The Virginia Department of Transportation has issued a request for detailed proposals for the Route 460 highway extension, which has attracted interest from Cintra, Kiewit, Skanska and other groups. Virginia hopes to sign a contract for the project by next May.
2 min read · 15 January 2013
A law passed in June would allow the $65bn pension system to raise its allocation to private equity, to the chagrin of some lawmakers who don’t like the asset class.
2 min read · 15 January 2013
The EIB hopes that its project bond initiative will help it gracefully step back from the prominent lending role it has assumed following the global financial crisis. But the new initiative may originate another cycle of EIB-dependence.
3 min read · 15 January 2013
A consortium comprised of Macquarie Group and Swedish developer Skanska has agreed to contribute $318m in equity toward Virginia’s Midtown Tunnel project. The contract will have a 58-year term beginning at financial close, which is expected to occur by the end of the year.
2 min read · 15 January 2013
Despite the ‘sputtering economy’, the firm’s earnings in real estate rose in the second quarter, driven by increases in underlying investments and performance fees.
3 min read · 15 January 2013
More limited partners want to form ‘strategic relationships’ that are long-term and involve exposure to multiple strategies, co-founder Steve Schwarzman said during an earnings call this week.
3 min read · 15 January 2013
Having used several Private Finance Initiative (PFI) schemes as test cases, the UK’s Treasury now believes it can achieve £1.5bn of savings from the 495 PFI projects operational in England. The government has been fiercely critical of the costs of such schemes.
2 min read · 15 January 2013
The tie-up between the real estate investment arm of insurance giant Prudential Financial and Paris-based developer Groupe Hoche forms part of its strategy of partnering local operators in markets it believes offer value creation.
2 min read · 15 January 2013
Claudio Phillips has joined MB Global Partners as a managing principal in New York.
1 min read · 15 January 2013
In a rare in-depth interview, KKR co-founder George Roberts discusses both the firm’s and private equity’s ongoing evolution as they move past credit crisis ‘hiccups’ and closer to maturity.
10 min read · 15 January 2013
