Cezary Podkul

With announced deal volumes totalling $3bn in the first eight months of the year, the two sectors are proving to be resilient investment targets in a year that has seen Indian private equity deal value drop by 20% through September.

Marking the Latin American infrastructure-focused private equity firm’s largest equity commitment in the region, Conduit will buy a 50% equity stake in Brazilian hydroelectric developer GLEP in a deal said to be in excess of $50 million.

A bellweather for toll road concessionaires globally, the Spanish toll road operator said it would ‘be a surprise’ if traffic on its US toll roads improved next year. Despite the weak traffic conditions, Cintra reported increased revenues of €806.9m for the first nine months of the year.

Paul Smith sees increasing interest in co-investment among the firm’s LPs, who have largely upped their commitments for Tenaska’s second US energy fund, TPF II, which closed today on $2.4bn.

Exceeding the initial fundraising target by $900m, the Omaha-based private equity affiliate of energy producer Tenaska Energy will seek to invest the second fund across the same sectors as its first US energy fund, which closed on $838m in 2005.

George Bilicic, who joined KKR in May, will rejoin Lazard as chairman of its power, utilities and infrastructure practice. A source familiar with the matter said Bilicic is leaving the firm over differences about how KKR should build out its infrastructure team.

Citing deteriorating economic and financial market conditions and increasing cost of capital, Canadian pension’s infrastructure investment unit has lowered its bid for the Toronto Stock Exchange-listed income fund by about C$116m.

Aimed at becoming one of the largest owners and operators of cattle and sheep farms in the world, the fund is close to reaching its goal of raising between A$1bn to A$1.3bn, says fund director Tim Hornibrook.

The Spanish construction company will finance, design and build additions to Florida's I-595 corridor in the next five years and then operate and maintain it for an additional 30 years. The State of Florida will control the toll rates and collect tolls.

The Namibian joint venture between affiliates of South Africa’s Old Mutual Group will seek a black empowerment enterprise partner for the stake. The fund is targeting investments of around $360m in infrastructure, mining and private equity in 2009.