The Infrastructure Industry Foundation has been set up to unite the infrastructure industry in donating funds to worthy charitable causes close to the industry. Please join us for the inaugural fundraising event on 9th October 2019 at The Science Museum, London for a dinner & auction to help fight back against Adenoid Cystic Carcinoma.
French investment bank Natixis has named Helena Radzyminski as head of investment banking for Latin America, a spokesperson confirmed. Radzyminski previously served as managing director for loan syndications at the bank. Before that, she held positions at Standard Bank, Fleet Bank and BankBoston. Prior to Radzyminski’s appointment, the
Aberdeen Standard Investments’ buyout of the Carlsbad Desalination Plant will be partially funded by holdco debt from a South Korean life insurance company, said two sources briefed on the situation. That same insurer is also providing a co-invest on the deal with Aberdeen Standard. As reported, Aberdeen-Standard won an auction to acquire
Infrastructure veteran Frederic Michel-Verdier has left IFM Investors after more than a decade at the global fund manager. IFM wrote in an emailed statement to Inframation that Michel-Verdier left at the end last week to “pursue personal business interests”. Michel-Verdier, who was not available for a comment, is expected by sources
Australia's Colonial First State Global Asset Management (CFSGAM) will soon close a sixth funding round for its Global Diversified Infrastructure Fund (GDIF) to take it to around USD 3bn from about USD 2.4bn now, sources familiar with the situation said. CLARIFICATION: This article was amended to show the number of new investors in the sixth
Bidders for I Squared Capital's 1.4GW Asia Cube power, and water portfolio - spread across China, South Korea, Taiwan and Vietnam - last week submitted proposals in a second round, according to sources familiar with the matter. There will be a bidding round in a few weeks because Asia Cube has added 70-80MW of Taiwanese solar capacity to the portfolio,
A consortium led by Plenary Group was selected as the preferred proponent for the Miami-Dade County Civil and Probate Courthouse P3 project, according to a 3 September press release. The consortium, Plenary Group USA Concessions, comprises Plenary (developer, financial sponsor), Tutor Perini (design-build contractor) Johnson Controls (operations
Arcus Infrastructure Partners and UBS Asset Management are among infrastructure fund managers preparing final offers for Foresight Group’s UK smart meter business, sources said. Sources close to the process said that Foresight Metering, which is being advised by RBC, received initial offers in August from UK smart meter companies and infrastructure
Three consortia that lodged expressions of interest in the North East Link motorway PPP have advanced to the bid stage, according to sources familiar with the matter. The government is likely to name the shortlist for the AUD 7bn-AUD 9bn (USD 4.7bn-USD 6bn) project in the next couple of weeks and issue an RFP in September, according to a spokesperson
China Everbright Overseas Infrastructure Fund (COIF) recently reached final close at USD 450m after securing commitment from Korean insurer, ABL Life Insurance, as the final LP. This is below the USD-denominated fund’s initial target of raising up to USD 1bn at its launch in 2016. The vehicle raised about USD 400m as of the end of last year.
