Andy Thomson
Why limited partner capital could be finding its way into the wrong funds. By Andy Thomson
Divided opinion 2010-04-01 Andy Thomson <P>Turn to p.14 of this, the April 2010 issue of Infrastructure Investor, and you’ll find out why one US pension considers now is the time for it to start becoming a “premier infrastructure investment manager” while a second US pension does not even believe that
In a pre-close update issued ahead of its annual results announcement in May, 3i Infrastructure managing partner Cressida Hogg spoke of a “clear improvement” for infrastructure investment, including “a more favourable macro-economic outlook, stabilising asset prices and more realistic price expectations among vendors”.
Alinda Capital Partners, the New York-based infrastructure fund manager which closed a new fund on $4bn earlier this year, has made a major move into the US gas storage market through the $505m NorTex Gas Storage Company deal.
Why are some pensions much keener on infrastructure than others? The role of consultants may be key.
Why limited partner capital could be finding its way into the wrong funds.
The Greek government has awarded a major road project to a consortium of three domestic construction firms and one from Italy. The €291m project, scheduled to complete in 2013, is the first step in an infrastructure programme designed to boost Greece’s ailing economy.
New Zealand investment firm Morrison & Co and investment advisory firm Craigs Investment Partners have teamed up to raise as much as $125m for a fund focused on social infrastructure opportunities in New Zealand.
The $451m Cebu Power project - the ‘first ever internationally financed merchant power project in the Philippines’ – has received substantial bank finance. The first of two planned units designed to alleviate power shortages is due to become operational in about a year’s time.
In the March 2010 issue of Infrastructure Investor magazine, Alinda Capital Partners’ managing partner Christopher Beale claims that the bubble years were effectively a 'laboratory experiment' for infrastructure investment. When GPs misplaced the fundamentals of sound investing, the experiment went wrong.