Zak Bentley
The exercise undertaken by any UK government would be ‘no free lunch’, according to think tank the Social Market Foundation.
The AP Moller Capital vehicle has teamed up with UK DFI CDC to place an offer worth $380m for Zambian utility Copperbelt Energy.
Infrastructure is outperforming private equity and real estate for PensionDanmark, PKA and Industriens Pension, which have a combined AUM of more than €89bn.
The new financing package almost trebles the previous agreement ahead of a €1.5bn investment plan.
A further 11.7MW has been acquired by the JPMorgan-owned group, which now owns 114MW in Italy.
The Old Mutual affiliate joins project partners including Denham Capital and the ARM-Harith Infrastructure Fund.
The company’s liquidation has triggered loan defaults on most of its projects contracted by HICL, but is not expected to impact the fund’s dividend guidance.
The sale has netted Partners Group a 3.2x blended gross return following a $250m investment in 2014. It had invested in the Japanese platform alongside Equis Energy. The Swiss firm divested its stake in Japan Solar to a consortium led by Global Infrastructure Partners.
The ViaExpresso and ViaLitoral concession buys continue the firm’s recent Iberian ramp-up.
The pair are aiming to catalyse private sector investment following Shariah-compliant principles with the first-of-its-kind vehicle.