financial flexibility', says chief executive officer Giovanni Castellucci.
The Kuwait-China Investment Company, part-owned by the Kuwait Investment Authority, is planning to use an office in Shanghai from which to launch private equity vehicles. The firm invests in sectors including infrastructure and real estate.
The National Pension Service of Korea has agreed to buy HSBC’s headquarter building in London’s Canary Wharf in what will be one of the biggest single asset transactions of 2009.
Contrary to what one might expect, a lot of managers are finding 2009 to be a good time to launch an infrastructure fund. From curious investors in emerging markets to helping hands from governments, there are plenty of reasons to be planning a roadshow.
A side-by-side comparison of the House and Senate draft legislation for the regulation of US private investment funds, by Nathan Greene and Jesse Kanach of law firm Shearman & Sterling.