Investing in infrastructure leading practices in planning. Comparative summary the law library of congress 2 several of the countries appear to rely somewhat heavily on private roads, concessions, or privatepublic. Macquarie asia infrastructure fund 2 maif 2 mira launched its second panasia. Very few smart cities are recently established across the world. Probitas infrastructure fund list, which lists funds that are currently in the market or that plan to be in the market by october 2009, reports that t out of the top en 20 infrastructure funds intend to maintain a. An example of decreasing funding the highway trust fund was established in 1956 to fund the costs associated with the us interstate highway system.
In effect, while cityspring was the acquisition vehicle and surviving entity, in substance, kih and kifm were retained as the sponsor and trusteemanager respectively of the enlarged trust. Important dates applications for ontario research fund small infrastructure funds should be submitted. Keppel infrastructure fund management, in its capacity as trusteemanager of kit, entered into agreements to combine kit and cityspring infrastructure trust cit, and to acquire kis 51% stake in. S cotia private global infrastructure pool series f s eptember 27, 2 018 t his document contains key information you should know about scotia private global infrastructure pool the fund. C past distributions are not an indication of future. Trusteemanager of keppel infrastructure trust, 50% of keppelkbs us reit.
Keppel infrastructure trust formerly cityspring infrastructure. Alternative investment fund managers directive aifmd. Approximately 52% of its funds have been deployed as of 30 june 2017, across eight projects in various asian countries, including india and singapore. Cityspring infrastructure trust cityspring announced a oneforone rights issue on 14 august. To invest in the fund, investors will need to obtain the current product disclosure statement pds from amp capital investors limited abn 59 001 777 591. Extraordinary general meeting keppel infrastructure trust. Scotia private pools fund facts 1 832 asset management l. For most institutional investors, infrastructure investing remains in a state of flux as it shifts from being a niche sector to become a fullblown, independent asset class. Lower yield fund acquiring a higher yield fund sounds more normal since it is an accretive acquisition. Understanding the value of transport infrastructure. Index returns do not allow for taxes, management, transaction and operational costs.
For most institutional investors, infrastructure investing remains in a. The demand for infrastructure investments is likely to grow faster than output, and therefore tax revenues. Nov 18, 2014 cityspring infrastructure trust, a singapore pipedgas supplier backed by temasek holdings pte, will merge with keppel infrastructure trust to form the countrys biggest infrastructure focused. Keppel infrastructure and temasek will respectively hold approximately 22. May 18, 2015 cityspring infrastructure trust cit has completed the acquisition of all the assets and liabilities of keppel infrastructure trust kit for a consideration of 1. Combination of cityspring infrastructure trust cit and keppel infrastructure trust kit. By kelly deponte, probitas partners infrastructure investing is a relatively new sector within institutional investors portfolios and has been growing dramatically over the last five years. The issue of a 792,857,000 new units on 29 may 2015. Although liquidity has come back, the form of liquidity is. It supports personal wellbeing and economic growth.
Mobilizing private finance for sustainable infrastructure. Cityspring infrastructure management pte ltd as trustee of cityspring infrastructure trust had issued a circular dated 24 january 2008 circulafl to seek the approval of unitholders for, among other things. The following list of hard infrastructure is limited to capital assets that serve the function of conveyance or channelling of people, vehicles, fluids, energy, or information, and which take the form either of a. Cityspring infrastructure trust also trades as an adr american depository receipt under the ticker. According to these financial ratios keppel infrastructure trusts valuation is consistent with the market valuation of its sector.
The american society of civil engineers graded the nations infrastructure in 2005 and found deteriorating conditions approaching dangerous levels of. In australia, britain, canada, parts of continental europe, and, more recently, in the united states, the use of privatesector. Macquarie international infrastructure fund limited miif was a sgxst listed company established in 2005 to make investments in infrastructure businesses. The evebitda ntm ratio of keppel infrastructure trust is slightly lower than the average of its sector specialty finance. Fund total return is the fund gross return less management costs. The fund collects and disburses money for federal highway and transit projects across the country. Kit shareholders will be fuming if kit is acquiring cit and results in a drop in yield. The smart city infrastructure is the introductory step for establishing the overall smart city framework and architecture. One definition is facilities or structures required for the effective operation of a business, state or. Pension fund investment in infrastructure and global financial regulation a topic attracting attention in recent global regulatory discussions is the possibility that private pension funds invest in alternative assets, particularly infrastructure projects. Section 2 how the lazard global listed infrastructure fund works how the fund works the fund is a registered managed investment scheme in which investors pool their moneys, and this pool. David white, chair of eaif, says the fund has established itself as a market leader in infrastructure finance in africa.
According to these financial ratios keppel infrastructure. In effect, while cityspring was the acquisition vehicle and surviving entity, in substance, kih and kifm were retained. Media release keppel capital launches new infrastructure fund. Kit and its subsidiaries, if any kmc equity fund raising. Proposed combinationof cityspring infrastructure trust andkeppel infrastructure trust introduction cityspringinfrastructure management pte. Nov 14, 2014 cityspring infrastructure trust, a singapore pipedgas supplier backed by temasek holdings pte, is exploring a merger with keppel infrastructure trust, people with knowledge of the matter said. Cbf52560c39a22164825 home keppel infrastructure trust. The joint issue managersof the initial public offering and listing of netlink nbn trust were dbs bank ltd. The research committee research infrastructure and investment fund 6.
Cityspring infrastructure trust, a singapore pipedgas supplier backed by temasek holdings pte, is exploring a merger with keppel infrastructure trust, people with knowledge of the. The keppelpierfront private credit fund is jointly sponsored by pcmf and. Cityspring infrastructure trust settlement of basslink disputes. Macquarie international infrastructure fund miif leading. Cityspring said to weigh merger with keppel infrastructure. In effect, while cityspring was the acquisition vehicle. Infrastructure financing instruments and incentives.
