Brookfield has called for expressions of interest for large parts of its Enwave subsidiary in Australia, including Tas Gas Networks and its District Energy businesses, sources said. Brookfield adviser Citi sent out a flyer with details of the sale to possible interested buyers this week, according to two sources familiar with the matter. EOIs are
Thomas Murray is expected to join I Squared Capital shortly to build-out a new credit platform, said sources close to the situation. The move will include the build-out of a team, to be based in I Squared’s new headquarters in Miami. In addition, there are rumors that it will also coincide with a capital raise. Murray formerly ran a debt platform
Goldman Sachs has hired Cedric Lucas, formerly of KKR, to join its West Street Infrastructure Partners fund as managing director, a spokesperson for the company confirmed. West Street Infrastructure Partners is a fund managed by Goldman Sachs’ merchant banking arm. Lucas was previously a managing director at KKR where he worked on the energy and
Prateek Maheshwari, a principal responsible for debt financings at Global Infrastructure Partners in London, has left the manager and has joined OMERS Infrastructure, sources told sister title SparkSpread. Maheshwari, who could not be reached for comment, spent 11 years at GIP, the world’s largest infrastructure fund manager with some $51 billion in
Palisade, HRL Morrison and China Three Gorges have all lodged indicative bids for Macarthur Wind Farm, according to sources. The sale of Malakoff’s 50% stake in Macarthur Wind Farm in Victoria has drawn interest from Australian infrastructure funds and China Three Gorges, the sources said. Financial adviser Rothschild received indicative bids from
US fund manager BlackRock is bidding for I Squared Capital's 1.4 GW power and water portfolio spread across China, South Korea, Taiwan and Vietnam, according to market sources. Indicative bids were filed on April 18, but bankers are yet to see a shortlist, according to SparkSpread, a sister publication to Inframation. Credit Suisse is I Squared's financial
Denham Capital-backed renewables IPP Jenner Renewables is in talks with Spain’s Grupo Aldesa to acquire the latter’s 68MW wind-farm project in the Yucatan Peninsula, according to two sources familiar with the situation. The Kabil wind farm is being developed by Discovery Management, a 100%-owned subsidiary of Grupo Aldesa. Discovery presented
DWS and Peel Group have hired Rothschild as their financial advisor to sell a combined stake of up to 25% in Peel Ports, with the former planning a continuation process for its remaining stake, sources said. The two shareholders, which have also hired Linklaters as their legal advisor for the sale, hope to sell a total holding of between 20% and 25%,
A Colombian consortium has presented a proposal to take over the Santana–Mocoa–Neiva highway concession, according to a press conference last week. UPDATED: This article has been updated to include clarification from Odinsa that it is not formally part of the takeover consortium. A Colombian consortium has presented a proposal to take over
Healthy increases in fee income and proceeds from European asset sales propelled Macquarie Group to record profits for the financial year ended 31 March 2019. The Australian investment bank and fund manager reported a 17% boost in net profit to AUD 2.98bn (USD 2.09bn), at an earnings briefing in Sydney on Friday (3 May). Operating income also grew
Macquarie Infrastructure and Real Assets is set to call for indicative bids in June following the expected release of an information memorandum for the sale of its 50.01% share of Hobart Airport. Potential bidders will have until July to lodge indicative bids before the final bid phase starts between July and August, with final bids due in September
Fiera Infrastructure acquired an equity interest in Conterra Ultra Broadband Holdings, according to a 1 May press release. The equity stake was acquired from Conterra’s majority owner Court Square Capital Partners and certain members of Conterra’s management team. The investment was made through Fiera’s open-ended infrastructure fund. The only
Orsted has taken a final investment decision (FID) on the Greater Changhua Southwest and Southeast projects, the Danish wind developer said in a statement today (30 April). The move comes after Taiwan’s Ministry of Economic Affairs approved Orsted’s local supply chain arrangement. The projects also secured a 20-year power purchase agreement (PPA)
A consortium led by Macquarie Infrastructure Partners has agreed to buy California's Long Beach Container Terminal from Oriental Overseas (International) Ltd. for USD 1.78bn. Long Beach Container Terminal Inc and a unit of Hong Kong-based Orient Overseas have entered into a sale and purchase agreement with the buyer, according to an Orient Overseas statement today
Senate Majority Leader Charles E. Schumer (D-NY) and Speaker of the House Nancy P. Pelosi (D-CA) said that US President Donald J. Trump has agreed to spend USD 2trn to upgrade US infrastructure. Schumer characterized the meeting as “constructive” in a press conference after the 30 April meeting. However, Pelosi and Schumer did not reveal key details,
