Reyno Norval (pictured), a former energy investment executive in the US and UK, has joined the London office of the private equity advisory and funds of funds manager. He becomes part of the global infrastructure and real assets operation headed by Brad Young.
The listed vehicle said it is placing over 29m ordinary shares to help repay debt used in new acquisitions and capitalise on a ‘buoyant’ PPP/PFI secondary market. Parent John Laing will also seek to sell close to 5% of its 23% share in JLIF in a secondary placing.
The engineering firm has been appointed technical adviser to the lenders on a €101m highway development in Gent. The firm will monitor construction and provide regular progress reports on the project, which it had already provided due diligence for ahead of financial close.
The Dutch infrastructure fund manager has raised its interest in the Dutch Ministry of Finance availability-based project to 94%. It has done so by acquiring shares and shareholder loans from fellow project partner Burgers Ergon.
OMERS, the Canadian pension plan headed by Michael Nobrega (pictured), has reached an important milestone for the Global Strategic Investment Alliance, which it launched in 2009. OMERS, which has committed $5bn to the platform, is joined in the first close by Japan’s PFA and Mitsubishi Corp.
An ability to weather economic downturns is the characteristic prized by investors in airports – as evidenced by Global Infrastructure Partners’ acquisition of Edinburgh
OHL now owns 14.7% of toll road developer Abertis - behind Spanish bank La Caixa (28.5%) and CVC Capital Partners (15.5%) - after ACS sold its entire stake in Abertis for €875m.
The infrastructure fund manager has been appointed by UK Green Investments – part of the UK government’s Department for Business, Innovation and Skills – to manage a £50m portion of an £80m investment fund for green infrastructure projects.
AXA Private Equity has resumed closings for its third infrastructure fund after uncertainty related to the unit’s future momentarily slowed down fundraising. Spin-out talks for the unit are continuing, with a structure emerging that will give management and employees a significant stake in the business.
Alan Ryan (pictured), a Freshfields partner since 2001, has become co-head of the law firm’s global infrastructure and transport sector group in London, succeeding Nick Bliss. He will work alongside fellow co-head Nils Koffka.
Robin Hubbard, formerly an executive director with fundraising responsibility at real estate giant CBRE, has joined InfraRed Capital’s investor relations team to focus on real estate and infrastructure.
The French infrastructure investor – fresh from closing its second, Europe-focused infrastructure vehicle on €935m – is targeting a final close of around $1bn this summer for its North America fund.
James Larmour of Hogan Lovels wonders whether there is political will to give investors the assurances they are looking for amidst the UK government's reform of the NHS.
The partners will use close to $664m in private activity bonds and a $422m TIFIA loan to help finance the project. However, construction costs are not fully funded and are dependent on tolls collected on the existing tunnels during construction.
The business organisation has applauded plans by 34 councils in the UK’s capital to dedicate a combined £2bn to local infrastructure projects. The move is an apparent endorsement of the UK government’s call for more pension involvement in infra funding – but some scepticism remains.