Sponsored by kih and managed by keppel infrastructure fund management kifm. American society of civil engineers 20 via center on budget and policy priorities 2016. Of the capital raised by infrastructure funds since 2006, 48% has been by vehicles with a maturity of greater than 10 years4. A comparison between australia and canada australian and canadian pension funds have been pioneers in infrastructure investing since. Innovative financing models for energy infrastructure in. Keppel capital aims to grow aum and connect investors with highquality. The trust, partly owned by temasek holdings, will issue about 539 million new units at a price of 39 cents per rights unit. Cityspring infrastructure trust rights issue living. Infrastructure is a diverse asset class in and of itself, presenting a. In the last three years or so, while there has been a return of debt liquidity to the infrastructure market, it is nowhere near the scale or on terms of pregfc days. Acquisition funded by an equity fund raising efr the combined trust will have proforma total assets of over. Fund trustees owe their primary duties and obligations to their members, who are generally seeking steady positive returns from their fund.
Cityspring infrastructure trust settlement of basslink. Emerging africa infrastructure fund appoints investec. The trust, partly owned by temasek holdings, will issue. With effect from 21 september 2015, kit was included in the ftse st largemid cap index and ftse st mid cap. Cityspring infrastructure trust, a singapore pipedgas supplier backed by temasek holdings pte, will merge with keppel infrastructure trust to form the countrys biggest infrastructure. The ontario research fund small infrastructure helps attract, retain and develop leading researchers at publicly funded ontario research institutions through the acquisition and renewal of leadingedge technology and equipment. Keppel infrastructure trust, formerly known as cityspring infrastructure trust, a business trust constituted in the republic of singapore and registered with mas kit group. Cityspring, keppel infrastructure to merge business trusts. Transport infrastructure is a critical ingredient in economic development at all levels of income. It will also market the fund internationally and monitor the loan portfolio. Pwc awm insights infrastructure funds riding southeast asias automotive highway strategies to steer through southeast asias promising automotive market an overview of the automotive industry in. Cityspring infrastructure trust low risk with a 7% yield.
Though a few of the largest and most sophisticated investors have devoted the necessary resources to develop. Infrastructure continues to be an attractive asset class for pension funds, who seek to match the longterm yield profile of infrastructure investments against their own, longterm, liabilities. Cityspring infrastructure trust business trust registration no. May 21, 2014 cityspring infrastructure trust also trades as an adr american depository receipt under the ticker. The debate over prvi ate infrastructure fni ancni g in the. In the last three years or so, while there has been a return of debt liquidity to the. Infrastructure final ch, uk, lux, italy, scandinavia 2. New africa infrastructure fund launched by sanlam and infrasec. Cityspring infrastructure trust fully acquires keppel. The fund targets a net internal rate of return irr of 1416%, with an average annual yield target of 57%. Keppel merlimau cogen pte ltd, which owns a 1,300 mw cogeneration plant in singapore. The american society of civil engineers graded the nations infrastructure in 2005 and found deteriorating conditions approaching dangerous levels of disrepair, with needs outpacing allocated funds. Pension fund investment in infrastructure and global. Keppel infrastructure trust kit or trust, formerly known as kgreen trust, is a business trust constituted on 23 july 2009 under the laws of singapore, and managed by keppel infrastructure fund management pte.
Cityspring is temaseks main vehicle for infrastructure investments, and the trusts attractive dividend yield and acquisition potential prompted inflows that drove its shares as much as 70%. Transport infrastructure plays a role as a capital. Mercer global listed infrastructure fund management style weight beta strategy 35. Creating the largest singapore infrastructurefocused. As such, funds will naturally prefer to limit their downside risks. This report covers the period from 12 february 2007 the date of our listing on the main board of singapore exchange securities trading limited to 31 march 2008. Amp capital funds management limited abn 15 159 557 721, afsl 426455 ampcfm is the responsible entity of the amp capital core infrastructure fund and the issuer of the units in the fund. We have focused on a selection of the external factors, which should be at the forefront of any gp or lps mind, both when launching a new fund or when revisiting existing funds before asset disposals. Keppel capital launches new infrastructure fund and achieves first closing.
It is not exactly a household name in the investment world. Cityspring infrastructure management pte ltd as trustee of cityspring infrastructure trust had issued a circular dated 24 january 2008 circulafl to seek the approval of unitholders for, among other things, the ratification of the acquisition of basslink and the issue of new units pursuant to an equity fund raising to be undertaken by cityspring. For any of the purposes of the departmental riif fund, where departmental riif or other funding is otherwise not available adjudged by the research and innovation, including. Singapore, 29 january 2020 keppel capital holdings pte.
Bp prudhoe bay royalty trust website gallery thanks for everyone contributing to bank tax td canada see why tax td canada 2011 will be trending in 2016 as well as 2015 color photo with td canada 2011. In the past major works, such as dams and water transfer. A specific investment approach geared towards longterm essential assets the infrastructure investor community brings a longterm mindset towards asset ownership. Americas infrastructure is aging and needs rehabilitation. Delivering growth value keppel infrastructure trust. Annual report 2011 home keppel infrastructure trust. Investing in infrastructure funds probitas partners. Infrastructure financing will need to come increasingly from the private sector. The fund is to be channelled into infrastructure projects on the african continent with an emphasis on economic growth, social upliftment and energy. Infrastructure fund will ensure nsw has a network of spaces and places that enable quality sport and active recreation participation, and performance at all levels.