Infrastructure and utilities.

A leader in project finance, infrastructure and utility investing, with an investment portfolio spread across a variety of asset types.

Characteristics.

Infrastructure and utilities financing provides unsecured and secured debt for various types of projects, including, but not limited to:

  • Power generation and transmission
  • Oil and gas transmission and storage
  • Government facilities and military housing
  • Stadiums and arenas
  • Roads, bridges, tunnels
  • Railways and rail terminals
  • Airports, seaports, and marine terminals
  • Water and waste water systems
  • Regulated electric and gas utilities

For project financings we typically invest in investment grade transactions. For those issued as traditional private placements, we typically require one rating (either private or public), and there is no requirement that the bonds be registered or that the documentation be publicly disclosed. Other benefits of issuing a traditional private placement include efficient execution, small club investor group, and lower up-front costs versus public bonds and bank debt.

Transaction structure.
  • Size: Typical investment from $30 million to $200 million
  • Maturity: 5 to 30 years, providing longer maturities than traditional bank financing
  • Repayments: Individually tailored to meet the project’s needs, including bullet maturities or customized amortizations
  • Documentation: Similar to bank lender documentation requirements
  • Currency: Predominantly USD with ability to provide select foreign currencies (€, £, CAD and AUD)

Note: Transaction characteristics and structure may vary.