September 2012 Issue

    Month: September
    Year: 2012

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    Doing things the IFM way

    Chief executive Brett Himbury tells Bruno Alves about IFM’s unique culture, alignment of interest with LPs and why, when it comes to pooled investment, you are only as strong as your weakest investor

    Infrastructure: crying out for greater definition

    Fund managers within the asset class must explain their propositions more carefully to the investment community. Succeed in this and the rewards will be great; fail, and the result will be disaster. Bruce Chapman of Threadmark explains why.

    The benefits of club membership

    ConnectEast was the kind of deal CP2 wants to repeat – identify a quality core infrastructure asset and bring large institutional investors to the table. Managing director Syd Bone talks to Andy Thomson about the firm’s model.

    The political street-fighter

    He’s battle-hardened and, perhaps because of that, has a tendency to get things done. Andy Thomson reports on why Anthony Albanese deserves his latest accolade.

    ‘Watch for the pendulum to swing’

    We sought feedback on the climate for infrastructure fundraising in North America and found that, despite the rising use of the fund model, direct investment is also in vogue (as is skepticism).

    ‘We knew it was difficult’

    Private equity innovator Kohlberg Kravis Roberts broke new ground in 2008 with its infrastructure fund. Marc Lipschultz recounts how KKR weathered a challenging fundraising environment to raise a $1bn offering.

    The new elite

    With GIP closing in on an $8bn-plus fund, a clutch of highly attractive infrastructure fund managers appear able to turn the clock back to the pre-crisis fundraising heyday. For most of their peers, life is a lot harder.

    New dawn in Arizona

    Legislation for PPPs in Arizona has been in effect since 2009. But the Southwestern state is only now pushing the envelope on tolling.

    All hail the king!

    GIP now manages the largest-ever infrastructure fund in the history of the asset class. It is also building funds under management at a speed private equity’s largest players could only dream of.

    Down Under dominance

    The second-quarter 2012 league tables from Infrastructure Investor Assets show Australia coming to the fore in the project finance market – boosted by a huge LNG deal.

    The straw man cometh

    Private investment in public infrastructure is a tough sell in the US. The straw man is going to make it tougher.

    ‘Infra debt will be a learning exercise’

    Fresh from closing a €400m subordinated debt fund, AMP Capital global head of infrastructure Scott Davies talked about the infrastructure debt space and its attraction to fixed income players.

    Why satisfaction may not be guaranteed

    Questions have arisen about the UK government’s real objective with its new guarantee scheme for infrastructure projects.

    For a brief, shining moment

    A parking deal might have kept pro basketball alive and kicking in Sacramento. We’ll never know for sure.

    US infra: the insurer’s friend

    Unstable bridges can result in stable revenues for some.

    Who built America?

    A political barb has turned into a hot potato.

    Discomforting words

    The Olympics mattered a lot. We know that now.