November 2011 Issue

    Month: November
    Year: 2011

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    Making the case for private capital

    Thanks to developments in places such as Puerto Rico and Ohio, might public-private partnerships finally become accepted in the US? Or will vested political interests continue to frustrate the legion of private capital professionals wanting to play their part? And what of potential in the country’s energy sector now that shale extraction has burst onto the scene? Five protagonists joined Andy Thomson and Chris Glynn to shed light on these and other issues

    ‘No one said it would be easy’

    In a packed conference room in Mumbai in early October some of the key people helping shape infrastructure development in India met at Infrastructure Investor’s India Forum to assess how the market is set to evolve – and how it can be financed

    Whither the debt funds?

    Almost two years ago, all the talk in Europe was around the new phenomenon of infrastructure debt funds. Andy Thomson wonders why things have gone quiet Jones: boring is best

    2011: Diversity, depth and drama

    Those assuming this year has seen only scant and prosaic infrastructure financings as economic woes continue, should think again. Bruno Alves and Andy Thomson identify five groundbreaking transactions

    Out of private equity’s shadow

    In an interview for sister publication Private Equity International’s tenth anniversary edition, Thierry Déau of Paris-based fund manager Meridiam explains how infrastructure has evolved into an asset class in its own right as investors have begun to understand its unique characteristics.

    The yield machine

    Day-one yield? Check. Stable cash flows? Check. Steady deal pipeline? Check. Negligible deal fees? Check. Conservative portfolio? Check. What could possibly go wrong for the John Laing Infrastructure Fund? Perhaps only the whims of politicians. Bruno Alves meets JLIF co-heads Andrew Charlesworth and David Marshall.


    Poor planning and bickering tainted US parking privatisations. But with the municipal need for cash ever-present, such deals are back centre stage.

    Harrisburg, an ongoing saga

    Thanks to a bankruptcy filing and probable state takeover, a parking concession and sale of a waste incinerator are looking more likely in this crisis-hit city.

    Short versus long: a fatal mismatch

    Dexia’s second bailout underlines how hard (and expensive) it will be for banks to lend long term to infrastructure in the future.

    Unicredit top bank in subdued market

    Another large French high-speed rail project was influential as project finance activity slowed down in the third quarter.

    The recovery that wasn’t

    Infrastructure fundraising in 2011 probably won't match last year's total.

    Sun comes out for property investors

    Infrastructure funds can expect competition from the real estate market for renewable energy deals.

    LPs: guilty of muddled thinking

    Too often there is still confusion about infrastructure allocations with limited partner organisations. One result could be inappropriate responses to prevailing market conditions.

    ‘Time is ripe’ for Islamic finance

    A new report highlights the crucial role that Islamic finance could play in funding Asia’s huge infrastructure needs.

    Turbulence ahead

    The sale of Edinburgh airport looks set for take-off, while privatisations in Madrid and Barcelona may be grounded for a while.

    There’s a price to be paid

    Thomas Putter, Allianz Capital Partners’ former boss, warns of ‘social dynamite’ as private financing forces Westerners to start paying for assets.

    London hopes for harmony

    Emirates will help foot the bill for a new cable car across the Thames. Let’s hope this public-private partnership is happier than the London tube equivalent.

    The UK airport cold war: part II

    Last winter, Gatwick won the so-called “battle of the snowploughs”. This time, Heathrow is fighting back.