Cezary Podkul

The Latin America-focused private equity firm’s $90m sale of a natural gas compression facility and pipeline in northern Mexico represents the second investment realisation from its Latin Power III fund.

Cities that lease out their infrastructure can swap out one ongoing source of cash for another, as evidenced by the City of Chicago, reports Cezary Podkul.

The fee is the largest yet paid by a Babcock satellite fund to terminate its external management accord with the firm. The management internalisation is scheduled to be complete by 1 January 2009.

The state will not close on the deal after Babcock & Brown, a lead equity sponsor, proposed switching its equity position in the project with Crédit Agricole’s Meridiam Infrastructure fund. It is unclear whether the state will resurrect the project.

Pending a final decision due next year, the UK’s Competition Commission may require British airport operator BAA to sell the two airports in addition to its sale of London’s Gatwick Airport, which is already underway.

Matthew Rose, head of the second largest freight railroad in the US, also believes that private equity firms cannot provide a more attractive cost of capital to railroad assets once they buy them.

Similar to Partnerships UK, Partnerships USA would provide common deal documentation, advice, project monitoring and other support services to help the public sector implement PPPs in the US.

Cezary Podkul explores some of the reasons why LPs are so willing to open up their wallets to GPs in the energy sector.

The Houston-based energy investor started marketing the fund in the second quarter of 2008 and is targeting $2.75bn in total commitments. A first close was held in July, with subsequent closings since then.

The mid-market energy investor is targeting $650m for the fund, which will also have a 15% allocation to coal investments in China. Quintana recently opened an office in Beijing to facilitate these investments.