July / August 2010 Issue


    Month: July
    Year: 2010

    Back to Print Editions

    ‘Congress passes major tax increase to increase spending’

    Fears of headlines such as these are giving Washington DC pause about passing a new transportation bill, Cezary Podkul finds

    Can we afford this?

    Europe’s sovereign debt crisis is raising new questions about the cost viability of PPPs for indebted governments with sluggish growth estimates, Bruno Alves reports

    Meltdown

    Negotiations over subsidy cuts for the Spanish solar sector reached fever pitch on June 16, when the government indicated its intended cuts would be applied retroactively, reports Bruno Alves

    Why Southeast Asia makes sense

    Singapore-headquartered private equity infrastructure fund manager CIMB Standard recently rebranded itself as CapAsia. The firm’s chief executive Johan Bastin recently told sister magazine PEI Asia about the firm’s aggressive growth plans and explains why it won’t be expanding into China or India any time soon

    Value investing in infrastructure

    The key to success in infrastructure lies in value investing, according to Michael Dorrell, David Tolley and Trent Vichie, the founding partners of Blackstone Infrastructure Partners.

    Beijing’s vote of confidence

    Moody’s might have downgraded Greece to emerging market status but China seems unworried as it gears up to help finance the country’s infrastructure

    Banking on tough times

    How Gravis Capital Partners’ new subordinated debt fund aims to capitalise on a changed market

    Why LPs are friends, not foes

    US pensions continue to go direct, as demonstrated by CalPERS’ purchase of a 12.7% stake in Gatwick Airport. Fund managers should celebrate these historic firsts, says Cezary Podkul

    Most read

    Most-read news stories from InfrastructureInvestor.com over the past month:

    Signs of good fortune

    How to get the most benefit from public-private partnerships? It’s a question the whole of the US is wrestling with. In early June, Infrastructure Investor staged our annual Southeast Forum to find out how Florida, Georgia and Puerto Rico are becoming PPP pioneers

    When ‘no’ means ‘yes’

    A Scottish politician voted against a new bridge – even though he was firmly in favour

    Gatwick’s caring new logo

    The airport’s owner GIP has found an innovative way to raise the spirits of passengers

    A criminal omission

    The family investment group that was (justifiably) overlooked by the Infrastructure Investor 30

    Harrisburg comes first

    Forced to choose between infrastructure and ice hockey, Governor Rendell chose infrastructure

    Rebel with a cause

    Infrastructure investment analyst Robert Bain has passionate views about the inaccuracy of toll road business plans, some of which have produced disastrous results for investors. As Andy Thomson discovers, Bain has a tendency to tell it straight – a characteristic which can sometimes land him in trouble.

    Historic departure

    The Pulkovo Airport project showed that a Russian PPP could achieve financial close without state support by attracting international capital. Oleg Pankratov of VTB Capital, which was an adviser to the project and is a major shareholder, explains how it came to fruition.

    Puerto Rico: the beginner

    The US territory is just getting started in PPPs. But as David Alvarez, the man in charge of the programme, readily admits, there’s more at stake than just efficiency or cost savings.

    Beware the road blocks

    Enthusiasm for private equity investment in Indian infrastructure is justified by market fundamentals. But a wake-up call is required for any investors imagining the opportunity is straightforward. Ali Syed and Shaurya Doval of Zeus Capital reveal the challenges.

    Georgia: the comeback

    After attempting PPPs under a 2003 law that didn’t result in any closed deals, Georgia’s up and running again with a new PPP law and a new team. This time, success will hinge on a fourth ‘P’: ‘personality’.

    Florida: the closer

    Florida is recognised as a national leader in PPPs. Now Stephanie Kopelousos, the state’s transport chief, is asking investors to think beyond the highway sector.

    Helping greenfields blossom

    The Marguerite fund has set itself the ambitious task of supporting European Union infrastructure policy objectives while telling investors it will deploy capital according to market principles. Bruno Alves asks Nicolas Merigo and his senior team how they plan to reconcile these seemingly different objectives.

    Making a clean break

    Capital Dynamics has put itself in the vanguard of what it believes is a major new investment theme.