Nia Tam
Platform Partners says the $1.9bn Macquarie Korea Infrastructure Fund’s levies have amounted to 32% of shareholder distributions since 2006.
Panellists at the Belt and Road Summit in Hong Kong addressed the risks associated with China’s landmark initiative, sounding the alarm over opportunistic behaviour, unsustainable debt and ignoring ESG factors.
The Strategic Investments Fund will target major infrastructure projects, becoming the third vehicle to be added to the NIIF platform.
Singapore’s Changi Airports is part of the winning consortium, making it the second foreign investor to participate in Japan’s privatisation programme after France’s Vinci Airports took over three hubs in the past two years.
The average bid prices for the projects to be built by 2025 are less than half this year’s feed-in tariff for offshore wind projects.
The country, one of the fastest-growing economies in Asia, is facing an infrastructure bottleneck with no new PPP projects signed since 2011.
The firm sees a growing opportunity set in infrastructure across both primary fundraising and secondary transactions.
The world’s fourth largest wind market is looking to have 5GW of offshore wind installed in the next five years, on top of its 60GW onshore target by 2022.
Right now, the 'One Belt One Road' initiative is mostly benefitting Chinese investors. Whether it will seed a bigger boom, capable of attracting a substantial amount of non-Chinese private capital is an open question. Nia Tam investigates.
While the infrastructure fund manager has ruled out a second PINAI fund, it is exploring other opportunities in the country in separate discussions with the fund’s LPs.