In 2015, China’s President Xi Jinping said direct investment by Chinese companies in Latin America would reach USD 250bn over the next decade, in areas such as agriculture and livestock, as well as energy and infrastructure. Chinese firms are already investing in Peru, especially in the mining and infrastructure sectors, and in late 2018 China
Arjun Infrastructure Partners (AIP) is beefing up its asset management capabilities with the recruitment of Adam Delaney from venture capital investor Scottish Equity Partners (SEP). Delaney is due to join Arjun in early September, alongside Campbell Lutyen’s Nick Spencer, who has been recruited to head UK fundraising efforts, according to a source
Global Infrastructure Partners (GIP) has concluded discussions to buy RattanIndia’s 350MW solar portfolio for an enterprise value of about INR 16.64bn (USD 250m), two people familiar with the matter said. The deal is likely to be announced next month, they said, with one adding that the transaction will double GIP’s India solar portfolio to
Sydney-based investment banking boutique Ironstone Capital yesterday said it is rebranding itself as ICA Partners. The exercise recognizes that Ironstone has grown into two distinct businesses: A Brisbane-based coal advisory section and a renewables and infrastructure advisory segment located in Sydney. Michael Siede, Aaron Simcock, Al
Taiwan's government is planning to finish the first draft of the third phase of its offshore wind development agenda by the end of August, months earlier than the original date scheduled for the end of the year. The Ministry of Economic Affairs (MoEA) will look to submit the plan on how to award the new offshore wind capacity from 2026 to 2030 for
Infrastructure Ontario shortlisted three teams for the QEW Credit River Bridge P3 project, according to a 12 August announcement. The three teams shortlisted are : Keystone Transportation Partners • Applicant Lead - Peter Kiewit Sons ULC & Dufferin Construction Company • Construction Team - Peter Kiewit Sons ULC
Denver International Airport (DEN) announced on 13 August that it is terminating its contract with Great Hall Partners (GHP) for the Denver Airport Great Hall (Jeppesen Terminal) P3 project. In the statement, DEN said “many factors contributed to the airport and city’s decision.” The notice established the effective date for the termination as
The Bolivian Government has launched today the tender for the USD 280m expansion of the Viru Viru airport located in Santa Cruz. This DBFOM project will be the first PPP asset built under the new Bolivian constitution (2009). Investors will have until 9 September to submit their proposals. On 19 September the Government will announce the
TIVIT has engaged BofA Securities to carve out its Brazilian data centers business, said two sources familiar with the situation. The process is in its early days, added those same sources. The carve out comes on the heels of a joint venture between Digital Realty Trust and Brookfield Asset Management that acquired Brazilian data center
Canadian oil transportation and processing company Inter Pipeline said it has received an offer for the whole company and confirmed that it is exploring options for its European energy storage business. Toronto-listed Inter Pipeline late on Friday (August 9) said it “received an unsolicited, non-binding, conditional and indicative proposal to
The losing consortium in the recently closed Silvertown tunnel tender has challenged the decision of Transport for London to award the GBP 1bn PPP to a Macquarie Capital-led consortium, threatening months of delays. UPDATED: This story was originally published on 12 August and updated on 13 August to include more details on the upcoming court
Macquarie Infrastructure and Real Assets (MIRA) has shortlisted four groups for the sale of a 50.01% stake in Hobart Airport, several sources familiar with the situation said. According to the sources, advisor Credit Suisse this week contacted the parties to invite them into the data room, including, UniSuper, QIC, Super funds Cbus and HESTA,
Grassroots Renewable Energy Platform is on the cusp of finalising a loan for the 150MW Bango wind project in New South Wales. Benjamin Haan, partner and head of private infrastructure at Partners Group - a backer of Grassroots - told the Infrastructure Investors Forum Australia in Sydney yesterday that the deal would reach financial close this week. Grassroots
I Squared Capital’s intended sale of its 1.4GW clean power assets Asia Cube Holdings has encountered hiccups due to price discrepancies with suitors, four sources familiar with the situation told Mergermarket, a sister publication to Inframation. The global infrastructure investment fund retained Credit Suisse to explore the sale since last September,
EQT Infrastructure has kicked off an auction process for its UK rail business GB Railfreight, three years after acquiring the company. The Swedish infrastructure investor has appointed Deutsche Bank to advise on the sale, sources said, adding that rather than issuing teasers and IMs, it has selected a group of companies to submit bids through an
Japan’s government plans to terminate the feed-in tariff system (FiT) for new solar and wind power generation projects, given an increasing cost burden on consumers. Japan's Ministry of Economy, Trade and Industry (METI) today (5 August) presented the plan to a government advisory panel, under which large-scale commercial solar and wind power
