John Laing has announced a radical shift in its infrastructure investment model that will include targeting core-plus deals, managing third party capital, and relying less on European PPPs. The London-listed and PPP-focused company said on 25 November that it will start to invest in mid-market core-plus economic infrastructure deals in sectors including

A regional director of origination responsible for distributed generation at NextEra Energy Resources has left and is set to resurface at a solar developer. Dynamic Energy Solutions, a Wayne, Pennsylvania-based solar developer, has hired Sebastian Jano, a regional director of origination responsible for distributed generation at NextEra Energy Resources

Victoria’s AUD 562m (USD 410m) Frankston Hospital upgrade PPP has received expressions of interest (EOI) from at least four groups, including from rearranged consortia that bid for the new Footscray hospital project, sources said. Lendlease and subsidiary Capella Capital have formed a consortium with Aware Super (formerly First State Super) and Honeywell,

A new company led by ex-OHL Concesiones CEO Juan Luis Osuna Gómez is seeking to raise approximately USD 500m to invest in Latin American highway concessions. In an interview with Inframation News, Managing Partner Osuna said he has created Americas Road Fund (ARF) to participate in tenders for smaller-end Brazilian road concessions, which won’t require

Binding bids for Enwave Energy Corp’s US and Canada business units are coming due in mid-January, said three sources familiar with the situation. The auction has attracted bids offering to take down both units together, but multiple sources said the auction’s sellside bankers ScotiaBank and TD Securities are still taking bids for either segment. Read

The New South Wales government is offering its minority share of the WestConnex motorway in two separate 24.5% slices to encourage investors to bid against majority shareholder Sydney Transport Partners, the state announced today. The government on Monday called for registrations of interest for the first 24.5% stake as it launched the split sale. A separate

AustralianSuper has appointed industry veteran Philippe Lenoble to head its infrastructure activities in its London office, part of a broader international expansion at Australia’s biggest superannuation and pension fund.  Lenoble, a former managing director of Goldman Sachs infrastructure investment group and senior MD with the Caisse de dépôt et

Spanish company Cointer presented the only bid for the Red Aeroportuaria Austral project in Chile, according to a government press release. The government intends to open economic bids on 22 December and aims to award the project in 1Q21. Read More

John Laing’s Australian office has made some personnel changes in the past month, leading to two departures. Asset director, George Karalis, has left the business after three years at John Laing helping to oversee various John Laing investments, including Sydney Light Rail, Perth Stadium, Finley Solar Farm, Cherry Tree Wind Farm, the East Rockingham

Castleman Power Development has closed equity and debt financing that supports a pair of peaking generation projects located in Texas. Castleman Power Development has closed equity and debt financing for two 100 MW peaking generation projects located in Texas. Read More

London-listed infrastructure investor John Laing has added to its expertise as it broadens its range of investment targets, appointing industry veteran Susan Shehata as senior advisor.  Shehata, who was most recently global co-head of infrastructure and real estate finance based in London at HSBC, will advise John Laing’s investment committee and help

Phillip Mak, global head of infrastructure, specialised and acquisition finance at National Australia Bank in Melbourne, has left the bank, he confirmed. Mak, who had worked for NAB for 23 years, will start looking for a new role next year. Read More

Mitsubishi UFJ Lease & Finance (MUL) and Hitachi Capital will integrate their operations next April. As a result, MUL could more than triple the value of its overseas infra assets, while Hitachi Capital unlocks opportunities at home, reports Hiroyuki Kachi In September, Mitsubishi UFJ Lease & Finance (MUL) and Hitachi Capital reached an agreement to integrate

Infracapital has made another move into the electric vehicle (EV) sector, agreeing a GBP 150m investment in Zenobe, a UK specialist in charging infrastructure for electric buses. The infrastructure equity investment arm of asset manager M&G said on Friday (13 November) that the investment will support the growth of Zenobe’s electric vehicle and charging

Energy developer Glenfarne has reached an exclusivity agreement for the acquisition of the 205 MW gas-fired power generation facility Termovalle in Colombia. Glenfarne and the sponsors of the project reached the exclusivity agreement in recent weeks, according to three sources familiar with the situation. If the transaction is completed, the plant would

