Cezary Podkul
The pension has investments in its pipeline that could bring its total commitments to the asset class to $1bn or more by early 2010. CalPERS has already invested $700m to the asset class.
The Australian investment bank now has a dedicated group of managers for its principal investments in North America, as opposed to having investment bankers who originated the investments manage the assets.
The emerging markets-focused private equity firm, which in October closed on $750m for its second infrastructure fund, may drop the word ‘infrastructure’ from future funds, Actis senior partner Paul Fletcher said in an interview.
But despite A$414m in gains from listed fund buyouts and internalisations, the Australian investment bank still posted A$414m in net write-downs due to other adjustments. In May, Macquarie had disclosed A$417m in write-downs across its managed funds.
The Dutch infrastructure manger held a second close in August on Dutch Infrastructure II after collecting €220m and is looking to hold the third close by the end of October. New investors include Dutch life insurer Achmea and Swiss alternative asset manager Partners Group.
Peter Kind has been appointed a senior managing director in Macquarie’s power, utilities and renewable energy advisory team, while Kevin Charlton will serve on a team that manages Macquarie’s principal investments, including infrastructure.
Private equity infrastructure funds have long used different structures than their traditional private equity peers.The asset class provides some intriguing examples of the benefits and drawbacks of some innovative models, among them the open-end fund structure.
After paying A$547 million to the mother ship, Macquarie Airports is taking its management in-house, leaving little hope for other externally managed ‘satellite funds’ to stay in orbit, argues Cezary Podkul.
The world’s largest manager of infrastructure assets says it expects its half-year profit to grow even as Macquarie Capital, its investment banking division, continues to show weak results.
The Guy Hands-led firm is one of several investors interested in PD Ports, the UK port operator owned by Babcock & Brown Infrastructure. CVC, HgCapital, Carlyle and Star Capital are also reportedly interested in the asset.