Download - Infrastructure
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FINANCING THE NEXT SUEZ CANAL
www.jimdewilde.net
ROTMAN CLASS October 25, 2011
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New financing models Innovation in municipal bonds Public private partnerships (learning from
Eurotunnel)
New projects Korean financing and ADB
Investing in Infrastructure
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There is an asset category which institutional investors now
like called infrastructure funds. From the profitable privatization of airports to the development of smart roads or toll roads as a profitable investment strategy, this has produced a series of interesting case studies:
(1) (VIENNA AIRPORT privatization, ITALIAN TOLL ROADS); (2) Brazilian and India infrastructure funds become an
increasing part of the investment scene as a play on “emerging” market growth;
(3) Governments with declining tax-bases (e.g. U.S. states) seek privatization of infrastructure as a way to shift expensive categories (water system reconstruction) to potential sources of revenue.
Infrastructure Investment as an asset category - I
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These issues become an essential part of the capital market moving forward and a
significant new component of effective investment banking.
(1) How to finance the building of bridges in Montreal, where the financing of south shore bridges becomes a cornerstone of economic development and avoid the EUROTUNNEL situation.
(2) How Indiana, generally considered a well-run state looks to take advantage of its positive image in the bond market to reconstruct infrastructure;
(3) Why infrastructure (roads, ports, railways) become a cornerstone of investment strategies in global high-growth regions (picking Pernambuco in Brazil as a case study) and
(4) how Ontario has become a global centre for infrastructure finance. The concentration of infrastructure financing expertise in Toronto is a topic worth exploring, given the role here of Macquarie ?
http://www.macquarie.com/mgl/mig , CPPIB http://www.cppib.ca and other
Issues of infrastructure finance - II
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CASE STUDY #1 INFRASTRUCTURE AND PRIVATIZATION :
www.global-infra.com GLOBAL INFRASTRUCTURE PARTNERS Fund backed by GE and Credit Suisse.
CASE STUDY #2 INDIANAPOLIS ?http://www.bondbuyer.com/issues/119_271/Indianapolis-Local-Public-Improvement-Bond-Bank-1006801-1.html
CASE STUDY #3 SMART ROADS as an investment category http://seekingalpha.com/article/267316-for-whom-the-road-tolls-reviewing-listed-toll-roads-bridges-and-tunnels and http://www.matternetwork.com/2010/5/smart-roads-path-super-efficient.cfm
CASE STUDY #4 FROM VIENNA AIRPORT TO CENTRAL EUROPEAN INFRASTRCUTURE TUNNELS IN AUSTRIA http://www.ft.com/intl/cms/s/0/5cc52b7a-e084-11e0-bd01-00144feabdc0.html#axzz1bRPZvCfs
CASE STUDY #5 PORTFOLIO of 3i INFRASTRUCTURE FUND http://www.3i-infrastructure.com/disclaimer.html?r=/portfolio-summary.html
CASE STUDY #6 VENTURE CAPITAL TRUSTS as a funding innovation in municipal markets http://www.ft.com/intl/cms/s/2/fea4c434-fb35-11e0-8df6-00144feab49a.html#axzz1baslVWd0
CASE STUDY #7 INDIAN INFRASTRUCTURE http://www.ft.com/intl/cms/s/0/62739a58-f58c-11e0-94b1-00144feab49a.html#axzz1bRPZvCfs
CASE STUDY #8 PERNAMBUCO (one more let's-look-at-the-map) http://www.brazilinvestmentguide.com/blog/2011/02/pernambuco-brazil’s-fastest-growing-state-real-estate-land-property/
CASE STUDIES ON NEW INFRASTRUCTURE
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Lights! Water! Motion!
STRATEGY AND BUSINESS
“The world’s urban infrastructure needs a $40 trillion makeover. Here’s how to reinvigorate our electricity, water, and transportation systems by integrating finance, governance, technology, and design”.
Booz Allen on Infrastructure – Trillions of dollars of Global Demand
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Macquarie comes to Canada to do infrastructu
re CPPIB does infrastructure CPPIB buys Auckland Airport (NEW ZEALAND)
$1.8 billion
Canadian Institutional Investors do Infrastructure exceptionally well
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www.global-infra.com CREDIT SUISSE and GENERAL ELECTRIC http://www.terra-genpower.com
http://www.gatwickairport.com http://www.chkm.com www.biffa.co.uk http://www.eastindiapetro.com http://www.i-p-h.co.ukInvestments made through IPH to date are: http://www.portbris.com.au/ http://www.itl.com.ar www.eastportuk.co.uk www.londoncityairport.com
Global Infrastructure Partners – a case study in portfolio management
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Pernambuco geography
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Roads Railways and Ports in Brazil
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http://articles.economictimes.indiatimes.com/2011-
01-28/news/28431941_1_inclusive-growth-private-sector-india-targets
India targets $1 trillion infrastructure investment: Ahluwalia
DAVOS: India will double its investments in infrastructure to $1 trillion during the 11th Five Year Plan that begins 2012, with half of that expected from the private sector, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.
Indian Infrastructure
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Financing from future revenues Railways for Africa Ports for Pernambuco Bridges everywhere
Underwater cities Megacities become Zero Waste infrastructure Incinerators, pipelines, sewage and smart
grids
The Next Suez Canal