Cezary Podkul
The city’s airport management arm has received feedback from 10 investors on a potential privatisation deal, which indicates there is support for an ongoing revenue-sharing arrangement.
Don Conway, former head of direct investments at Australian asset manager CP2, is joining the firm as a managing director on its Sydney infrastructure team. Conway’s hire is the latest in a streak of professionals the firm has hired from CP2, Rotshchild and Highstar Capital in recent months.
As a recent move by Quebec’s La Caisse demonstrates, resilience has become a reason to deleverage infrastructure assets and enjoy their inherent stability. Times have clearly changed, writes Cezary Podkul.
Deputy Mayor Stephen Goldsmith said he’s looking for advisors who will help him do PPPs that are more creative than deals like Chicago’s parking leases. He's issued an RFP that asks prospective financial advisors to brainstorm PPPs for New York’s parking meters and other assets.
The €450m acquisition of additional gas connection points in the Madrid region is poised to make Morgan Stanley Infrastructure Partners the third largest gas company in Spain, as well as to add to a tally of exclusive deals chief executive Sadek Wahba’s been tracking over the course of investing his $4bn fund.
The infrastructure investment arm of the C$53.3bn Ontario Municipal Employees Retirement System beat its benchmark by 1.6%.
Each firm topped three categories in Infrastructure Investor’s second annual awards poll, the most of any nominee. GIP took the title of Global and North American Fund Manager for the second year running.
The portfolio returned 25.4% in 2010, beating every other asset class except private equity. The Caisse de Dépôt et Placement du Québec also cut C$6.7bn of debt out of its infrastructure and private equity portfolios in 2010 as part of an effort to boost risk management.
Macquaries’s New York Stock Exchange-listed infrastructure fund was expecting to use cash from one of its subsidiaries to fund a portion of its newly reinstated dividend, but a co-investor in the subsidiary, International-Matex Tank Terminals, has refused to distribute cash from the business. The firm has initiated a dispute resolution proceeding to free up the cash.
Global Infrastructure Partners is raising its second fund without the help of a placement agent. The firm raised its first $5.64bn fund in 2008 with the help of Credit Suisse.