IFM Investors has bolstered its London-based infrastructure debt team in order to transact more sustainable and renewable energy transactions. Lucie Mixeras has joined the debt fund as an associate director from Credit Agricole, where she worked on project finance loans across the transport, gas transmission and storage networks, waste to energy and
Transurban has decided it won't bid for the USD 7.6bn first stage of the I-495/I-270 Managed Lanes project in the US as political opposition to the PPP mounts. This story was updated to provide additional details on other US road projects Transurban was looking at as part of its annual investor presentation. The President of Transurban’s North
ProInversión has awarded the 30-year, PEN 841m (USD 256m) contract for the Lake Titicaca water treatment plant to Consorcio Fypasa Construcciones y Operadora de Ecoisistemas, according to a 29 April announcement. This story was updated from a story published on 29 April to provide additional details on how the project will be financed and who advised
A Macquarie Infrastructure and Real Assets-backed consortium has acquired all shares in the Czech Republic’s far and away largest gas distribution network operator, by exercising its pre-emption right over a majority stake held by RWE. The consortium, which announced the takeover on Monday (29 April), paid EUR 1.8bn for the 50.04% stake held by RWE
Executives of two data center companies signed an agreement with an undisclosed company to build a facility in Santiago, Chile, according to a 25 April release. US firm Digital Realty Trust and Brazil’s Ascenty, agreed to develop a 6.3MW facility for the undisclosed global cloud provider under a long-term contract. There was no indication as to
Four teams have returned proposals for the CAD 2.8bn Millennium Line Broadway Extension (Skytrain), Inframation has learned. According to sources close to the procurement, the teams that responded to the request for qualifications (RFQ), which had a deadline of 17 April, are the following: Salini Impregilo, Astaldi, Colas Group, Jacobs Engineering
Kyuden Mirai Energy and Germany’s E.ON said yesterday (23 April), that they will team up to jointly develop bottom-mounted offshore wind power projects in Japan. The German-based company seeks to join hands with the Japanese company with an intention to enter the local market and transfer its experience and know-how gathered from 11 projects
Three of the consortia interested in building Codelco’s USD 1bn desalination plant have presented bids for the project, according to three sources. The bidding teams are: - Marubeni/Techint - Mitsui/Algonquin - Engie/GDF Suez/Vinci InfraRed, Macquarie, Sacyr and Acciona all showed interest in the project but did not submit bids. The
Brazil-based Actis director Sergio Brandao will leave the UK private equity fund later this year to launch a consultancy focused on in-bound foreign investment into the infrastructure sector, he told Inframation. Brandao, 57, has been handing over his responsibilities to fellow Actis director Bruno Moraes since mid-way through last year and aims
Astaldi Construction Group has voluntarily defaulted on four state highway projects in Florida. The projects impacted include: USD 7.6m Halls River Road and Bridge replacement in Homosassa Springs, which is scheduled to be complete in summer 2019 Section 7A of the Wekiva Parkway project in Seminole County which is expected to be complete in
Canada’s Fiera Infrastructure is in talks about its first European transport acquisition, the purchase of a 50% stake in Isle of Wight ferry operator Wightlink from Basalt Infrastructure Partners. Basalt last summer appointed Macquarie Capital to conduct a strategic review of Wightlink examining options including a sale of the business. It completed
Jan Gabrynowicz, a former head of EMEA oil & gas project finance at Commonwealth Bank of Australia in London, has joined Sumitomo Mitsui Banking Corp. Jan will be based in Sydney as a senior vice president in project finance funding energy and infrastructure, he confirmed to SparkSpread, a sister publication to Inframation. Last year, Gabrynowicz
Spanish construction company Acciona and Macquarie Capital are forming a third group to bid for the AUD 3.5bn (USD 2.5bn) Inland Rail PPP, according to sources familiar with the matter. US construction company Fluor and Spanish contractor Ferrovial have also been linked to the pair, according to three sources. A spokesperson for Acciona said that while
GVK Power & Infrastructure Limited, last week late Thursday (18 April) said, it has signed an agreement to sell 49% stake in its airports business to Abu Dhabi Investment Authority (ADIA) and India’s National Investment and Infrastructure Fund (NIIF). In a stock exchange filing on Thursday GVK said, according to the term sheet, ADIA and NIIF would
Brookfield Asset Management’s infrastructure arm is among bidders that have been shortlisted in the sale of Electricity North West, ahead of binding offers due on 3 June, sources said. The Canadian infrastructure fund manager, which has not been linked to the sale previously, is likely to have bid via its super-core infrastructure fund, the sources
