Cezary Podkul
Funds with riskier investments should weigh their managers' compensation plans with greater helpings of carried interest, while those managers of less risky assets should be paid a more routine base salary and bonus, according to a recent report from Mercer.
As President-elect Barack Obama unveils plans for economic stimulus that includes $25bn of direct spending in US infrastructure, public sector figures like Anthony Shorris are urging governments to re-consider privatisation as an option for meeting the nation’s infrastructure spending needs.
Following the resignations of the firm’s founder, Jim Babcock, and former chief executive, Phil Green, Dieter Rampl and Joe Roby, non-executive directors based overseas, also have resigned from the board of the struggling Sydney-based infrastructure specialist.
As public private partnerships roll across the globe, lawmakers should know that successful PPP rules include one key risk control - a guarantee that the private investor gets paid if the government changes its mind.
As the struggling Australian infrastructure specialist works to unfreeze more than A$100m held by Germany's HypoVereinsbank, its 12 listed funds are likely to carry on 'business as usual', according to a person familiar with the matter.
Tim Pfister and Jay Fortin, project finance and M&A lawyers at Patton Boggs in New York, also believe the political climate for foreign investors is likely to improve as the US comes to grips with its massive infrastructure spending needs.
Currency hedges gone sour are also forcing many of Australia’s pension investors to put more cash toward meeting margin calls, making a fraught fundraising environment even more difficult.
Effective 1 January 2009, Sir John Collins, former chief executive officer of oil giant Shell’s UK operations, will join the company’s six other non-executive directors.
Mary Peters again urged Congress to change the way the US finances its transportation infrastructure as the nation's highway trust fund revenue fell by $3bn in the lastest fiscal year and Americans drove 90 billion fewer miles.
To be awarded as concessions or as PPPs, the the projects will seek to attract R22bn of private investment between now and August 2009, the state news service reported.