The Macquarie International Infrastructure Fund has seen its net asset value rise for the first time since the beginning of the financial crisis, though the value of its portfolio is still down 13.5% from a year ago.
The fund and its toll road vehicle, Itinere, are analysing several opportunities in the US, Australia and other OECD countries with a view to making a toll road investment this year.
In relation to the pay-to-play scandal, Ares and Freeman Spogli have signed on to New York Attorney General Andrew Cuomo’s code of conduct that prohibits the use of placement agents.
Ares Management and Freeman Spogli & Co. have signed on to New York Attorney General Andrew Cuomo’s code of conduct which prohibits the use of placement agents, in relation to fees they paid to Wetherly Capital which were used to illegally secure investments from a New York pension fund.
Placement agents are once again allowed to interact with New York City pension systems – so long as they comply with strict accreditation and disclosure rules. But the ban stays in place for New York state pension plans.
The proposed long-term lease of parking meters, garages and lots is aimed at getting the city off Pennsylvania’s ‘distressed’ list and adding an additional $15m per year to the city’s pension plan, which is only 30% funded.
Interested parties have until 5pm on 15 March to express their interest in a long-term concession of the city’s 3,456 parking meters. They may also choose to express their interest in a management contract for the city’s parking garages and parking lots.
Caisse des Dépôts et Consignations has announced the creation of a unit dedicated to infrastructure investment – CDC Infrastructure. The new vehicle intends to acquire minority stakes in PPPs across the transport, energy and environmental sectors. CDC Infrastructure will mostly target brownfields and starts with a portfolio of nine holdings worth €600m.
Lawmakers in the UK have urged the British government to reject European proposals for wide-ranging regulation of the alternative funds universe as they currently stand, especially if there is no comparable legislation in the US.
The Government Pension Fund of Thailand is planning to increase its foreign exposure across the asset classes and will focus on on the Asian markets in the near term.
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