With 2012 coming to an end, it is looking likely that it will be remembered as the year the infrastructure debt market truly took off.
The French private equity firm is targeting a final close next February on between €1.2bn and €1.3bn and has already invested at least €500m of the capital raised
The Australian developer has appointed Mark Menhinnitt CEO of a newly created construction & infrastructure division, which includes controversy-hit subsidiary Abigroup. Two unnamed Abigroup executives forced to stand aside during an investigation have left the business.
Syd Bone has stepped down as managing director at Sydney-based fund manager CP2, a role he was appointed to in September 2010. Bone will have a new role with the firm that will enable him to work from his home city of Melbourne. A new MD is being sought.
A second Ferrovial and Sacyr-managed concession - the AP36 Ocana-La Roda - has gone bust, following last month's bankruptcy of Madrid's R4 ring road. It is the third Spanish road to start Chapter 11 proceedings.
A five-strong banking group has replaced previous financing which was put in place in 2005. The UK's Bristol Airport is owned by Macquarie European Infrastructure Fund and Ontario Teachers Pension Plan.
The UK’s second-largest pension has lent £100m of 25-year inflation-linked debt to utility South East Water - its first ever infrastructure debt investment.
The UK alternative asset manager has bought the equity and loan note interests in Northern Ireland’s Drumglass high school PFI. The money has come from Foresight’s £33m Infrastructure VCT Shares, the largest VCT fundraising in 2011/12.
Europe has a problem with PPPs – there aren’t many. Even the UK’s shiny new procurement model may struggle to find applications
The French bank has teamed up with Ageas to help the insurance company build a €2bn infrastructure debt portfolio over the next two to three years.
Adebayo Ogunlesi, chairman and managing partner of Global Infrastructure Partners and former Credit Suisse executive, has joined eight other independents on Goldman Sachs’ board of directors. GIP closed the world’s largest-ever infrastructure fund on $8.25bn earlier this month.
Three deals, including the last of France’s high-speed rail PPPs, accounted for over 52% of the €6bn in projects closed during the first half of the year. France continues to be the largest market by volume, with the UK taking the top spot for number of deals closed.
A consortium comprising Macquarie Capital, Denys and Imtech has been named preferred bidder for the €100m Livan 1 light rail project in Belgium. Financial close is expected in the next two months.
The London-based fund manager, which targets operational UK Private Finance Initiative (PFI) projects, has reached a significant fundraising milestone with the support of five investors. It has already allocated £89.5m to a portfolio of 19 PFI assets.
The firm has raised £144m through its London-listed debt fund, more than doubling the size of the vehicle after seeking to raise in excess of £80m. One-third of the new money, which will be deployed over the next six months, came from new investors.