São Paulo state’s privatization program expects to raise a combined BRL 50bn (USD 12.7bn), the state governor told Inframation on 16 April. João Dória said São Paulo has 62 projects under the state's privatization program, also known as Programa Estadual de Desestatização/CDPED, which they plan to procure as PPPs, concessions and through privatization
DP World has emerged as the front-runner to acquire a part of Macquarie Infrastructure Partners (MIP) North American ports business, said two sources familiar with the situation. Singapore-based shipper company, PSA Corporation Ltd, has also emerged as an interested bidder for some of the assets, added a third source familiar with the situation. MIP
Authorities in French Guyana have launched a EUR 30.5m (USD 34.5m) broadband PPP project, according to a notice on OJEU, the official journal of the European Union. A notice for the project was published on OJEU on 12 April for the 25-year project. The first round of bids are to be received by Ville de Kourou – the tendering agency – on 20 May. The
Macquarie Infrastructure and Real Assets is looking to launch its first dedicated renewable energy fund. The new vehicle will only invest in wind and solar assets and MIRA is looking to raise EUR1-1.5bn (USD 1.13-1.69bn), sister publication SparkSpread has learned. It has not begun fundraising. A MIRA spokeswoman declined comment. To date,
The USD 10bn Chicago Teachers' Pension Fund (CTPF) approved a USD 25m commitment to Brookfield Infrastructure Fund IV as it tries to maintain exposure to infrastructure ahead of realizing its investments in Macquarie’s funds, according to board meeting minutes from February. Macquarie represents 40% of its current infrastructure exposure considering
An I Squared Capital-owned 180MW floating solar farm in Taiwan’s northwestern Changhua has kicked off its project financing process. The facility, poised to become the world’s largest floating solar project by completion, will cost nearly NTD 10bn (USD 320m) to develop. About 75% of the investment will be financed via a syndicated bank loan, a
Two bid groups are so far forming for the upcoming AUD 7bn to 9bn (USD 5bn to 6.5bn) North East Link (NE Link) motorway PPP, but the size of the deal and the troubles of some major contractors may prevent more from entering. Several sources eyeing the project said one group is likely to form around construction contractors Samsung, Fluor and CIMIC’s
China Communication Construction Corporation is looking to buy brownfield projects following last year's failed attempt to take over a major Canadian builder. The state-owned infrastructure giant is seeking targets in mature markets such as Europe and North America, with a preference for companies specialising in project design and consulting services,
A group of former partners at Oaktree Capital Management-owned Highstar Capital has launched a new infrastructure fund and signed its first investment. The new outfit, Foundation Infrastructure Partners, is led by Bret Budenbender, Andrew Nevin and Scott Litman, who left Highstar last summer. Foundation Infrastructure will look to make investments
CGN Capital Partners Fund III, planning to sell and refinance its renewables portfolio this year, is looking to take bids in August, according to a senior official. The RMB 3.69bn (USD 556.3m)-China renewable fund, which mandated Cantor Fitzgerald as its global financial advisor late last year, plans to distribute teasers in May, Raymond Fung told
Aleatica (ex-OHL Concesiones) has removed developer OHL from highway EPC contracts in Colombia and Mexico and started legal action against the Spanish company in Mexico. A permanent loss of either EPC contract would hurt OHL’s bottom line as it generated 24.4% of its sales from the Latin American region in 2018, according to public filings. Aleatica’s
Fiera Infrastructure has hired Brooks Kaufman, a former investment director at IFM Investors, as a managing director leading the firm’s New York office, according to an 8 April press release. Kaufman, who joined the Toronto-based firm on 1 April, will lead the origination and execution of new investments for the New York office, which opened at the
The asset management arm of Swiss private bank Reichmuth & Co is preparing to launch fundraising for its inaugural pan-European infrastructure fund, sources said. Lucerne-headquartered firm Reichmuth & Co Investment Management is set to launch Reichmuth Infrastructure CIP II (CIP II) with seed capital of CHF 100m later this month, as it looks to raise
Melbourne-based Plenary Group has appointed Stephen So as an associate director of origination to go after infrastructure deals with a strong property element. So was previously a director at IDA Property Group and, before that, in KPMG’s real estate advisory team. “Stephen will support and drive the development of the ever-increasing property
