Monday, 27 February 2017
AMP Capital has published a paper entitled “Not just a bond proxy”, which defends the performance of infrastructure funds at a time of rising yields. In the second half of last year global equities rose 7.7% while listed infrastructure funds dropped 4%. AMP said after times of previous rising yields infra funds regained ground on general equities. AMP said if inflation expectations diminished, infra funds would outperform; under reflation equities would initially outperform; and under a normalisation scenario with healthy growth and inflation, equities would outperform.
Distressed debt investors are adding a twist to the saga of the Radiales toll roads. New battles over the motorways’ rescue are about to be waged in court. By Stefano Berra.
Favourable hedge arrangements are becoming more important for merchant and quasi-merchant power projects. For natural gas US IPPs, there are a few hedging options. By Nic Stone.
The US higher education sector is currently experiencing some of the most significant and compounding challenges relative to almost any other industry. By Geoff Eisenacher, vice-president of Partnership Development at Corvias.
Welcome to the 2017 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2016, through case studies and the PFI Awards, and look forward into 2017 with interviews and articles in the Global section of the book.
The three largest insurance groups in Germany are emerging as dominant institutional investors in the European infrastructure debt market. By Stefano Berra.This market now encompasses the full range of players in the global capital markets – from private equity to large scale pension and insurance funds and sovereign wealth funds on the equity side onto institutional debt providers, investment banks and commercial banks on the debt side.
When construction goes wrong, hindsight is a beautiful thing. For clients, the PPP/P3 contractual model was supposed to take all the construction hassle away via turnkey procurement. But clients can still face problems – whether they choose to interfere in the contract or not.
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The 2016 Project Finance International Europe, Middle East & Africa (EMEA) Report provides a range of case studies from the region plus a look at key themes in the market such as the evolving structure of power purchase agreements and new credit enhancement products.