December / January 2014 Issue

    Month: December
    Year: 2014

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    PPP round-up

    We take a look at the key public-private partnership developments from around the world over the last month.

    Eastern promises

    Southeast Asian nations have unveiled ambitions plans to revamp their infrastructure. Yet a lot still hinges on whether political forces remain supportive until projects see the light of day, finds Matthieu Favas.

    Small and beautiful?

    While large emerging markets are increasingly on institutional investors’ radars, opportunities offered by smaller ones remain largely untapped. The Serbian example shows why this may take time to change, writes Matthieu Favas.

    A blessed generation

    The power sector is in the limelight. This is pushing a number of large, diversified investment groups to hunt for stakes in specialised managers, notes Matthieu Favas.

    The $2bn turnkey project

    By converting an open-ended fund into a closed-ended vehicle, AMP hopes to attract new investors in its Global Infrastructure Fund by offering them immediate exposure to $750m worth of assets. Matthieu Favas reports.

    Bridging the political divide

    With both the US House and Senate now under Republican control, infrastructure may be one item on a short list of issues the Republicans and Democratic President can agree on.

    Second helpings

    Interest in the infrastructure secondaries market is growing on both the buy and sell sides.

    France's deficit takes a toll

    The country's toll road operators are feeling the heat, with the prospect of extra taxes being mooted.

    Build it and they will come…

    At least that's what the man responsible for Australia's newest airport is hoping.

    From little acorns

    Recently appointed chief executive Mike Weston tells Andy Thomson about his ambition to grow PIP from humble beginnings to a powerful force on behalf of UK pension fund investors

    AIFMD: The stressful work ahead

    With the first batch of AIFMD reports due shortly, fund managers and their advisers are still operating under a cloud of uncertainty, writes Sarmad Naim

    From pariah to emerging market

    Over the last few years Myanmar has begun to open up, presenting potential opportunities for infrastructure investors. Brendan McGloin and Tim Powdrill of Risk Advisory examine the landscape

    Poised for a Mexican wave

    Despite uncertainty about the details, investors are seeing enormous opportunity arising from Mexico’s energy reforms. Yvonne Li reports

    Will the UK’s water tap be turned off?

    Kalliope Gourntis spoke with several industry insiders to gauge market sentiment surrounding Ofwat’s latest price review

    Project finance learns its lessons

    Project finance learns its lessons Ben Macdonald and 2014-12-01 Michael Wilkins With over 20 years’ experience of rating global project finance debt, Standard and Poor’s (S&P) has seen the sector learn some hard lessons from its pioneering days, such as how to counter market exposure (the

    Sustainable dividends

    The infrastructure investing community is moving towards more comprehensive ESG strategies. Yet progress will only accelerate once their ability to enhance returns can be quantified, Meridiam’s Julia Prescot tells Matthieu Favas

    The crown jewel in their sights

    Port of Melbourne is next in line as domestic and international investors continue to target Australia’s ports. Florence Chong examines the reasons why

    The missing ingredient

    Leading European infrastructure professionals gathered in London to share their observations of the region’s opportunities and challenges. Andy Thomson discovered that economic performance was front of mind

    LP Perspectives: The proof and the pudding

    Not every fund that investors have backed has performed according to expectations, but recent vintages seem to have held their promises. This is prompting some LPs to consider infrastructure debt and secondaries

    LP Perspectives: West side story

    North America and Western Europe remain top of the wish list among LPs, with the energy sector fuelling much of their appetite for the asset class

    LP Perspectives: The capability gap

    For all the talk about direct exposure and co-investments, few investors seem prepared to ditch co-mingled funds – with a large majority looking to make new commitments in the near future

    LP Perspectives: More of the same

    Pleased by what they see as infrastructure’s relative outperformance, investors feel under-allocated to the asset class and intend to earmark more capital to target it

    LP Perspectives: Keep fees down and carry on

    If there is one thing investors care about when choosing managers it’s their ability to generate a repeatable track record – at the right price, that is

    LP Perspectives: Back to basics

    Understanding the drivers of returns is a key priority for most LPs, as is finding the right talents to build and grow what they continue to see as a “people business”

    LP Perspectives: Shifting goal posts

    Regulation continues to rank among the top concerns keeping global LPs awake at night – but high levels of competition for core assets is also clouding the horizon

    LP Perspectives: Inside the limited partner

    Infrastructure Investor’s Research & Analytics team surveyed a cross-section of the world’s institutional investor community to establish how they plan to engage with the asset class. Matthieu Favas takes a look at the results