The international law firm has relocated London partner Christopher Cross to Dubai, where he will continue to be part of the firm’s infrastructure and project finance practice. Hogan Lovells has announced a number of moves in recent months designed to beef up its presence in key jurisdictions.
Peter Jacobs has replaced Cheryl Fisher as the EIB’s new head of project finance for Western Europe. Fisher leaves the role to become the bank’s head of energy.
The fund’s last investment comprised £23.5m of subordinated loans to five UK healthcare and accommodation projects. London-based Gravis expects to tap the market again later this year for a fresh round of fundraising.
Make no mistake - ‘developer funds’, listed and unlisted, are competing against GPs on fees, while still providing LPs with asset management services.
The two firms are teaming up to build an electricity interconnector linking the UK to France. The project is worth €250m and is expected to boost capacity across the Channel by 25%.
Sir Adrian Montague, chairman of 3i Group, has been appointed by the UK government to chair the advisory group that will help it set up a Green Investment Bank. The bank will start investing in April 2012 and will be able to borrow by 2015 or 2016.
The Austrian developer has taken a 51% stake in two holding companies to develop, build and operate offshore wind power plants. The holding companies will develop up to 850 wind power facilities in the German North Sea over the next 10 to 15 years, with a total capacity of around 4,000MW.
The infrastructure investor and the Spanish developer will each invest $200m in a joint venture targeting Indian transport infrastructure. The partnership already has $1.6bn of highways under construction and is in the running for several other road projects.
InfraRed Capital Partners, the management team that spun out of HSBC at the beginning of this month, has completed its first infrastructure deal since then – advising HICL Infrastructure and Kajima Partnerships on the acquisition of three PFI stakes from Kier.
The Swedish investor is acquiring Acciona Aparcamientos, which manages 29 car parks and 16,000 parking spaces in Spain and Andorra. EQT’s €1.2bn infrastructure fund will be about 60% invested when its first Spanish investment closes in July.
The BAM/PGGM arrangement is the latest sign of sophisticated pension capital gravitating towards developers rather than GPs.
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.
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 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.