Cezary Podkul
The Macquarie Pastoral Fund has surpassed A$750m in commitments and is hoping to secure the final A$250m in the first quarter of 2009. It was originally hoping to wrap-up its fundraising effort by year-end 2008.
A new report also predicts two million jobs could be created by 2010 if global private equity infrastructure funds were geared to 60% and invested in the US alongside federal stimulus.
Transportation Secretary nominee Ray LaHood described public-private partnerships and the tolling of new roads and bridges as “outside the box” ideas the US government should consider in reauthorising an important transport spending bill later this year.
Twenty-four toll road projects in the US have involved PPP-type arrangements, out of a total of 235 projects implemented since 1992. PPP approaches are being considered for another 24 toll road projects, according to a study published by the US Federal Highway Administration.
A Bilfinger Berger-led consortium was awarded the contract to design, build, finance and operate an 11km section of the country’s M80 motorway.
Spain’s Global Via and ACS emerged as two of the respondents to the Pennsylvania Turnpike Commission’s request for concepts and solutions for completing unfinished segments of 50 miles of toll roads near Pittsburgh. None provided cost estimates for the project.
Global Infrastructure Partners and a consortium consisting of Citi Infrastructure Investors, Vancouver Airport Services and John Hancock Life Insurance have emerged among the bidders for the UK’s second-busiest airport.
Parties to the $7.4bn take-private of the largest utility in Washington State see no remaining obstacles to the transaction after state regulators' approval of the merger.
407 ETR issued $500m of new senior notes due 2012 and will retire $400m of senior bonds due this year. The issuance indicates toll road operators' ability to refinance their assets despite a difficult credit environment and softening traffic figures tied to the overall economic slowdown.
The firm began the fundraising effort for its fifth energy fund in summer 2008 and held a first close on $670m in November. If successfully raised, it will be the largest fund it has yet raised for the sector, which has seen continued fundraising strength.