Distressed Investment

David Bonderman, TPG’s founder, reportedly has said he is interested in the country’s aviation sector, including airports.

The EU-focused infrastructure investment firm, which is currently raising its debut fund, has appointed three independent members to its management board and investment committee. This follows swiftly from three new hires at Marguerite Advisor, the fund’s advisory company.

The winning offer came from a team of JPMorgan and LAZ Parking and carries a 1 November deadline. Runner-up EQT had offered $423m while Carlyle Infrastructure Partners, at $311m, was eliminated during the first round of bidding concluded last week.

The drama surrounding the relationship between CalPERS, Apollo and controversial placement agent Alfred Villalobos continues. Investment staff at the $206bn pension allegedly questioned the relationship as long ago as 2006.

A high-ranking CalPERS private equity official allegedly asked Apollo's Leon Black in 2006 to bring investment opportunities directly to him, rather than using 'third parties'.

The fund exceeded its initial $3.5bn target, and will invest primarily in North American infrastructure assets. The close makes Energy Capital at least the third fund manager to close a fund above target this year, after Alinda Capital Partners and Cube Infrastructure.

David Ryan resigned as chairman of Transurban today just as the toll road operator announced a swing back to profit. Chief executive Chris Lynch expressed surprise about the resignation in a conference call with reporters. Lindsay Maxted, ex-chief executive of KPMG Australia, takes his place.

The Macquarie Infrastructure Company predicts it will have up to $40m of cash on its books by year’s end. CEO James Hooke said the company may use the money to pre-pay some of its debt or buy back shares, though he has not yet made up his mind on either course of action.

Hewitt Associates’ plan to acquire EnnisKnupp will build out the firm’s investment consulting business, advising LPs on private equity, real estate and infrastructure investments. Hewitt will pick up several of EnnisKnupp’s large pension fund clients that allocate to private equity.

The Korea Investment Corporation has appointed Swiss-based alternatives firm Partners Group to help it invest in private real estate strategies