Cezary Podkul
The city will look to invest in domestic infrastructure funds after making an initial investment in the asset class earlier this year and recently taking a beating in its US equity allocation, according to New York City Comptroller William Thompson.
With €300m already invested in infrastructure, the €40bn Bayerische Versorgungskammer will seek more infrastructure investments as it aims for a 1.5 percent target allocation over the next three to five years. A 1 percent timber allocation also is in the works.
Additionally, the Sydney-based infrastructure asset management heavyweight enabled shareholders to nominate and vote on the appointment of all directors on the boards of Macquarie Infrastructure Group, Macquarie Communications Infrastructure Group and Macquarie Airports.
Michael Queen told delegates at PEI's Infrastructure Investor Forum in New York that listed funds are better shielded from ‘flip pressure’ than closed-end vehicles, despite difficulties in constructing a tax-efficient carry scheme.
With €300m already invested in infrastructure, the €40bn Bayerische Versorgungskammer will seek more infrastructure investments as it aims for a 1.5 percent target allocation over the next three to five years. A 1 percent timber allocation also is in the works.
The oil-rich country of 150 million people also provides infrastructure investors ‘a market of people who can pay for the services that you can provide’, says African Finance Corporation CEO Solomon Asamoah.
With €300m already invested in infrastructure, the €40bn Bayerische Versorgungskammer will seek more infrastructure investments as it aims for a 1.5 percent target allocation over the next three to five years. A 1 percent timber allocation also is in the works.
Blackstone infrastructure co-head Trent Vichie and Chris Leslie, CEO of Macquarie Infrastructure Partners, say only a fraction of what's needed for infrastructure investment worlwide has been raised by private funds. Meanwhile CVC’s infrastructure chief, Stephen Vineburg, also speaking at PEI’s Infrastructure Forum in New York, said infrastructure investing has reached a third stage in development.
Discussing his experiences with London City Airport, GIP's flagship airport asset, Adebayo Ogunlesi also said infrastructure assets like airports are not immune to economic downturns.
Some US officials are pushing for the introduction of public private partnerships to create permanent funding sources for transportation projects. California, New Mexico and Texas are among the states that say they need private funds.