July / August 2014 Issue

    Month: July
    Year: 2014

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    A bridge to the private sector

    China’s recent announcement that 80 projects will be offered to the private sector has reawakened interest in the country. Yvonne Li explores the nature of the opportunity.

    PPP round-up

    The key public-private partnership developments from around the world over the last month.

    Not exactly a spectator sport…

    The Port Authority of New York and New Jersey thought it useful to set up webcams that will allow the public to view the construction of the new Goethals Bridge.

    An haute mistake

    Forgetting that many train stations in France were built over a century ago, SNCF will have to pay an additional €50m to shrink platforms so that they can accommodate the new trains the company ordered.

    A vote of confidence

    Antin’s €2 billion fundraise is Europe’s second-largest since the financial crisis. This suggests strong investor belief both in its track record and in the region, writes Matthieu Favas.

    A new branch for Oaktree

    By buying infrastructure specialist Highstar Capital, the $86bn asset manager hopes to grow deeper roots in the energy industry.

    Delivering on the promise

    After investing in energy for more than two decades, launching a dedicated energy and infrastructure platform was a natural next step. KKR’s Marc Lipschultz and Raj Agrawal offer their interpretation of the asset class and what enables them to find opportunities where others don’t. Kalliope Gourntis reports

    Keeping calm

    After a spate of well-publicised privatisations, Australia seems firmly positioned on the radar of many international investors. Matthieu Favas met with industry experts in Sydney to find out why they remain sanguine in the face of growing competition

    Japan: thinking long term

    Private investors are helping the Asian giant to address its vulnerabilities

    Peru: on track for success

    A mega-metro deal has highlighted the country’s vibrant PPP market

    Chile: power play

    The sun is shining on Chile’s renewables push

    South Africa: fair tailwinds

    A bold and innovative renewable energy programme has put South Africa firmly on the map

    Colombia: playing catch-up

    With Colombia seeking to bring its infrastructure up to scratch, foreign and domestic investors are invited to the party

    Brazil: 'a great demonstration of confidence'

    Prices paid have rocketed as Brazil’s massive logistics programme cranks into gear

    How to get deals flowing

    Many Asian countries are still struggling to get momentum behind PPP programmes. Anne-Sophie Briant was in attendance at a World Bank event to hear thoughts and possible solutions given an airing.

    Building benchmarks

    Infrastructure is not doing a bad job at winning over institutional investors. But it would do much better if it could produce more tangible numbers, writes Matthieu Favas.

    Jumping on the bandwagon

    The recent string of train leasing deals suggests competitive pressure is pushing managers to look at assets on the fringe of infrastructure. Matthieu Favas reports.

    How dangerous is the shale boom?

    High-profile accidents involving the transportation of US crude oil by rail call for more midstream infrastructure to be built – though this is unlikely in the short term.

    Banks on the prowl

    As their risk appetite grows, the banks are reassessing their engagement with infrastructure lending.

    Will fund managers pray for mercy?

    Perhaps, if their investments fail to live up to the Church’s high expectations.

    The good, the bad and the ugly

    When it comes to P3s in California, results are mixed. Some false starts and a cancelled project in the state are offset by some great examples in the social infrastructure arena. Kalliope Gourntis reports

    Why the sun is rising in the UK

    The solar PV sector is ripe with opportunity in a market that has gone through a learning curve.

    The path to graduation

    APG is one of a few European investors to have walked the walk of direct investing. Infrastructure chief Ron Boots tells Matthieu Favas how the institution grew up to face the challenge.

    Concerns as Scotland heads for the ballot box

    The Scottish vote on independence is getting ever closer. Liz Jenkins of Clyde & Co argues that uncertainty about the political environment could be problematic for infrastructure investors.

    US: deals in the pipeline

    Midstream infrastructure is luring dollars in the US, with P3s also beginning to make their mark

    Below the radar

    Aviva Investors’ low-risk strategies target assets that remain hard to scale for most investors. This could please a class of LPs still under-served by traditional investment vehicles, finds Matthieu Favas

    Philippines: waving the flag for PPPs

    The Asia Pacific region has been slow to put effective PPP frameworks in place. The Philippines is showing how it can be done

    Mexico: fuel for an energy boom

    Economic reforms and a huge infrastructure plan should have investors flocking to Mexico

    Australia: the wave that's building

    As other countries struggle to generate deal pipelines, Australia is “example A” of what political will can achieve

    Follow the money

    Which countries get the pulses of infrastructure investors racing? Andy Thomson and Anne-Sophie Briant identify today’s top ten excitement generators