The development institution is about half-way through the $300m its Infrastructure Department was authorised to invest in such funds, but may allocate further capital later this year when an ambitious $3bn renewables investment target for the next three years target kicks in.
The India-focused private equity and real estate firm's investment in Star Health and Allied Insurance is its maiden deal from India Advantage Fund Series 3.
Divided opinion 2010-04-01 Andy Thomson <P>Turn to p.14 of this, the April 2010 issue of Infrastructure Investor, and you’ll find out why one US pension considers now is the time for it to start becoming a “premier infrastructure investment manager” while a second US pension does not even believe that
Christoph Schumacher, the head of indirect investments at Generali Deutschland Immobilien, the insurance group’s asset manager, said at Infrastructure Investor: Europe 2010 that LPs investing in infrastructure should create a platform for discussion similar to real estate’s INREV or private equity’s PEIA.
Why are some pensions much keener on infrastructure than others? The role of consultants may be key.
The sale, expected to net the Macquarie International Infrastructure Fund about $171m, will be a ‘significant milestone’ for the firm, according to CEO John Stuart, because it will mean its portfolio will comprise entirely of direct investments in Asian infrastructure assets.
Bill Thompson, Walter Stackler, Pamela Wright and Fredrik Elwing have all left to join the New York-based bank. Greenhill said its expansion into the real estate capital raising business was a ‘natural step’.
The pension is also planning on making $400m of direct investments in infrastructure in 2010 as it further builds up a team to make such investments, according to a presentation prepared for the investment committee of the $205.8bn pension.
The undisclosed pension bought into the bond financing of the 183A toll road expansion in Austin, Texas, the first issuance of non-investment grade, CPI-linked Build America Bonds in the US. Investment bank JPMorgan, which placed the bonds, believes the financing is ‘a formula that can be replicated all over’ the US.
In a sign that the private equity firm is placing increased focus on the asset class, AXA Private Equity could double its infrastructure assets under management with its latest fundraise.