The Auckland light rail saga has taken another twist, with the government saying both of the planned lines may be scrapped due to a funding shortfall. New Zealand's Transport Minister, Phil Twyford, has indicated that funding issues may get in the way of building both lines of the Auckland light rail, indicating the line from the city to the airport
Andrew Hatton, a former Hochtief vice president who has worked on public-private partnerships (P3s), has joined consulting firm Evolve Infrastructure. Hatton, who could not be reached as of press time, joined Evolve this month, according to his LinkedIn profile. A source close to the situation confirmed the move. Hatton previously worked for MGAC,
Global Infrastructure Partners (GIP) hopes to hit a hard cap USD 20bn (EUR 17.8bn) final close of its fourth infrastructure equity fund in June, and complete monthly closes before then, according to sources and documents. The New-York headquartered asset manager, which only began fundraising for Global Infrastructure Partners IV (GIP IV) last September,
CIMIC’s Pulse consortium has been awarded the tunnels and stations PPP contract in Brisbane’s AUD 5.4bn (USD 3.85bn) Cross River Rail project. Its subsidiaries CPB Contractors and UGL are also part of the Unity consortium that has been awarded the Rail, Integration and Systems (RIS) alliance contract on the 10.2km line to be built under Brisbane’s
China Merchants Port is interested in teaming up with sovereign wealth funds and international shipping companies to invest in ports overseas, according to the state-run company's Managing Director, Bai Jingtao. The Hong Kong-based conglomerate, which controls the Port of Newcastle in Australia and TCP in Brazil, is now looking at Southeast Asia,
Canadian pension fund manager Public Sector Pension (PSP) Investment Board and India’s National Investment and Infrastructure Fund (NIIF), on Wednesday (3 April), jointly said they are setting up a USD 2bn platform to invest in road projects in India. ROADIS, PSP Investment’s roads development arm, will team-up with NIIF with an aim to invest in
Empresa Metro de Bogotá (EMB) has named six prequalified teams for its first metro line. The concession to last 20 years has a total estimated cost of USD 4.4bn. Seven international teams replied on 25 February to an RFQ for the project. However, Chinese developer China Railway Group did not fulfill all the requirements to qualify. The prequalified
Bouygues is in talks with infrastructure funds to help finance its bid to become a major owner of airport concessions worldwide, amidst an uptick in sector opportunities, sources said. The French developer is in preliminary discussions with between two and 10 infrastructure funds to help fund its plans. One of the investors it is holding talks with
Brookfield is considering selling parts of its Enwave business in Australia, including Tas Gas Networks and its retail arm, and may add its District Energy business to the process, according to two sources familiar with the matter. The company wants to conclude the sale by the end of the year, the sources said, confirming local media reports that the
3i Group will acquire short-line railroad owner and operator Regional Rail LLC from Levine Leichtman Capital Partners, said a source close to the situation. Regional Rail will represent 3i’s third infrastructure investment in North America since 2017, and will serve as a platform for future investment in the sector. Kennett Square, Pennsylvania-based
SNC Lavalin has hired advisors to explore opportunities including a potential sale or split up of the company, said Neil Bruce, President and Chief Executive Officer, SNC-Lavalin Group during a 22 February earnings call. When asked a plan B or C for the company’s future, SNC representatives said their priority was maintaining and looking after shareholder
Three teams have returned proposals for the St. Johns Mental Health And Addictions Facility public private partnership project, Inframation has learned. UPDATE : This story was updated to reflect that the Sacyr team is composed of Sacyr, RCS Construction and Stantec. The three consortium to answer the request for qualifications issued on 15 November
The SPV behind the USD 240m Tuxpan International Fluids Terminal (TIFT) project in Mexico is in talks with lenders to raise debt for approximately USD 150m to fund construction, said a source close to the situation. The SPV comprises KKR-backed company Monterra Energy and a subsidiary of US based SSA Marine called Tuxpan Port Terminal. The sponsors
A consortium of Swedish infrastructure investor Infranode together with France’s Mirova and AXA IM has formed to bid for Finnish energy company Elenia’s district heating business, people following the process said. The consortium has appointed Macquarie Capital to advise on its bid, the sources added. Elenia earlier this year appointed DC
CREC-CREC consortium wins USD 1.4bn intercity railway PPP A consortium formed by China's two biggest railway developers won the RMB 9.4bn (USD 1.4bn) intercity railway project connecting Chinese eastern metropolitan of Nanjing to Chuzhou in the east of Anhui province. According to a government document released on 21 December the The China Railway
