In its latest six-monthly results announcement, the listed UK infrastructure investment firm has applauded government programmes designed to ‘ensure that important public infrastructure is delivered in a timely and efficient manner’ – highlighting the UK and Australia in particular.
The New York-headquartered law firm has appointed Clive Ransome as a partner in its global project finance group based in London. He was previously a partner at rival firm Linklaters.
The Singapore-based fund manager is reported to have completed the second deal from its debut fund – within a month of tying up the first. This time, it has invested in a $320m transaction in India’s hydropower sector.
The Islamic investment firm has acquired Dubai International Capital’s shareholding in the MENA Infrastructure Fund. The latter also counts HSBC Bank Middle East and Waha Capital as investors.
With about one-tenth of the close to $10bn raised by infrastructure funds in 2012 allocated to debt funds, these vehicles have finally arrived.
Olivier Schubert brings more than 14 years of infrastructure experience as he joins Hastings Funds Management’s European equity team, in London. He was previously a senior vice president at Macquarie Capital Europe.
The fund manager, through its Australia Social Infrastructure Fund, has bought a 49.9 percent stake in the A$800m LEAP 2 project from Plenary Group. Palisade is now a co-investor in the project, as well as predecessor LEAP 1, alongside Plenary and the Caisse de depot et placement du Quebec.
The UK construction giant described its performance in the first half of 2012 as a ‘solid result in challenging markets’ – an outcome assisted by disposals of PPP assets, which proved more lucrative than expected.
Aviva Investors and Germany’s SachsenFonds have bought the 49.4MW Almatret wind farm in Lerida, Spain from Element Power. The insurer was recently involved in the ‘UK’s largest residential solar deal’.
The government will tender close to 7,500km of highways and 10,000km of railways to the private sector, with nearly $40bn of projects to be awarded over the next five years. Airports and ports will soon get their own programme, the government said.
The UK venture capital firm, which has been ramping up its exposure to renewable energy, has made its first move into hydropower by teaming with Dragon Hydro to develop a 300KW project in Wales.
Brisa’s main shareholders now control the majority of the company. But their IPO failed to net them the 90% needed to de-list the toll road operator from the Lisbon Stock Exchange.
The UK-listed debt fund manager says in a trading statement it is considering ‘near term funding options’ amid what it sees as strong investor demand. The firm has notably been earning more from lending senior debt than subordinated debt.
Manish Aggarwal is the firm’s new investment and operations director – based in London – whereas Jake Houseman has been appointed senior vice president for the North American infrastructure team, based in New York.
Limited partners are increasingly willing to rebuff fund managers who do not offer reduced fees, according to an exclusive PEI survey.