China General Nuclear Power Corporation (CGN) is in talks to acquire Mexican renewables company Zuma Energía from Actis and Mesoamerica, said three sources familiar with the situation. The acquisition would represent a second Actis platform company the Chinese clean energy investor would be acquiring following the parties’ 1Q19 agreement for
The city council in Coffs Harbour - about 500km from Sydney - will call for expressions of interest to privatise the local airport in the next three months, a official spokesperson confirmed in an email to Inframation. Clarification: This article was amended on 7 August to clarify details of previous airport leases in the last paragraph While
A Brookfield Infrastructure Partners (BIP)-led consortium signed a deal to acquire Blackrock’s and First Reserve’s stakes in the Los Ramones Pipelines in Mexico for USD 550m, said two sources close to the situation. BIP signed an agreement to acquire a “co-controlling” interest in two natural gas pipelines in Mexico for USD 550m, according
Brookfield Infrastructure Partners (BIP) will sell its stake in the Australian arm of Genesee & Wyoming (G&W) to a consortium led by Macquarie Infrastructure and Real Assets (MIRA), Brookfield announced on its 2Q19 earnings call. Brookfield, which reached a USD 8.4bn take-private for G&W last month, expects the sale of its 51% interest in the Australian
Antin Infrastructure Partners is going to fund its USD 1.25bn buyout of Veolia’s US energy district business with a combination of equity and debt, said Antin senior partner Kevin Genieser in an interview with Inframation. The deal is expected to close in 4Q19. The auction was described as a very competitive auction, said two sources
Jessie Jin, an assistant director at Rothschild’s infrastructure advisory arm, is due to join GIC’s London-based infrastructure investment business later this month, sources said. Jin (pictured) is expected in her new role to work closely with Floortje Brouwers, who oversees the Singaporean sovereign wealth fund’s junior debt offering. One
Taiwan's Swancor Holding has agreed to sell its renewable unit and a stake in the Formosa 2 offshore wind farm to New York-based fund manager Stonepeak, according to a stock exchange disclosure today (31 July). The decision was made almost a month after the company announced an extension to the disposal timeline to "broaden its search for potential
Antin Infrastructure Partners has agreed to acquire Veolia’s US district energy business for an enterprise value of USD USD 1.25bn, according to a 31 July press release. Veolia took indicative bids in the auction for the business on 7 May, according to sister publication Sparkspread. The business, a unit of Veolia Environment, generated
New South Wales may look to private finance for two forthcoming Sydney Metro projects as a major construction company announced a new joint venture to bid for them. The AUD 20bn (USD 13.8bn)-plus Sydney Metro West will run from Sydney’s city centre west to Parramatta, while the AUD 15bn-20bn Sydney Metro Greater West will extend from the city’s
Germany’s MPC Capital has acquired an in-development 6.5MW solar PV project in El Salvador, according to a 30 July company press release. MPC Capital is currently in the process of finalizing the engineering, procurement and construction (EPC) contract and the project financing for the USD 7.5m project with commercial lenders, according to the
Citi power and utilities specialist and head of investment banking for Denmark Nicholas Blach Petersen has left the investment bank after nearly eight years, sources said. Citi is now seeking a replacement head of investment banking for the Scandinavian country and his role there is meanwhile being covered by the co-heads of Nordic investment Lars
Fund managers in Australia are likely to fold or consolidate as their superannuation clients merge, according to IFM Investors Chief Executive Brett Himbury. Any consolidation of super funds – IFM is owned by 27 of them – would lead to similar moves among GPs, Himbury said at his company's annual results briefing today (29 July). This will
Canadian pension funds Canada Pension Plan Investment Board (CPPIB) and Caisse de dépôt et placement du Québec (CDPQ) are the two remaining bidders vying to purchase New York-headquartered Global Infrastructure Partners’ (GIP) Indian roads portfolio, local media reported on 29 July. The two pension funds have bid around INR 32bn (USD 466m)
Sponsors of a 216MWp solar portfolio in Mexico are seeking a credit facility for approximately USD 130m, said three sources briefed on the situation. The sponsors, UK based investment manager InfraRed and Mexican financial services firm Invex, sent a request for proposals in early July, to learn about potential terms for the 15-year loan, associated
Equitix and Japan’s Kansai Electric Power Corporation have agreed to buy 50% of Electricity North West (ENW), scotching fears the sale of the UK regional energy grid had been derailed by worries about nationalisation and Brexit. Equitix and Kansai, which had previously been in a consortium with Equitix’s fellow infrastructure investor Dalmore
