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Due to the maturity of the UK PPP market, recycling equity and investing in PPP/PFI is becoming increasingly attractive. The growth of this secondary market and refinancing is producing many opportunities and a range of new investors including pension funds, insurance funds and private equity houses are now investing in PPP/PFI.

This event will examine the latest developments and opportunities in the secondary market and will address the complex operational and financial issues this dynamic market is creating.

Programme highlights:

  • The latest developments in the secondary markets and areas for future growth
  • Post acquisition issues – dealing with problem assets, refinancing
  • Buying and selling equity – key criteria for selection of potential disposals, downsides of a disposal
  • Securitisation of project debt – options and limitations
  • The European market – secondary market developments

Including valuable contributions from:

Andrew Rose, Board Director, Partnerships UK

Robin Herzberg, Managing Director, Carillion Private Finance

Andrew Bride, Managing Director, DEPFA Bank

Gary Neville, Director, Secondary Markets, John Laing

Alan Ritchie, Finance Director, Infrastructure Investors

Robert Rees, Partner, SMIF

Julia Prescot, Senior Investment Director, Meridiam Infrastructure

Joe Capra, Partner, Newport Partners (Advisor to Light House Infrastructure Fund)

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Martin McCann

Martin McCann, Partner, Norton Rose

9:10 SECONDARY MARKET- VALUE AND LIQUIDITY

Robert Rees

Robert Rees, Partner, Secondary Market Infrastructure Fund

  • Factors behind the growth in liquidity of the secondary market
  • Current valuation in the secondary market
  • Risks to value
  • Areas for future growth
  • 9:50 POST ACQUISITION ISSUES

  • Management process
  • Dealing with problem assets
  • Refinancing
  • Michael Ryan

    Michael Ryan, Managing Director, Infrastructure Investors (ii2)

    Alan Ritchie

    Alan Ritchie, Finance Director, Infrastructure Investors (ii2)

    10:30 Morning Coffee

    11:00 COMPETITION IN THE PFI SECONDARY MARKET

    Gary Neville

    Gary Neville, Director, Secondary Markets, John Laing

    11:40 BUYING AND SELLING EQUITY

    Robin Herzberg

    Robin Herzberg, Managing Director, Carillion Private Finance

  • Barriers to disposal
  • Key criteria for selection of potential disposals
  • Protecting value
  • Due diligence
  • Downsides of a disposal
  • 12:20 Networking Lunch

    13:50 KEY FEATURES OF THE SECONDARY MARKET

    Andrew Rose

    Andrew Rose, Board Director, Partnerships UK

  • Importance of enhanced liquidity
  • Ongoing need for transparency
  • Impact on primary returns
  • Long term partnership
  • 14:30 SECURITISATION OF PROJECT DEBT

    Darryl  D'Souza

    Darryl D'Souza, Associate Director, DEPFA Bank

  • Market experience
  • What makes an effective transaction?
  • Portfolio structures
  • Options and limitations
  • 15:10 Afternoon Tea

    15:40 THE EUROPEAN MARKET FOR PRIVATISATIONS AND THE POTENTIAL FOR A SECONDARY MARKET

    Julia Prescot

    Julia Prescot, Senior Investment Director, Meridiam Infrastructure

  • Economic infrastructure - transport privatisations: is that all there is?

  • One offs or growing themes: where to next?
  • Returns: comparisons with the UK
  • Social infrastructure PPPs: volume and the secondary market
  • Different approaches: bundling/corporatizing
  • Risk profiles
  • Accessibility
  • 16:20 PRIMARY AND SECONDARY PPP OPPORTUNITIES IN ITALY

    Joe Capra

    Joe Capra, Director, Newport Partners

  • Current market size
  • Active segments
  • Recent deals
  • Conclusions
  • 17:00 Chairman’s Closing Remarks and Close of Conference

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    Workshops

    Delivering Optimal Returns
    Workshop

    Delivering Optimal Returns

    The Grange Holborn Hotel
    16th November 2006
    London, United Kingdom

    Delivering Optimal Returns
    Workshop

    Delivering Optimal Returns

    The Grange Holborn Hotel
    16th November 2006
    London, United Kingdom

    The Grange Holborn Hotel

    50-60 Southampton Row
    London WC1B 4AR
    United Kingdom

    The Grange Holborn Hotel

    HOTEL BOOKING FORM

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    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

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    ‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

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