New South Wales is considering selling its lottery tax income to help fund its growing infrastructure pipeline, which is forecast to reach AUD 107.1bn (USD 78.4bn) over the next four years. About 67% of this spending is on transport projects and the state’s infrastructure budget now eclipses even the national government’s promise of AUD 110bn made

AES Corp. and Alberta Investment Management Corp. (AIMCo) have agreed to merge sPower’s development platform with AES' US clean energy development business. The deal was announced in a 17 November press release. Read More

The holding company for a John Laing and Equitix-owned UK biomass plant has entered administration, the second to do so in recent weeks. Cramlington Renewable Energy Developments Hold Co Limited has appointed PWC’s Jeremy Webb and Zelf Hussain as administrators, according to filings on UK registrar Companies House. Read More

An auction is under way for a US commercial and industrial (C&I) and community solar-focused developer Pivot Energy. An auction is under way for Pivot Energy, a US commercial and industrial (C&I) and community solar-focused developer. Read More

Listed fund manager New Energy Solar has formally launched the sale of two solar farms in New South Wales after consulting with prospective buyers. A six-point pitch contained in a teaser that SparkSpread has seen for the sale of the 55 GW Manildra Solar Farm and the 110 MW Beryl Solar Farm describes them as a “rare opportunity” to invest in utility-scale

OMERS Infrastructure is putting up for sale its 49% stake in a 595 MW portfolio of operating contracted wind farms in the US. OMERS Infrastructure is putting up for sale its 49% cash equity stake in a 595 MW portfolio of operating contracted wind farms in the US, sources familiar with the situation told SparkSpread.  Read More

The Chinese state-owned company State Grid International Development, a subsidiary of State Grid Corporation of China, has agreed to acquire Chile’s largest utility from Spanish energy company Naturgy. State Grid will acquire a 96.04% stake in Compañía General de Electricidad (CGE), a utility that covers 45% of households in Chile, according to a

China Tianying has appointed three European banks to work on a proposed sale of a minority stake in Spanish environment company Urbaser, according to two sources familiar. The energy-from-waste company has mandated Crédit Agricole CIB, Société Générale and Deutsche Bank as financial advisors, they said. The two French banks are the leading advisers,

Indian business conglomerate Reliance Industries has agreed to invest up to USD 50m in a US-based clean energy solutions fund - Breakthrough Energy Ventures II - set up by billionaire Bill Gates and other investors. The fund, registered with the US Securities and Exchange Commission (SEC) earlier this month, aims to raise a total of about USD 870m,

Managing director for Latin America Power, Utilities and Infrastructure investment at Jefferies Iván Oliveros is leaving the firm’s New York City office. Oliveros will terminate his role at Jefferies in November, said three sources familiar with the situation. Sources did not provide details about Oliveros’s next project. Read More

Canadian infrastructure powerhouse Brookfield has quietly slipped onto Sydney Airport's share register with a small minority shareholding.  The trade occurred before Sydney Airport raised AUD 2bn (USD 1.45bn) of equity in August because Brookfield was invited to participate in the entitlement offer, which UBS managed.  Read More

Colombian President Iván Duque Marquez has announced that the government is working on a new renewables auction to be held in the country in the first quarter of 2021.  President Duque revealed the plan on 10 November during the inauguration of the Bayunca 1 solar park located in Bolívar.   Read More

Macquarie Infrastructure and Real Assets (MIRA) - the world's largest infrastructure manager - is planning to launch a global impact fund, according to three sources familiar. The strategy will target a fundraise of approximately USD 1bn and will seek to invest in sectors that enable social and community progress, as well as energy transition, said

Blackstone made a private equity investment in Cheniere Energy Partners back in 2012. Since then, Cheniere has converted Sabine Pass into the first LNG export facility in the US and, earlier this year, Blackstone Infrastructure and Brookfield bought a USD 7bn stake in the company, reports Andrew Vitelli  If one wanted to pick a site to symbolize the

OMERS Infrastructure European asset management specialist Ines Grund has recently left the manager, sources said.   Grund, who held the title of director at OMERS, left the manager due to a “personal reason to return to [her native] Germany”, one of the sources said. She worked alongside a team of senior directors focused on asset management. Read

The founder of Hastings Funds Management, Mike Fitzpatrick, is raising an AUD 500m (USD 365m) infrastructure fund aimed at individually wealthy investors. The TRUE Infrastructure Fund will use a fund-of-fund model to invest in pools of capital managed by Australia’s Infrastructure Capital Group (ICG) and ATLAS Infrastructure, Fitzpatrick told Inframation

