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Latest Social & Defence Analysis
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Who’s afraid of the CLO?
Social & Defence Asia PacificNot all financial instruments with three-letter acronyms are scary. CLOs for infrastructure debt are not only making a comeback but now being promoted as a solution to climate change
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Libor transition – buckle up for a rough ride
Social & Defence EuropeThe infrastructure industry is bracing for a storm of monumental proportions as the market readies itself for the transition away from established inter-bank lending rates that underpin many billions of dollars of loans across this global sector
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The great infra fund bean feast
Social & Defence EuropeIn a world ruled by data – its capture, storage and the limitless capacity for manipulation – one of the mainstays of an infra hack’s life is to anticipate market shifts based on hard facts and a rather splendid database. This week’s missive turns the focus on infra funds and the anticipated uptick in activity that’s impacting the industry and looks set to dish up a bean feast for years to come
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Ravenhall Prison PPP refinancing, Australia
Social & Defence Asia PacificThe US private placement refinancing of Ravenhall Prison PPP in Victoria has achieved a record tenor, going out to the end of the project's concession term in 2042
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Fund focus switches from Asia Pacific to social infra
Social & Defence Asia PacificAs eight unlisted, closed-ended infrastructure funds raised $20.6 billion at final close in the first quarter of 2019, some interesting trends have emerged from the IJInvestor Funds and Investors Q1 2019 report
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Infra funds – pride before the fall
Social & Defence EuropeSince the beginning of time, the masses have been enthralled by building higher and bigger… a hubristic trait that usually ends badly and is repeatedly played out in the infrastructure funds space. This is why our quarterly report on fundraising by global infrastructure funds has so many in the industry predicting doom
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Social housing bundle 1 PPP, Ireland
Social & Defence EuropeFinancial close on bundle 1 of Ireland's first social housing PPP project comes at a time of mounting pressure on the housing market, with a shortage of housing supply, an increased demand for home ownership and cases of half-built properties dotted across the country
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Sharing “spillover tax revenue”: a revolution in infra
Social & Defence Asia PacificIndia’s new national broadband network could be the first project to enact an entirely new concession model, one which could revolutionise infrastructure finance
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UAE procurement – on the brink of change
Social & Defence MENAThe lack of a full PPP programme has held back international private investment for years. To change this Abu Dhabi recently implemented a new PPP law
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Infra fundraising – oops we did it again
Social & Defence EuropeIt’s unseemly to crow about one’s victories in the heavily-contested area of data gathering on fundraising by unlisted, global infrastructure funds… but sadly, it’s also irresistible. Over the course of 2018, IJInvestor logged final close on $104 billion raised by funds – closed- and open-ended, with equity and debt strategies – putting us a country mile ahead of our rivals
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You queue and wait - Kuwait PPP
Social & Defence MENAKuwait has once again restructured its PPP agency to kick-start stalled projects. Despite numerous delays and setbacks, its infrastructure ambitions remain extensive
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Investment in India gathers momentum
Social & Defence Asia PacificIJInvestor data shows that international funds and institutional investors are already active in the market. There are 36 active funds focusing solely on India with a target of investing over $90 billion of capital
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Infra fund dilemma – blame the pig or the feeder?
Social & Defence Asia PacificIn the same week that Luxembourg announced plans to legalise cannabis (and make all public transport free), folk have been wondering whether many infrastructure fund managers will domicile in the small European duchy to enjoy the benefits of a liberal system while they play fast and loose with targets and hard caps
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It’s beginning to look a lot like infra…
Social & Defence Asia PacificWelcome to the final missive for the year written in the teetering shadow of a mountain of IJGlobal award submissions in advance of signing off for 2018 and wishing you all a merry Christmas and the very best for 2019
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Royal Inland Hospital, British Columbia
Social & Defence North AmericaThe recent financing of the Royal Inland Hospital Patient Care Tower project featured the first internationally accredited green bond in the Canadian P3 market
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The Caribbean – welcome to PPParadise
Social & Defence North AmericaMany people find it hard to look beyond sun-drenched beaches and cocktails when it comes to the Caribbean. But with 28 countries and a combined population of 42.5 million, there’s a strong argument for rebranding it “the land of sun, sea and PPP”… if it can follow the example of Jamaica
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Howard County Courthouse P3 – Maryland, US
Social & Defence North AmericaIt is almost unheard of in the US for a P3 project to go from procurement to financial close in just under a year. However, this is exactly what happened with the $150 million Howard County Circuit Courthouse P3 in Maryland, which reached financial close in October, setting a precedent for how infrastructure projects should be procured in North America
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Infra funds – cards on the table again
Social & Defence EuropeIn anticipation of publication of our quarterly funds and investors report, the temptation is too great to hold back our key findings, laying our cards on the table and smiling knowingly at rivals that our data wins the day again
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Shouting at credit committees
Social & Defence Sub-Saharan AfricaAfter a lumpy year to date and a deathly-quiet August, the global infrastructure community is bracing for a rush to Christmas with many fearing that the first quarter of 2019 will be fairly sedate – particularly in Europe