The Singapore-based, pan-Asian infrastructure fund manager has completed the first deal from its debut fund, which had raised almost $400m last month on its way to a $500 million target.
The Australian toll road operator has unveiled a more than 50% yearly decline in net profits due to a major impairment on its investment in the Pocahontas Parkway in the US state of Virginia. The firm’s Australian assets, meanwhile, have performed strongly.
The investment arm of the insurance giant has bought a 23MW portfolio of residential photovoltaic systems from HomeSun Holdings. Aviva said the renewable deal was ‘one of many we have planned’.
The UK Green Investments team, part of the government’s Department for Business, Innovation and Skills, has awarded a total £100m to UK managers Equitix and Sustainable Development Capital for investment in energy efficiency.
The London office of Hunton & Williams, the US law firm, has promoted Central and Eastern European energy and infrastructure expert Kirk Lovric to counsel. Lovric has been involved in a number of pioneering infrastructure deals in the region.
The Dutch pension asset manager has spent over $300m buying stakes in two Texas toll roads from French fund manager Meridiam Infrastructure. It also committed to the latter’s North American fund.
The European infrastructure fund of Australian manager First State Investments is set to complete its first deal in Finland with the acquisition of Digita from France’s TDF Group.
The Spanish developer has teamed with Portuguese firm Teixeira Duarte to bid for the upcoming privatisation of Portugal’s airports.
The Prime Minister’s office claims to have resolved a major land transfer bottleneck, paving the way for the speeding up of Indian infrastructure projects involving the transfer of government land. Sceptics say bigger problems will continue to hound investors.
GIP now manages the largest-ever infrastructure fund in the history of the asset class. It is also building funds under management at a speed private equity’s largest players could only dream of.
The fund has acquired a 100% stake in the Universidad Politecnica de San Luis Potosi from Spanish developer Acciona.
The Philippine Investment Alliance for Infrastructure, the country’s first-ever infrastructure fund, has closed on $625m backed by the Philippine’s largest pension fund, Dutch pension provider APG, the Asian Development Bank and Macquarie Infrastructure and Real Assets. The latter also manages the fund.
Grenoble University has become the first of France’s circa €5bn public-private partnership university programme to reach financial close. CDC, NordLB and Societe Generale provided debt for the €62m project.
The bank, in which the UK government owns a 41% stake, said it will channel the funds to projects that form part of the government’s infrastructure plan in areas including energy, transportation and other core infrastructure.
The British government’s recently announced £40bn of private loan guarantees for major infrastructure projects comes at a time when the private sector’s reputation for delivering on contracts has just taken a major hit with G4S’ handling of security for the Olympics.