Competition and co-operation between private equity sponsors and infrastructure funds is leading to convergence of tactics -- and innovation. David Higgins and Adrian Maguire argue these bidders will continue to lead the market on cutting-edge acquisitions

UK (Legal Week) - On 26 June, the Ferrovial-led consortium announced that its offer for BAA had become wholly unconditional, thereby signalling the end of the prolonged battle for BAA between Ferrovial and a rival consortium led by the Goldman Sachs Infrastructure Fund. Four days later, Macquarie announced to the market that it no longer had any intention of making an offer for Associated British Ports, handing almost certain victory to the Goldman Sachs Infrastructure Fund consortium.

Both of these high-profile takeovers, together with other recent deals, have provided concrete examples of much-touted convergence in the private equity/infra-structure arena in relation to both funding and transaction...

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Posted by rjorr at July 19, 2006 10:06 AM