Cezary Podkul
The law will enable the Riga City Council, one of advisors on the law, to move forward with its $2 billion Northern Corridor highway project. It is the largest PPP-type project currently under development in Latvia and the Baltic Region and may go to bid as early as 2010.
Standardising all fund carry to be on a deal by deal basis and getting banks lending again are among KY Tang's top 10 private equity wishes for 2009.
The nine-member Legislative Study Committee on Private Participation in Toll Projects argues that the state should allow PPPs for toll roads to go forward without a right of first refusal for local tolling authorities to develop them. The committee included Bob Poole, director of transportation studies at the Reason Foundation.
The head of Global Infrastructure Partners, a firm formed by Credit Suisse and GE Infrastructure in 2006, explains why the infrastructure asset class is poised for further growth. Among other issues, hear him discuss GIP's deal for London City Airport and why he doesn't like toll roads in InfrastructureInvestor's first multimedia presentation.
The listed Australian infrastructure investor sold one-third of its interest in the water utility to give itself flexibility as it pays down debt and repurchases shares, said CEO Steve Bickerton. UBS Global Asset Management will manage the stake on behalf of the buyer, a UBS client and investor in its $1.5bn infrastructure fund.
Republican Ray LaHood, picked by US president-elect Barack Obama as transportation secretary, is described by those who know him as a 'main street conservative'. Obama's choice came as a surprise to some who were expecting a more high-profile candidates like Pennsylvania Governor Ed Rendell or Minnesota representative Jim Oberstar.
The proposed private equity fund will be managed by Prescient Fieldstone Investment Management and target final commitments of $500m. A first close is scheduled on $150m.
The Sydney Stock Exchange-listed toll road developer blamed the fall in valuations on current market conditions and lower traffic forecasts due to the recessionary environment in North America.
The ABN AMRO Highway private equity fund will work together with Vinci Concessions of France to design, build, finance and maintain a 52-kilometre expressway in the Central European nation.
The multilateral investment arm of the World Bank committed $300m toward the equity portion of the three-tier facility and will seek additional commitments of $1.2bn to $10bn.