A consortium of Abertis and Manulife Investment Management has agreed to acquire the Elizabeth River Crossing (ERC) concession for roughly 39x its annual EBITDA. The deal was announced on 9 November. Read More

RBC Trust Ltd, a subsidiary of RBC Financial Caribbean Limited, has committed USD 10m to a fund operated by German asset manager MPC Capital AG. RBC Trust is investing the capital into a Caribbean-listed feeder vehicle managed by MPC to further grow a portfolio of renewable assets, according to a 9 November press release. Read More

Global Infrastructure Partners, Brookfield Infrastructure Partners and CDPQ have formed a consortium to bid in PPL’s upcoming sale of UK electricity distribution network operator Western Power Distribution. It is the second international financial consortium to emerge in the sale. Read More

Enwave Energy narrowed down the field of bidders in its ongoing auction amid an improving outlook for future performance, said two sources familiar with the situation. Brookfield Infrastructure Partners has structured the auction to include bids for both Enwave’s US and Canadian arms together or separately. Read More

Macquarie Group today reported its first-half earnings, showing its infrastructure and investment banking arms weighed down by slowing M&A completion rates. Net profit for Macquarie Asset Management (MAM), the division that Macquarie Infrastructure and Real Assets (MIRA) is a part of, dropped 5% on year in the six months through September to AUD 1.06bn

Verdeep Dost, a senior infrastructure staffer at Hermes Investment Management, has left the manager, following news of the recent departure of partner Robert Wall.  Dost, a senior vice president in the manager’s infrastructure arm, left at the same time as Hermes infrastructure partner Wall in a “concurrent” process last month, two sources familiar

Sydney-based infrastructure investment banker, Joel Chalhoub, will move to Jefferies from Lazard in December, two sources familiar with the situation confirmed. He will work with Tim Foy, Jefferies managing director and head of power, utilities and infrastructure. Read More

Equitix, First Sentier Investors and the investor consortium behind Cory Riverside have submitted first round bids in Macquarie Infrastructure and Real Assets' sale of Wheelabrator Technologies' UK energy-from-waste portfolio, sources familiar with the development told SparkSpread. Hong Kong-headquartered CKI Infrastructure, which is being advised

An investor group led by Dutch pension fund manager APG is considering launching a debt refinancing of a pair of power plants located in New York City. An investor group led by Dutch pension fund manager APG is considering launching a debt refinancing of the Astoria Energy I and II power plants in New York City. Read More

Investment firm KKR has agreed with a subsidiary of NextEra Energy Inc. to invest USD 1.4bn via two separate transactions to acquire equity interests in portfolios of contracted utility-scale wind and solar assets. KKR will acquire interests in 1.625 GW of renewable energy assets, according to a 2 November press release. Read More

Beijing Infrastructure Investment (BII), owned by the Chinese capital's municipal government, today said it will acquire a German rolling stock company in its maiden overseas takeover.  BII, which specialises in metro projects, said it has cleared all the regulatory hurdles for its investment in LogoMotive Gmbh. The acquisition is part of the Chinese

Brookfield Renewable Power is putting up for sale a 391 MW portfolio of wind farms in California and New Hampshire and a 137 MW collections of Golden State wind farm projects that should be commissioned in 2022. TD Securities and SMBC Nikko Securities are jointly advising on the sale and within the past few days began approaching potential investors,

Australian financial services company AMP Ltd today said that a bid for the firm by US-based Ares Management suggests an implied value of AUD 1.85 per share, and a price tag of more than AUD 6.3bn (USD 4.4bn). This is a premium to AMP’s share close of AUD 1.53 on Friday, when it surged 20% after a stock exchange filing by the ASX-listed company confirmed

For media-shy infrastructure funds investing in essential services it can be difficult to avoid the spotlight. Recent shifts in society are making it even harder, report Colin Leopold and Katherine Steiner-Dicks  The mainstream media is taking an increasing interest in the media-shy world of infrastructure funds. Read More

Hermes Investment Management infrastructure has lost one of its key personnel, partner Robert Wall (pictured), a year after a management shake-up of the manager and amidst an elongated fundraise.  Wall, who joined Hermes four years ago from CPPIB, resigned in recent days from his directorship of a string of UK companies backed by the UK manager, and

