October 2013 Issue

    Month: October
    Year: 2013

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    PPP round-up

    In this new regular section of the magazine, we take a look at the key public-private partnership developments from around the world over the last month.

    Captives unlock their potential

    Changes are underway in project financing, including an expanding role for captive financiers. Johannes Schmidt of Siemens Financial Services explains why.

    Are Bangladesh’s efforts enough?

    How much progress has the country made towards a well-functioning infrastructure investment market? Nick Merritt and Lily McMyn of Norton Rose Fulbright (Asia) assess prospects.

    Take care with underwriting

    Ian Charles and Eddie Keith of Landmark Partners highlights the potential of infrastructure secondaries but warns of its differences with the primary market and private equity.

    Doing what infrastructure should

    The secondary market offers the kinds of characteristics that investors hope to find in the primary market, where they are often disappointed. So says Andrea Echberg of Pantheon.

    Wild West no more

    The secondaries market has come a long way, as evidenced by Setter Capital’s new online platform. Peter McGrath discusses it with Andy Thomson.

    Beginning to flow

    The infrastructure asset class is young – and the infrastructure secondaries market is even younger. But for those involved in this niche area, there is plenty to keep them interested. Andy Thomson reports.

    Carving a niche

    Andrew Jones, Gerry Jennings and Richard Lane tell Bruno Alves how AMP Capital ended up virtually peerless in the subordinated infrastructure debt space, with a multi-billion dollar portfolio under its belt.

    Finding the balance

    The time has come for a discussion on how cities can implement a parking P3 that serves all stakeholders while delivering on social, service and financial benefits. So says Rick West of West FSI.

    Active across the spectrum

    John Barry of First Reserve explains how the firm’s experience in an upstream capacity assists its midstream energy infrastructure investments.

    ‘Unlimited potential’

    Our annual US roundtable saw participants contend that P3s in America have turned a vital corner, even if the evolution of a fully-fledged market is slow. Chris Glynn reports.

    Why onshore investment has strong tailwinds

    The onshore wind and solar photovoltaic sectors present enormous opportunity according to Damian Darragh of Terra Firma.

    A stake in the game

    Angus Evers and Juliet Munn of SJ Berwin explain how communities may stand to benefit from UK energy infrastructure projects.

    Turkey: Prospects looking good

    Børge Tvorg of MiklaGard Energy Management assesses the Turkish government’s renewable energy programme.

    A Dynamic view of renewables

    Switzerland’s Capital Dynamics spotted a niche in clean energy infrastructure, and developed a strategy accordingly. David Scaysbrook reflects on progress so far, in conversation with Andy Thomson.

    Freeing solar

    Unsubsidised solar energy production is becoming a reality across key European markets. Bruno Alves finds out what this revolutionary development means for investors.

    Recognising McDonnell’s vision

    Having delivered more P3 projects than any state in the last five years, Virginia clearly stands out as a leader in utilising public-private partnerships to improve transportation infrastructure. The state’s Governor, Bob McDonnell, is our Public Infrastructure Official of the Year. By Kalliope Gourntis.

    ‘Without data, you need guidance’

    Some German investors got burned by their early infrastructure commitments. In light of this, Matthias Reicherter and Fabian Pötter of Golding Capital Partners make the case for funds of funds.

    The power principle

    Fees are still a powerful currency as LPs and GPs negotiate their new roles in post-crisis infrastructure investing.

    OECD: LPs’ staple diet

    To explain the merits of infrastructure investing to LPs in 2013, it might help to keep a world map handy.

    Take-off halted

    Midway Airport may go down as the biggest P3 disappointment of 2013. Chicago is blaming procurement, not realpolitik, reports Chris Glynn.

    Looking under the bonnet

    In keeping with the spirit of the times, infrastructure bond investors want more information.

    Let them eat cake (and then it’s back to training)

    With the Royal Parks half-marathon approaching, fundraising is getting creative.

    What a blast

    Is Hyperloop over-hyped, or will it be a magnet for thrill seekers?

    The never-ending privatisation drama

    In Greece, arguably the most ambitious privatisation programme ever undertaken has steadily unravelled.