Cezary Podkul

The government gave the go-ahead to the £8bn project after determining that it would not breach conditions on air and noise pollution and public transport access. The runway faces stiff opposition from local groups and Conservatives in Parliament.

Just as LBO firms are invading infrastructure, established infrastructure players are invading the emerging markets, writes Cezary Podkul.

The KPMG-sponsored survey of global business leaders also found that business leaders around the world consistently said that roads and energy were the two sectors of infrastructure most urgently in need of investment.

The build, design and maintain project was cancelled following a ruling by the country’s supreme court. It will be re-launched once the plan for the road is approved again.

Expressions of interest are now being sought by the Jefferson Parkway Public Highway Authority to design, build, finance and operate an initial 10-mile stretch of a toll road that will help complete the unfinished beltway around the city.

In the absence of a deal with Transurban, the seller, Macquarie Infrastructure Group, will offload its 50% stake in the Sydney toll road to another MIG-owned investment vehicle for A$805m. Transurban cited ‘funding options in this current market’ as a factor in declining to acquire the stake.

The 2008 year-end total is 28% less than the $34.3bn raised by infrastructure funds in 2007. Just $3bn was raised in the fourth quarter of 2008, according to figures compiled by placement agent Probitas Partners.

Despite the departure of George Bilicic as its head of infrastructure, the buyout shop is forging ahead with plans for its foray into the asset class.

The proceeds from the sale of gas supplier Alinta EATM could reach A$35m if certain other conditions are met. The Australian Stock Exchange-listed power investor has been selling assets in an effort to pay down debt but it has yet to decide how it will use the sale proceeds.

The fund has bought out all non-Barclays investors in another Barclays Private Equity-managed fund, Infrastructure Investors. The transaction is meant to give the newly raised fund ‘critical mass from the outset’.