Resources
Corporate finance
● Infrastructure assets: an in-depth look at a type of investing pioneered in Australia and Canada and now becoming popular worldwide
● Debating point: Jay Collins of Citigroup says infrastructure investors will be attracted only by a clear policy framework and will pick their battles carefully
● Sector focus: Andrew Jack looks at the movers and shakers in a sector where mega-mergers have given way to smaller transactions - -
Content
There is light at the end of the tunnel
Infrastructure assets are creating a new breed of specialist investors, and competition is mounting
Briefing notes on how infrastructure finance works
For investors in infrastructure discounted cash flow counts for much more than share prices
Challenges and opportunities in world’s hottest market
Regional energy companies are investing heavily and cash-rich Gulf states are eager to diversify, but pricing on deals can be extremely tight
Stable cashflow is the key requirement
Infrastructure assets are differentiated by their financial rather than physical attributes, as these case studies show
High-stakes game for many players
Almost every big investment bank has raised an infrastructure fund
Viewpoint: nothing wrong with ‘dull but reliable’ in this market
Infrastructure investors want executives to stick to their knitting and pay a decent return
Debating point: policy challenges for governments
Infrastructure investors will be attracted only by a clear policy framework and will pick their battles carefully
Pharamaceutical sector: modest replaces mega
Big cross-border deals have abated but smaller transactions have been on the rise as mid-sized, family-owned companies consolidate
Dispatch from Milan: Locusts and local politics
Several private placements have been derailed by political and legal opposition, creating uncertainty for foreign bidders
Facts and figures: London calling the shots in listings market
So far this year the NYSE and Nadaq have been eclipsed