KKR is going to launch its three largest funds, one of which will be dedicated to infrastructure, in the next six to 18 months as the firm looks to scale its business, Scott C. Nuttall, co-president and co-COO of KKR, said during an earnings call on 25 July. KKR held a USD 7.4bn final close for its third dedicated infrastructure fund, KKR Global
Australian and New Zealand gas networks and fund managers have entered the race to buy Brookfield's Tasmanian gas utility Enwave, according to sources. Brookfield received at least three indicative offers by the Monday evening deadline, one of the sources told Inframation. The bidders include Australian Gas Networks, a unit of CK Infrastructure
The Sacyr-led SPV behind the Rumichaca–Pasto highway project signed a COP 1.8trn (USD 562m) credit facility to fund construction of the road, according to a 17 July Ministry of Transportation release. The loan carries a tenor of eight years, a source familiar with the situation said. The transaction has yet to be disbursed. Nine
HOCHTIEF PPP Solutions North America recently hired Daniel Lau as a senior director in project finance. Lau, most recently a director at VINCI Concessions, will be based in the New York office. He served as a director in structured finance at VINCI for three years and prior to that worked at KPMG. In the US, HOCHTIEF is among the stakeholders
A project to build a INR 150bn (USD 2.25bn) airport near India's capital city has drawn interest from 15 companies, which have bought the tender documents, according to sources close to the matter. Nine of the parties attended a pre-bid conference yesterday to get details of the proposed Jewar airport in India’s National Capital Region, according
Financial advisory boutique Rubicon Capital Advisors has opened a new office in Mexico City to support its Latin America expansion efforts, according to a 15 July release. Santiago Ortiz Monasterio, who joins Rubicon as a senior director from Mexican energy and infrastructure fund GBM Infraestructura, will lead the office. “The opening
The USD 20bn Teachers' Retirement System of Louisiana (TRSL) has approved a commitment of USD 50m to Global Infrastructure Partners IV (GIP IV), according to a source at the pension plan. While GIP has historically invested approximately 68% of aggregate capital into energy assets, the manager expects to increase its allocation to the transportation
Iridium Concesiones has appointed BBVA as its financial adviser to help it explore a sale of stakes in several key road concessions in Spain, sources said, amidst a flurry of transport sales in the country. The ACS-owned concessionaire is looking to sell an 80% stake in six Spanish shadow toll road concessions, including the 67km Eje Diagonal DBFOM project,
FinEst Bay Area Development, the private developer of a tunnel connecting the capitals of Finland and Estonia, is looking to firm up EUR 15bn (USD 17bn) in financing from Chinese investors. The company is now in advanced negotiations with private equity group Touchstone Capital Partners after signing an MOU in March, founding partner Kustaa Valtonen
Jaron Stallard has taken over as NAB’s new global head of infrastructure coverage based in Sydney, according to sources familiar. He was previously at RBS for more than 13 years in London. His most recent roles were managing director of infrastructure financing and director of infrastructure financing between June 2014 and September 2018, according
Pressure has eased in the French airports market amidst the Toulouse-Blagnac dramas, with Caisse des Dépôts et Consignations agreeing to buy an initial stake in Nice Airport for a healthy multiple, while Eiffage is to buy the Lille concession. The Nice Municipality agreed on Friday (12 July) to sell a 4% stake in Nice Airport to CDC, which sources
Kalpataru Power Transmission Limited (KPTL) is in talks with Cube Highways and Canadian pension fund PSP Investments-backed roads platform ROADIS over the disposal of its roads portfolio, according to two people familiar with the situation. The roads portfolio is housed under Mumbai-based KPTL's subsidiary JMC Projects (India) Limited. The
UK-based airport operator Gatwick Airport is teaming up with Malaysia’s Employees Provident Fund to acquire a strategic stake in Malaysia Airports Holdings, two sources familiar with the situation said. The stake is around 20%, the sources told Inframation sister publication Mergermarket. Gatwick and EPF are looking to form a consortium to acquire
A Spanish renewables developer has tapped Lazard to sell a 720 MW portfolio of solar PV projects in Brazil, according to sister publication Sparkspread. Barcelona-headquartered Enerside Energy is running a sale of three projects in advanced development in north-eastern Brazil, SparkSpread has learned. All three projects are backed with
FirstLight Fiber acquired New York-based communications construction company Todd Cable Construction, according to a 10 July press release. Executives at FirstLight, a portfolio company of Antin Infrastructure Partners, said the deal would broaden the company’s capabilities of developing greenfield fiber projects. “Unlike our prior
Sacyr is considering offers it has received for a toll road it owns in Andalusia, following the project’s refinancing less than a year ago with institutional investors’ debt, sources said. The Spanish infrastructure developer has received initial offers for the AP-46 Las Pedrizas toll road, of which it owns 100%, from investors understood to
