Matthieu Favas
Jim Barry and Mark Florian, respective infra heads at the two US firms, tell Infrastructure Investor about the acquisition’s rationale and how it will help BlackRock move up the risk curve.
The deal, which comes nearly two years after both firms first partnered in Mexico, will bump up BlackRock’s infrastructure assets to $14bn.
We get a brief on the UK’s possible relationships with the lender and the European Fund for Strategic Investments once the country is now longer an EU member.
The emerging markets firm is targeting returns of up to 23% for the vehicle, which is poised to invest in an Ivorian hydro project in Q1.
Nandita Parshad will be responsible for investing €2bn a year, about a quarter of the bank’s annual activity.
The Spanish developer has paid €491m to increase its stake in a company that operates nearly a quarter of the country’s toll road network.
The German-based firm says ‘strong client demand’ could allow it to raise nearly twice as much as it collected for its debut vehicle.
The $307bn Californian pension underperformed its one-year benchmark by 5.1% in 2015-2106 and generated a small loss over the decade.
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Multilaterals and DFIs would have more success in plugging infrastructure gaps if they shifted focus from lending to risk mitigation.
Richard Samans, a board member of the World Economic Forum, thinks development banks would unlock more private capital for infrastructure if they focused on mitigating risks.