‘Developer fund’ rollout for AECOM

P3 expert AECOM launched a $150m infrastructure fund.

Conglomerate AECOM Technology Corporation is leveraging its position in the public-private partnership (PPP or P3) market to roll out a $150 million ‘developer fund,’ named AECOM Global Fund I, AECOM announced on Monday.
 
The fund will afford publicly traded AECOM “alignment of interest” with its design, construction and engineering business, a company spokesman told Infrastructure Investor. Ninety-nine percent of the capital in the newly launched fund is proprietary, he said.
 
“It is the expectation of the fund that, once we have created a track record with the initial capital invested, we will seek to raise third-party capital,” the spokesman said.
 
AECOM Capital is the fund manager and is headed by chief executive John Livingston. The fund has a 2 percent management fee.
 
The spokesman said the fund would invest directly in public-private infrastructure, including social infrastructure, water and wastewater management and midstream energy, and would also invest in real estate, though he could not give a “specific allocation” for each asset class.
 
AECOM, headquartered in Los Angeles, was the first sponsor of the Meridiam Infrastructure Fund, managed by Meridiam Infrastructure.
 
Thierry Deau joined AECOM in 2004 to set-up Meridiam, becoming its chief executive in 2005. Meridiam chief financial officer (CFO) Emmanuel Rotat as well as director of business development for North America Joseph Aeillo also came to Meridiam from AECOM.
 
As a consultant, AECOM P3 Advisory has been involved in the 2008 Chicago parking meter lease and the Presidio Parkway Project in San Francisco.