distressed Investment

Ten years on, the New Mexico Educational Retirement Board’s Mark Canavan recalls his experience during the global financial crisis and why he thinks it will be almost impossible to predict the next one.

The UN-backed vehicle has partnered EBRD to finance two plants with a combined 80MW capacity in the Benban park.

The firm’s first energy mezzanine fund collected nearly double its $750m target and has already made six investments in both power generation and oil and gas assets.

Speaking at a forum of business leaders, Citadel Capital’s Abdalla ElEbiary said 2013 would be a good vintage year for investors in the Middle East and Africa but that longer holding periods would be necessary. Citadel has a number of infrastructure assets in the region.

The $15bn endowment has established a new GP relationship by committing to Pine Brook, which is targeting $2bn for its second fund.

Queensland Investment Corp has formed a US-based in-house group. QIC-Parc will focus on parking, managing the Ohio State mandate in particular.

What should senior lenders expect in distressed TIFIA-financed projects? Timothy Walsh and Erich Eisenegger of McDermott Will & Emery investigate.

Campaign for Better Transport has criticised various methods that have been discussed for the privatisation of the UK road network. It calls for roads to be funded by public money and for private investors to focus on the rail sector instead.

Michael Horn, with 20 years’ experience in areas such as infrastructure and structured finance across Asia, has joined law firm Clyde & Co as a partner. His past deals included the A$695m acquisition and refinancing of Sydney’s Cross City Tunnel.

The position will be responsible for managing the $39bn endowment’s $5bn private market co-investment programme, which consists of private equity, infrastructure and other strategies.