Infrastructure
Tata Capital in talks with PFC to launch $1b PE fund
Tata Capital is reportedly in talks with India’s Power Finance Corporation (PFC) to launch a $1 billion private equity energy fund. The private equity player will own 49% of the joint venture, with the remainder held by PFC. Around $300 million is expected...
Armstrong announces first close of cleantech fund on $65m
Singapore-based clean energy investor Armstrong Asset Management has announced a first close on $65 million for its maiden fund, which will focus on clean energy projects across Southeast Asia.
Philippines launches first infra fund
The decision to become the first-ever Philippines-dedicated infrastructure fund can’t have been easy one. As with any vehicle, a number of criteria needed to be in place to ensure the success of the Philippine Investment Alliance for Infrastructure...
Daewoo to set up $1b fund with US partner
South Korean brokerage Daewoo Securities’ Hong Kong unit has reportedly teamed up with a US-based private equity firm to set up a $1 billion fund to invest in social infrastructure projects.
Colonial First State buys TDF’s broadcasting assets in Finland
Colonial First State, an Australian wealth manager owned by Commonwealth Bank of Australia, has agreed to buy French broadcasting group TDF’s Finland business. The company, known as Digita, owns Finland’s largest broadcast tower network as well as...
Macquarie raises $625m for Philippines’ first infra fund
Macquarie Group has announced a first and final close on $625 million for its Philippine Investment Alliance for Infrastructure (PINAI). It is the first-ever Philippines-dedicated infrastructure fund.
Morrison & Co raising $1b for NZ infra fund
Australasian infrastructure investor Morrison & Co. is reportedly looking to raise up to $1 billion for a private equity fund that will target low-risk global infrastructure projects.
BlackRock to acquire Swiss Re Private Equity Partners
BlackRock is buying Swiss Re Private Equity Partners (SRPEP), the European private equity and infrastructure fund-of-funds arm of Swiss Re. The transaction will allow BlackRock’s existing FoFs group – BlackRock Private Equity Partners - to extend...
Australia's Hastings raises $626m for infrastructure fund
Hastings Funds Management announced that its Utilities Trust of Australia (UTA) has reached a first close on its infrastructure fund with commitments of A$610 million ($626 million). The amount is in line with expectations outlined in January 2012 and...
Morgan Stanley invests $210m in Continuum Wind Energy
Morgan Stanley Infrastructure Partners has agreed to buy a majority stake in Continuum Wind Energy for INR12 billion ($210 million). The Singapore-based company, which was set up Essar Group executive Vikas Saraf and investment banker Arvind Bansal, runs...
Indian infrastructure funds face rocky road ahead
Private equity has been one of the engines for India’s infrastructure growth, but delays in project approvals, inexperienced GPs and the tough fundraising environment remain hurdles to overcome
Sentient closes fourth fund at $1.3b
The Sentient Group, a private equity firm that focuses on the global metals, minerals and energy sectors, has closed its fourth fund on $1.3 billion.
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
OMERS, Japan pension funds target $20b infrastructure vehicle
Ontario Municipal Employees Retirement Scheme (OMERS), one of Canada’s largest pension plans, has announced a first close of $7.5 billion on an infrastructure fund set up with a consortium of Japanese pension funds led by Mitsubishi Corporation. The...
Hinduja unveils $500m infra vehicle - report
The Hinduja Group, the diversified conglomerate founded in Mumbai by the Hinduja family, reportedly plans to establish a $500-million fund that will invest in Indian infrastructure projects.
China’s silent auctions
Numbers alone don't really do justice to China’s post-global financial crisis credit boom, but they are impressive nonetheless. A RMB4 trillion ($633 billion) stimulus package was announced at the end of 2008, bank lending rose nearly 130% over the...
CapAsia acquired by US hedge fund
Singapore-based private equity infrastructure investor CapAsia has been acquired by The Rohatyn Group (TRG), a US-based hedge fund focused on emerging markets.
CalSTRS commits $500m to IFM’s infrastructure fund
California State Teachers’ Retirement System (CalSTRS) has committed $500 million to Australia-based fund-of-funds Industry Funds Management (IFM). The capital will be placed in the firm’s Global Infrastructure Fund, which principally targets assets...
Nomura postpones India infrastructure fund - sources
Japanese financial group Nomura Holdings has postponed its plans to launch a $500 million India-focused infrastructure fund due to the uncertain economic environment.
China infrastructure: PE to the rescue?
The era of easy credit in China is over, leaving companies without the means to service debts tied to infrastructure projects. Foreign PE investors are looking for ways to capitalize on the opportunity.
PTC India to set up PE vehicle with sovereign wealth fund
PTC India has agreed to set up a private equity fund with an unnamed sovereign wealth fund, according to the chairman of the state-run power trading company. It will have initial capital of $200 million and target stakes in power projects in India and...
Asian infrastructure: Building blocks
There is no denying the potential for infrastructure investment in Asia. Although the policies and structures governing private equity involvement are improving, it remains difficult terrain.
Blackstone targets $3b global energy fund
The Blackstone Group aims to raise up to $3 billion for its first energy fund, according to people familiar with the situation. Tony James, the private equity firm’s president, said in an earnings call that initial commitments stand at $1 billion.
Macquarie, SBI target second India infrastructure fund
Macquarie Group and State Bank of India (SBI) are targeting $1-1.5 billion for their second India-focused infrastructure fund. Plans for the new vehicle come as the first fund, SBI Macquarie Infrastructure Trust, which closed in March at $1.2 billion,...