Cezary Podkul
The previously announced sale of minority stakes in Copenhagen and Brussels aiports, approved by Macquarie Airports shareholders on Friday, will constitute Macquarie European Infrastructure Fund III’s debut transaction. Targeting north of €5.5 billion in commitments, it is Macquarie’s largest pan-European infrastructure fund.
Marking the latest step in its ongoing strategic review process, the Australian fund manager will add more independent directors to the boards of its satellite funds and alter the structure of its fee income as manager.
Unable to find a superior offer amid 'the current turmoil in the capital markets', Teranet’s board withdrew its opposition to OMERS’ unsolicited bid for the provider of electronic land registry services. The offer was set to expire on 17 Oct.
A rival bidder of Babcock & Brown's Communities arm, Prime Retirement Trust, is seeking to force shareholder approval for significant parts of Lend Lease’s competing $236.8m offer to buy a 40 percent stake in the retirement village investment fund.
The city’s aldermen approved the Citi Infrastructure Investors-led consortium’s $2.5bn bid to privatise Midway Airport, the largest such privatisation in the US to date. It came after the $12.8bn Pennsylvania Turnpike offer, in which Citi had also been involved, expired without a legislative vote.
Private equity investors looking to finance infrastructure projects in Australia may soon have a new competitor after the Australian government agreed to accelerate the creation of its Building Australia Fund.
The recommendations come as the region finds itself with rising infrastructure investment needs and limited public capital resources to meet them. Private finance initiatives, a type of PPP financing arrangement, have so far only accounted for 1 percent of the UKs total spend on such projects.
Dominique Senequier, speaking at a recent press lunch, listed ageing infrastructure, regulation and new services among the drivers of growing infrastructure investment needs in OECD countries. Developing Asian economies also face steep financing challenges but offer more attractive returns.
The landmark bid, whose deadline for acceptance was twice pushed back in hopes of getting Pennsylvania legislators to approve it, lapsed on Tuesday after Abertis decided not to extend it any further.
The first of its kind country-specific mezzanine infrastructure fund will target early stage development projects in Brazil. The fund is a joint venture between Darby and Stratus Group, a Brazilian private equity manager and advisor.