April 2012 Issue

    Month: April
    Year: 2012

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    The ‘change catalysts’

    That’s the description used by Antin’s Mark Crosbie to describe the work of asset management specialists such as himself and Angela Roshier of DIF. The two of them, plus Sebastiaan Ranner of pension manager MN, joined Andy Thomson in London for a discussion about how infrastructure investors can drive value from portfolio assets

    Five funds, two placement agents, tough verdicts

    Chris Glynn wanted to get an idea about what was needed to make the fundraising grade in infrastructure these days. So he invented five infrastructure funds and asked a couple of leading placement agents for opinions on their prospects

    Investors stuck in a broken LIFT?

    Amid the UK government’s reform of the NHS, it is unclear how debt and equity investments in LIFT and PFI projects will be treated. James Larmour of Hogan Lovells wonders whether there is the political will to give investors the assurances they are looking for.

    Fears still linger

    Sources of deal flow are increasing in the infrastructure asset class but, with investors spooked by regulatory u-turns and more inclined to invest directly, fund managers are finding it tough to raise the capital that would allow them to take advantage. Andy Thomson reports

    One giant leap for Colombia

    The Latin American country is gearing up to launch an ambitious new infrastructure programme – with a new PPP law and high hopes for substantial private sector involvement. Andy Thomson finds out more from one of the chief pioneers of the initiative.

    The joys of going direct

    With a spectacular 23% returned last year, Canada’s Caisse de dépôt et placement du Québec – a pioneer of direct investment - has big plans for its infrastructure allocation. Macky Tall, the pension’s head of infrastructure, tells Bruno Alves about growing the team and his nascent emerging markets strategy.

    Let’s get political

    Politics was a big theme at this year’s Infrastructure Investor: Berlin Summit, with plenty of examples of how politicians’ decisions impact on everything from the scope of infrastructure programmes to the nitty gritty of deal making.

    Race to the bottom

    The biggest selling point of the UK government’s new pension initiative seems to be that investors will pay no more than 0.5% in management fees.

    Why senior debt makes sense for Gravis

    The London-based subordinated debt fund manager has discovered that market demand is allowing it to lend senior debt at subordinated debt prices.

    Chicago redux

    The Chicago Infrastructure Trust is another first-of-its-kind industry development with Windy City pedigree that’s giving the asset class cause for cautious optimism.

    Nath makes a new impact

    Having kick-started a massive roads PPP programme, India’s urban development minister now has his sights on water.

    Governments need to get a grip

    The perception that the global econonomic downturn has led governments to focus effectively on infrastructure investment as a way of driving growth is challenged by a new survey.

    Road to ruin, or road to RAB?

    In seeking greater private investment in the country’s roads, will the UK government adopt an Australian model that has proved both attractive and potentially perilous? Or will the RAB model offer an intriguing alternative?

    A bird’s-eye view

    First Reserve chief executive officer William Macaulay has a flight of fancy.

    Sign up for a rubbish PPP

    Once again comes evidence that public-private partnerships can cover an eclectic range of activities.

    Winning ugly

    It didn’t happen without a fight, but when the dust settled, a parking lease proved pivotal in a city hall push to keep professional basketball in Sacramento.