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Distressed Investment

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.
James Jenkins, who has worked for Lehman Brothers and Credit Suisse, has joined Global Infrastructure Partners as a managing director in charge of investor relations. He will help shore up GIP’s second infrastructure fund.
The $24.7bn pension system will issue separate requests-for-proposals for an alternatives consultant and a real estate consultant, with plans to award new contracts by the end of the year.
LPs searching for new GP relationships have expressed a preference for debt funds and lower-mid market strategies, says partner at CTC Consulting JB Hayes.
The number of distressed debt opportunities should increase next year due to fallout from the European debt crisis, according to an industry survey.

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