两位知情人士称，Stonepeak Infrastructure Partners计划将其首发的全球可持续基金以及第四个基础设施旗舰基金先后结束募资。 上述消息人士补充称，这家总部位于纽约的管理公司预计将在2021年上半年为Stonepeak全球可再生能源基金募资20亿美元，为Stonepeak基础设施基金IV募资120亿美元。 Read

US private equity firm, Ares Management Corp, has made a bid for ASX-listed AMP Ltd for an undisclosed price, AMP confirmed today. “AMP today confirms that it has received an indicative, non-binding, conditional proposal from Ares Management Corporation, a US-based company, to acquire 100% of the shares in AMP Limited by way of scheme of arrangement,”

Apollo reached an “initial” close on its second infrastructure fund having raised USD 865m as of 30 September, according to the asset manager’s 3Q20 earnings press release. The fund, Apollo Infrastructure Opportunities Fund II (AIOF II), had so far deployed USD 92m. Read More

Aberdeen’s Latin America-focused Andean Social Infrastructure Fund I LP has received antitrust approval to acquire the Francisco L. Madero Refinery, according to a recently published regulatory filing. The Aberdeen fund will acquire indirect ownership of the asset by purchasing GEPIF II Master Refineries Holding B.V. for an unspecified amount from Global

After dramatic swings in Q1 and Q2, total fundraising volume for the year is only just off the same period in 2019. And following in the footsteps of GIP and Brookfield, four new funds are targeting over USD 12bn, reports Pablo Martinez Much like the infection rates and social restrictions that have characterised the year so far, fundraising volumes in

A financial advisor has launched a sale process for a portfolio of battery storage projects located in the California ISO (CAISO). Guggenheim Securities has launched a sale process for a portfolio of battery storage projects that Able Grid Energy Solutions is developing in the Los Angeles Basin area of the California ISO (CAISO). Read More

AMP Capital is planning to bid on the sale of TX Australia’s (TXA) television broadcast infrastructure network, sources familiar with the situation said. Final bids on TXA - owned 50-50 by two of Australia’s main commercial TV stations, Seven West Media and Nine Entertainment - are due at the end of October, although this is subject to change, said

International investors including Canada’s Ontario Municipal Employees Retirement System (OMERS), Warburg Pincus and Macquarie have participated in the IPO of Philippines broadband provider Converge ICT Solutions. The company raised approximately PHP 29.1bn (USD 602m) from its listing on the Philippines stock exchange, with over 80% of the investment

Singapore-based Keppel Corporation's data centre unit has partnered with two gas companies for the procurement of liquefied natural gas (LNG) and hydrogen to power a potential floating data centre park (FDCP) project in the city state. Keppel Data Centre and Singapore's City Gas and City-OG Gas Energy Services signed a Memorandum of Understanding (MoU)

A team comprising Plenary and Sacyr has been selected as the preferred proponent for a public-private partnership (P3) concession for the central utility plant at the University of Idaho, said three sources familiar with the transaction. The deal is expected to be finalized by the end of the year, said one of the sources. Read More

European investment manager Plenium Partners and Spanish bank Bankinter are set to put up for sale the assets of their first fund, comprising a gross 581 MW portfolio of renewable generation plants in Spain.  Citi is advising on the sale and recently began sounding out potential bidders, sources familiar with the situation told SparkSpread. Read

Australia-listed renewables fund New Energy Solar has put its two Australian solar farms up for sale following the outcome of a strategic review. The fund's boards today said that the 111 MW Beryl solar farm and the 56 MW Manildra solar farm will be sold, both of which are located in New South Wales. A competitive auction will begin in January 2021

Macquarie Infrastructure and Real Assets is in talks to form a consortium with Dutch fund manager APG and Canada’s PSP Investments to bid in PPL’s upcoming sale of UK electricity distribution network operator Western Power Distribution. Macquarie Infrastructure and Real Assets is in talks to form a consortium with Dutch fund manager APG and Canada’s

Brazilian bank BTG Pactual has issued preliminary prospectus to raise funds for two new infrastructure investment vehicles, according to regulatory filings. The documents describe the creation of the debt fund BTG Pactual Dívida Infra FIP-IE and the equity fund BTG Pactual Infraestrutura Dividendos FIP-IE. Read More