A consortium led by Spanish infrastructure company Abertis has been named the winning bidder in the largest U.S. toll road deal in history. Citigroup is part of the consortium, which has offered $12.8 billion to lease the Pennsylvania Turnpike for 75 years. Although the Pennsylvania state legislature has yet to approve the deal, Abertis says [...]
The U.S. has at least a $170 billion annual funding gap in addition to its outmoded land use and infrastructure models, according to a report by the Urban Land Institute and Ernst & Young. The nation’s 54,000 drinking water systems also face an annual shortfall of at least $11 billion to replace aging facilities over [...]
In Michigan, plans to expand and improve I-94 through Jackson County are reportedly expensive and long overdue, according to the Jackson Citizen Patriot. In Pennsylvania, a three-mile stretch of I-95 was recently shut down, backing up traffic for miles, according to Fox News. The reason for the delays: emergency repairs on a 6-foot crack in [...]
Industry experts see no shortage of restructuring work on the horizon. The Federal Reserve says the percentage of banks reporting tighter lending standards is near historic highs for nearly all loan categories. Now, as credit conditions tighten, corporate insolvencies and workouts are expected to increase. The nation’s leading experts anticipate a “big spike” in corporate [...]
The nation’s 54,000 drinking water systems face staggering infrastructure funding needs over the next 20 years, according to the American Society of Civil Engineers (ASCE). The group also says that although America spends billions on infrastructure each year, drinking water faces an annual shortfall of at least $11 billion to replace aging facilities that are [...]
Foreign investment banks are pushing to expand their operations in China. Since China opened its banking sector to foreign banks back in 2006, overseas lenders have jumped in to compete with domestic banks for the high-end consumer banking business. By 2010, foreign bank assets are predicted to double, totaling more than $100 billion, according to [...]
Regardless of who is sitting in the oval office next year, the federal government is likely going to be forced to spend billions to rebuild and improve the nation’s decaying infrastructure. In fact, the American Society of Civil Engineers forecasts that $1.6 trillion needs to be invested in U.S. infrastructure over the next five years. [...]
Investment in America’s infrastructure is a hot topic in Washington and on Wall Street. Politicians and investors alike are feverishly pushing for new methods in which the federal government can finance infrastructure more effectively, with a combination of public and private capital. Already, investors around the world are seeking out opportunities in infrastructure. As a [...]
Firms are bolstering their ranks, betting on growth in Latin America. The commodity boom in the region is driving investment opportunities from private equity to infrastructure. Brazil’s currency, the real, recently hit a nine-year high, climbing 0.3% to 1.6577 per dollar, according to Bloomberg. The Colombian peso has jumped more than 17% over the last [...]
Citigroup is reportedly joining a growing number of firms looking to capitalize on the vital need for infrastructure investment. The bank, which is targeting utility and airport assets, is seeking as much as $5 billion for its first infrastructure fund, according to Bloomberg. Back in May 2007, Citigroup Alternative Investments announced the creation of a new [...]
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