June 2017 Issue


    Month: June
    Year: 2017

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    Everything in moderation

    Investors are broadly happy with the benefits that subscription lines can bring to their funds, but the facilities may contain restrictions they need to be aware of. Andy Thomson reports

    Credit where it’s due

    Ever since Oaktree’s Howard Marks sounded the alarm on subscription line financing, criticism has rained down on an established product. Kalliope Gourntis spoke to a number of GPs to separate fact from improbability

    Getting creative

    OTPP has been under-allocated for most of the 15 years it has been investing in infrastructure – until now. Infrastructure chief Andrew Claerhout tells Bruno Alves how the pension threw out the rule book, opened itself up to new sectors and geographies, and acquired the skills to become a serious developer of greenfield assets

    Why value creation matters

    As investors increasingly warm up to core-plus strategies, Partners Group’s global co-head of private infrastructure Brandon Prater explains how the firm approaches value creation and why being able to draw from its different business lines plays a key role in adding value

    Frequent delays

    Governments in Canada and the US are planning major infrastructure investments, but investors hoping for airport assets to come to market may have to wait a while longer. Jordan Stutts reports

    Vanishing vanilla

    While governments’ appetite for renewables is likely to outlive today’s political volatility, the pipeline of low-hanging deals is drying up. Five industry experts tell Matthieu Favas about the role of development banks, how to foster emerging technologies and what LPs want.

    A hand in both pockets

    A clean energy bill in Nevada has sent those for and against the proposal to some familiar lobbyists

    Wrong time, wrong place

    A diary helpfully provided by France’s VINCI is missing just one crucial item: Tuesday

    The rise and sale of the world’s first green bank

    A Macquarie-led consortium has bought the UK’s Green Investment Bank, prompting questions about the bank’s future role in financing the country’s green economy and its original mission as a catalyst of new technologies. Zak Bentley investigates

    From lenders to conduits

    Multilateral development banks have historically measured success in the infrastructure sector by how much capital they deployed. But as they look to engage the private sector, risk mitigation and credit enhancement is the name of the game now. Andrew Vitelli reports

    Spotlight: Truston Asset Management

    Jade Changsuk Ok was formerly head of global infrastructure at Korea's National Pension Service, where he was involved in building the pension fund’s $11 billion global infrastructure portfolio. In an interview with Nia Tam, Ok talks about Korean investors’ appetite for infrastructure, their preference for debt and why the country’s $100 billion private institutional investors will soon warm up to alternatives.

    An important win

    EISER’s arbitration victory over the Spanish government’s retroactive subsidy cuts gives hope to investors

    A game changer for infra?

    As GPIF takes its first steps towards infra, participants at our Tokyo Summit suggest the country’s LPs look set to follow suit