North American Infrastructure Deals

by Louise Taggart

  • 05 Oct 2010
  • INF

Preqin data indicates that there have been 125 deals completed by unlisted infrastructure fund managers in 2010 to date, 26 (21%) of which in assets located in North America. Of these 26 completed deals, 23 assets are based in the US, while three involved assets based in Canada.

In terms of industry, the deals completed in North America thus far in 2010 span 13 separate industry sectors including energy, renewable energy, utilities and transportation.  Power plants represent the most popular sector with six deals completed, while four deals have also been finalized involving natural resources pipelines and three in power distribution assets.  Two deals have been made in both natural resources storage facilities and in solar power.

A number of North American deals have been made recently.  In September 2010, JP Morgan Infrastructure Investments Fund and LAZ Parking led a successful USD 413 million bid for the Pittsburgh Parking Meter and Garages lease. The deal involves the 50-year lease agreement for the City of Pittsburgh’s parking meter and garage business. Other recent infrastructure deals in North America include ArcLight Energy Partners Fund IV’s acquisition of the Sandersville Power Plant from KGen Power Corporation for USD 130 million in July 2010. The deal involved USD 98 million of transactional debt, provided by GE Energy Financial Services and Siemens Financial Services.

Investment in North American infrastructure looks set to increase in the coming months, particularly in light of the recent final closes held by Antin Infrastructure Fund and Brookfield Americas Infrastructure Fund on USD 1.1 billion and USD 2.7 billion respectively. Both of these funds intend to invest in economic sectors across North America.

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