PPP

The Infrastructure Fund is facing a large redemption queue as merging Australian superfunds seek to rebalance portfolios.

The two Michaels – Bessell and Cummings – talk about integration, the synergies between infra and real estate, and the strength of the Australian market.

The proposed merger of IFM Investors and ISPT is the latest in a string of examples of GPs seeking to combine infra and real estate strategies.

11 schools across the country among the assets snapped up by Amber Infrastructure from New Zealand-based Morrison & Co’s PPP-focused Public Infrastructure Partners fund for NZ$200m.

Universities are turning to public-private partnerships to enhance energy efficiency, notes Anthony Phillips, co-head of PPP and projects at John Laing

The project, closed last month, was nearing financial close at the beginning of 2020. Then, the pandemic struck and the risk structure was overhauled.

The programme to repair and replace nine bridges across the state has been declared by a Pennsylvanian court as invalid from inception.

The Department of Energy expects the project to result in multiple public-private partnerships, four regional direct air capture hubs and an onset of research and development for the budding domestic pollution market.

Canada’s second-largest pension fund has been paid C$100m to step away from the project after a public backlash led the government to take on the project itself.

The Meridiam-led project reached an agreement with the State of Maryland to seal a new $2.7bn financial close and procure a new design-build contractor.