May 2009 Issue

    Month: May
    Year: 2009

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    The new infrastructure(5)

    Like students after an exam, we are all conducting a post mortem on the current crisis before the results are known. But as the end results might not be clear for another 5-10 years, at least, it is inevitable (and desirable) that we try to work out the impact of the current financial meltdown. As […]

    The quiet invasion

    Meridiam, a European infrastructure fund, has been quietly buying up projects in North America. Cezary Podkul explores why it could suddenly explode into view as a big player

    No reservations

    First Reserve’s $9bn close for its 12th energy fund suggests investors are keeping their wallets open to energy – although not quite as open as they used to be

    Renewable Energy

    Renewable energy is already worth over $150 billion a year to private financiers, and could grow four times as big as countries try to slash carbon emissions. Matilda Battersby reports

    A cautionary tale

    How hard will problems at 3i Group hit its 33% subsidiary 3i Infrastructure, asks Paul Jarvis

    Seconds anyone?

    The private equity secondaries market is boiling hot. Cezary Podkul asks why that isn’t spilling overinto infrastructure

    The $9bn bet

    Cezary Podkul takes a look at CenterPoint’s historic bid for the Port of Virginia, which could unlock a whole new market for infra investors

    The big frontier

    At the moment, private investment is largely limited to heavy infrastructure such as roads and ports. But lack of cash might force governments to accelerate the pace of social infrastructure development, which looks increasingly impossible without outside cash. Paul Jarvis reports

    Lobby wars

    The political battle over privately funded infrastructure is far from over in America

    Someone must fill the gap

    Governments are quietly accepting that private money can’t plug East Asia’s burgeoning infra gap


    Banks have come running to Britain’s M25 motorway project after the government offered to fund it itself

    Listing problems

    Some Macquarie-managed listed entities are up for sale, but others seem determined to remain listed

    In need of a Phoenix

    The dearth of new funding threatens market development

    Grounded in Chicago

    Chicago has been forced to shelve plans to lease Midway Airport, but this reflects problems in the financial markets rather than with public private partnerships

    Blown Out(3)

    London’s G20 summit failed to produce the promised infrastructure binge, and now there are grumbles that the various national investment plans aren’t leading to much new work either. By Michael Kapoor

    If it sounds too good…

    It always sounded just a bit too good to be true. Debt markets are a mess, so Citi said it would simply fund its $2.5 billion Midway airport deal with equity. Of course that made financial sense, it said, and it could always refinance later on. Now the deal has collapsed because Citi couldn’t raise […]

    'This time the natives won'(3)

    Peek in room 206 of the Indiana Statehouse. A sign on the large brown door informs you that you’ve entered the governor’s office. Inside, you’re immediately greeted by a portrait of Joe Kernan, the man Mitchell Daniels battled for the job in 2004, when he crisscrossed the state in a motorhome with an appropriately homely […]

    Blown Out

    It was all so exciting in the run up to the G20 London summit in April. Britain’s prime minister, Gordon Brown, was pushing countries to blow their budgets and spend their way out of trouble, backed up by the Americans. It all promised a hefty dose of infrastructure investment around the world, much of it […]

    'This time the natives won'

    In 1626, Dutch settlers supposedly exchanged Native Americans a pile of beads for a deed to Manhattan. 383 years later, Cezary Podkul sat down with Mitch Daniels, Governor of Indiana, to find out how the $3.8 billion lease of his state’s toll road compared with that original big deal

    The new infrastructure

    The current financial crisis will lead to permanent and deep change in infrastructure investment, says Challenger’s Andrew Jones