Latest Europe Analysis

  • Data Analysis: Europe and energy still funds' favourite

    Europe and energy - across traditional energy and renewables - continue to be the most significant focus at the start of 2018 for unlisted, close-ended funds raising capital globally

  • Listed infrastructure funds adapt to a changing environment

    Increasing interest rates, limited assets and competitive market conditions are steering UK listed infrastructure funds towards new markets in search of better returns

  • Show me the (infra) money…

    January is traditionally a time for reflection, but moreso it’s a time to plan for the year ahead and ensure you’re in position to make the most of the market… which is not so easy these days given, as one old chum puts it nicely: “It’s hard to eke out an existence when there’s a dearth of opportunity”

  • The new year – back for another swing

    A couple of (hopefully) amusing anecdotes, a preview of our league tables which will be published in a couple of weeks' time and mulling the awards for which we shall hosting judging sessions over the course of this month

  • New rolling stock lessors continue to challenge ROSCOs

    The UK’s recent West Midlands rolling stock deal marks another slice of the sector taken from the traditional rolling stock operating companies (ROSCOs Angel Trains, Porterbrook, and Eversholt) by challenger lessors

  • Waste PPP projects – trials and tribunals

    The waste sector has ever been a tricky one for PPP and the latest English project to be tangled up in legal battles serves as a cautionary tale for the global infrastructure sector. Essex County Council and the SPV contracted to deliver and operate the MBT plant – Tovi Eco Park – in Basildon have gone to war...

  • Infrastructure funds – big news

    In the same week that IJGlobal goes live with our infrastructure funds database – IJInvestor – it feels appropriate to turn the focus on an interesting trend in the equity space: the rise of technical advisers as investors.

  • French transport – foot off the pedal

    As the European infrastructure market – road and rail – wallows in the doldrums, it seems to be the same things keeping everyone busy, and that’s refinance opportunities. However, when it comes to greenfield, few markets are stagnating as much as France

  • Goldmans – making PF bankers grind their teeth

    Talking to sources in the market this week, it was fascinating to hear that Goldman Sachs booked the biggest single profit event for the previous two years on HS1 – the high-speed rail line from London to the English end of the Channel Tunnel

  • Global equity funds dominate 2017 fundraising

    Among unlisted, closed-ended infrastructure funds reaching final close in 2017, strategies geared towards global equity investments have taken up a vast chunk of the total capital raised

  • Bursa hospital exposes lender limits in Turkey

    Turkish hospital deals are becoming increasingly dependent on DFI and Asian bank debt, as local and European lenders seem less than keen on extending their exposure to the market

  • Abertis – high prices, deep pockets

    It’s the biggest infrastructure deal in the market, the one everyone’s talking about – two giants of the European infra community slugging it out to acquire Spanish toll road operator Abertis… but it’s a deal that has more than a few wondering what the hell’s going on

  • Fund analysis: AMP Capital IDF III

    AMP Capital signed off on the final close for its third infrastructure debt fund at the $2.5 billion hard cap on 10 August, having started fundraising in Q1 2016

  • The Russia bear awakens

    With the Russian economy on the mend, investment commitments have been pouring into the country this year from the Middle East and Asia, particularly in the energy sector

  • Peaking interest

    The UK “peakers” industry has shot to attention for fund managers this year, with sales of two companies owning flexible peaking power plants underway. A regulatory change to embedded benefit payments enacted this June has effected these companies’ revenue streams, meanwhile potential buyers will be taking a view on the existential threat to the sector from emergent battery storage technology

  • Norway's PPP contract off the beaten track

    Norway’s upcoming road PPP programme is kicking off with the Rv3/Rv25 Ommangsvollen – Grundset/Basthjørnet project, for which three bidding consortia were shortlisted in June 2017

  • Even educated fund managers do it…

    DIF do it, EISER do it, even educated Arcus do it. Let’s do it. Let’s flip a fund. That almost trips off the tongue, and it’s a darn site easier to sing than to achieve. It would appear that when it comes to infrastructure equity funds, Aristotle’s aphorism that “the whole is greater than the sum of the parts” rarely stands true

  • Offshore wind - big business

    Though 2017 has so far been a quiet year for offshore wind financings, the horizon is littered with turbines out at sea.

  • A lesser concession…

    Interesting times and stretching the definition of infrastructure, it’s all you hear these days. Heck, it’s all we’ve heard for a good long time and anyone relentlessly beating that drum needs to take a look at just how worn the skin’s starting to look

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