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Gulf Sovereign Wealth Funds Bid For Queensland Motorways

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The Queensland Investment Corporation (QIC) is looking to sell the toll road company Queensland Motorways Ltd. With the thirst for Australian transportation infrastructure from institutional investors, QIC is seeking to dispose the highly-regulated motorways to the highest bidder.

The government of Queensland transferred the Queensland Motorways to the QIC in 2011 – being valued at A$ 3.088 billion. The motorways had A$ 2.9 billion of debt before the asset transfer. Some policymakers were surprised at the time, many believed the motorways would be sold off immediately. The justification in 2010 was that the government wanted legislative protections to make certain the tolls would not increase more than the consumer price index.

The motorways are a 43 mile network, counting around 80 million vehicles per annum.

Currently, three groups of investors are bidding for Queensland Motorways. Analysts say bids will be around A$ 5 billion.

Three Investment Consortia
Group 1
Hastings Funds Management
Kuwait Investment Authority
Abertis Infraestructuras
APG

Group 2
Transurban Group
Abu Dhabi Investment Authority
AustralianSuper

Group 3
IFM Investors (owned by 30 superannnuation funds)
Ontario Teachers’ Pension Plan
Borealis Infrastructure

Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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