The government is gearing up to launch a vehicle that will allow the capital markets to refinance PPP debt post-construction without exposing them to project risk. The bonds issued will have the same rating as the French state (AAA) in projects where it is the procuring authority.
In the UK, confusion over the lifecycle costs of public-private partnerships is tainting their image. Over the other side of the Channel, a very different view exists
Kamal Nath, named Infrastructure Investor’s global Minister of the Year in 2009 for his ambitious road-building programme, has been switched to the urban development ministry in an Indian government reshuffle. CP Joshi takes over from Nath as roads minister.
The Italian toll road operator has earned the distinction of becoming one of the few foreign companies to win a PPP contract in France. Atlantia will install a satellite-based toll system for heavy vehicles across 15,000km of road, worth over €2bn.
The emerging markets private equity and infrastructure investor has appointed fundraising veteran Marc Nahum as a distribution director for Europe and the Middle East within its investor development group.
Balfour Beatty has reached financial close on the £80m Hertfordshire Schools public-private partnership. The project involves three schools, with the UK developer investing £4.5m of equity into two of them.
Christoph Schumacher has left the firm after six years as the head of indirect investments of the insurance group’s asset management arm. He will now serve as managing director of real estate funds for a large German banking group.
In an exclusive interview, the country’s head of planning said the country wished to take a ‘big leap forward’ with projects in areas such as daycare centres and housing. He acknowledged that deals needed to be better structured than in the past.
The real estate division of Colonial First State Global Asset Management has started fundraising on an investment fund aimed at Australia's 'sub-regional' and 'neighbourhood' shopping centres.
The $18bn gatekeeper has hired Eric Warner to spearhead its fundraising and investor relations activity, as it nears a first close on its debut real assets fund.
The Swiss giant’s global expansion continues. New York-based Karin Hallin will head up a new office in São Paolo, Brazil.
DIF Infrastructure, the Dutch fund manager, has acquired three wind projects in recent months from its latest €571m fund – two in Germany and one in France.
The firm’s latest MENA vehicle, the first of its kind, opens up certain sectors for Gulf-based LPs in Carlyle’s $500m MENA fund.
The Spanish firm has amassed a stake of 30.34% in Hochtief, crossing the 30% threshold it needs to pursue a majority stake on the open market. Acceptance of the takeover offer now ends on January 18.
The Portuguese government has set up an independent workgroup that will re-evaluate its PPP programme and, possibly, renegotiate conditions for signed PPPs. Lisbon’s new airport is unlikely to go ahead as a PPP, with question marks also hanging over the fate of the Lisbon-Madrid high-speed railway line.