July / August 2012 Issue

    Month: July
    Year: 2012

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    Institutions heed the call

    The Australian PPP market has been the target of international developers and development funds, but now local and international institutional investors are being increasingly attracted to this core infrastructure investment segment. Duncan Taylor discusses opportunities and nuances

    How to rise to the challenge?

    With global funding markets volatile and the Australian infrastructure challenge epic in scale, new investment opportunities will continue to open up for international investors in both equity and debt.

    Where next for Australia?

    The prospect for infrastructure investment in Australia is a story in three parts – resources, general urban development and, potentially, agribusiness, suggests Brian McDonald.

    How about 1% for infrastructure?

    The shortcomings in US infrastructure have received much attention. Jay Brown and Robin Priest argue that a modest channeling of income tax revenue could be a big step towards addressing the problem

    A way forward: Higher volume, smaller scale projects?

    How can private investment close the increasing gap between Australian infrastructure supply and demand? Reducing the barriers to entry for infrastructure investment may be an answer to this important economic issue, suggests Greg Boyer.

    No lack of ambition

    The Russian government wants to tender close to €10bn of roads between 2012 and 2015 and kick-start procurement for a €15bn high-speed rail link between Moscow and St. Petersburg. But at a time of record capital outflows, will foreign investors heed the Russian state’s call? Bruno Alves investigates

    ‘I really like infrastructure’

    Conservative John Mica rose from self-made Florida upstart to become chairman of the powerful House Transportation and Infrastructure Committee. Along the way, he’s built a reputation for pro-business voting and unapologetic finger-pointing. But this shrewd veteran is a fervent supporter of private investment in public infrastructure – just don’t call him bi-partisan. Chris Glynn reports.

    Proof of concept

    Hadrian’s Wall clinched a £160m first close after more than two years on the fundraising trail. Now it needs a few deals to show investors that its plan to kick-start capital markets infrastructure investment is viable, Bruno Alves reports

    Planning your next move

    Richard Hoskins of Hastings Funds Management outlines some of the benefits and key lessons of infrastructure investing

    Bringing the thunder Down Under

    After a period of focusing offshore, Australia is once again emerging as an attractive market for local and foreign investors alike. Colonial First State’s Ritesh Prasad explains why.

    Where cash is king

    With its promise of diversification and a high degree of investor comfort, social infrastructure is becoming a favoured investment theme. Greg Maclean of AMP Capital runs the rule over the sector.

    Here comes the wave

    With strained government budgets, sales of state assets are high on the agenda in Australia – and local infrastructure professionals are rubbing their hands together in anticipation of an acceleration in deal flow. Andy Thomson was in Sydney to hear views on this as well as other topical themes such as the supply of debt finance and how to hone the PPP model.

    The end is nigh

    Challenger Infrastructure Fund, owned by Australian investment group Challenger, will seek to be wound up following an agreement to sell its last remaining asset.

    Open for business

    The world’s fourth-largest pension fund has officially opened its London office, its second foreign office after New York.

    Welcome to the UK’s IFM

    The £2bn Pensions Infrastructure Platform is shaping up to be the UK’s answer to Australia’s Industry Funds Management.

    A belief in governments

    Bruno Alves questions Giles Frost, director at London-listed fund International Public Partnerships (INPP), following its recent £200m fundraise.

    A liquid portfolio

    With a newly minted fund and a fat Rolodex, Water Asset Management co-heads Disque Deane and Matt Diserio are more than willing to evangelise about investing in the water sector. And, pretty soon, they expect to be preaching to the converted.

    Behind the deal flow in Dixie

    With a public sector historically bullish on privatisation, a PPP boom is taking place in Virginia.

    How Morgan Stanley made a splash

    When AXA PE pulled out at the 11th hour, Infracapital was left without a consortium and the way was seemingly paved for a Goldman Sachs-led team to scoop up Veolia’s UK water assets – until Morgan Stanley stepped in.

    The perils of an aggressive public sector

    The face-off between a local council and developer over plans for London Luton Airport appears to have been resolved – but provides a case study in how public/private relationships have changed.

    An unwelcome sponsor

    One of the US’ most notorious far-right organisations is out to ‘Adopt-A-Highway,’ prompting the Georgia DOT to take a stand.

    Macquarie scandal did not involve Miranda Kerr

    Macquarie infrastructure senior executive Alan James was removed from a plane for talking to someone on his cell phone. That someone was not Miranda Kerr.