Global Infrastructure Management LLC

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< Credit Suisse Group AG < Global Infrastructure Management LLC

Global Infrastructure Partners is an American infrastructure fund manager operating in the energy, transport and water/waste sectors, and headquartered in New York City. Global Infrastructure Partners is Credit Suisse's private-equity arm, which runs the largest fund, backed by founding investors Credit Suisse and America's General Electric, which each put in $500m. ref
GIP Credit, GIP's credit arm, targets energy, transport, water and waste and other infrastructure-like industries. It provides financing for greenfield and brownfield projects, acquisition finance, liquidity and growth, restructuring and secondary purchases.

Company

Ownership

ToDo:

Structure

  • Global Infrastructure Management Participation LLC, OC, reg. Delaware Flag-Delaware.svg
    • Global Infrastructure Management LLC, OC, reg. Delaware Flag-Delaware.svg
      • GIM UK Holdings LLC, OC, reg. Delaware Flag-Delaware.svg
        • 88%, Global Infrastructure Management LLP, CH

Edinburgh Airport

Consortium: Dec.2017 a/cs, p.10
  • 80.90% Flag-USA.svg Global Infrastructure Partners LP, fund managed by Global Infrastructure Management LLC
  •   9.55% Flag-Australia.svg Future Fund Board of Guardians, Australia's sovereign wealth fund
  •   9.55% Flag-Australia.svg QSuper Investment Holdings Pty Ltd, as trustee for QSuper European Infrastructure Trust

  • Green Luxco 1 Sarl, ultimate parent, OC, reg. Luxembourg Flag-Luxembourg.svg
    • Green Topco Ltd, [OC], reg. Cayman Islands Flag-Cayman-Islands.svg
      • Green Midco Ltd, holdco, CH
        • Crosswind Developments Ltd, property development, reg. Jul.2017, CH
        • Green Bidco Ltd, holdco, CH
          • Edinburgh Airport Ltd, operator of Edinburgh Airport, CH

Gatwick Airport

Consortium: Mar.2018 a/cs, p.34

  • Ivy Guernsey Holdings LP, OC, reg Guernsey Flag-Guernsey.svg
    • Ivy Topco Ltd, [OC], reg. Cayman Islands Flag-Cayman-Islands.svg
      • Ivy Midco Ltd, CH
        • Ivy Holdco Ltd, holdco, CH
          • Gatwick Airport Ltd, CH
            • Gatwick Funding Ltd, raises finance OC, reg. Jersey Flag-Jersey.svg
            • Ivy Bidco Ltd, CH
              • Gatwick Airport Pension Trustees Ltd, trustee for the Gatwick Airport Pension Plan, CH

Timeline

Dec.2018Gatwick Airport: it was announced that France's Vinci Airports was taking a controlling 50.01% stake in Gatwick.[1]
Feb.2016 London City Airport: GIP and Oaktree sold their interests in London City Airport to a consortium of Alberta Investment Management Corporation, OMERS, Ontario Teachers' Pension Plan and Wren House Infrastructure Management Ltd (the infrastructure investing arm of the Kuwait Investment Authority).ref,ref
Dec.2015 Great Yarmouth Port Company: GIP sold its interest in the company to Peel Ports Group Ltd.ref Deutsche Asset & Wealth Management's infrastructure arm owns a 41.6% stake in Peel Ports Group, and manages a further 8.3% stake on behalf of an institutional investor.ref CH, link
Apr.2012 Edinburgh Airport Ltd: a GIP-led consortium acquired the airport from BAA. The sale was forced by the Competition Commission's ruling in 2009.ref
Nov.2012 Biffa Group Ltd: GIP exited its investment through a "business restructuring process". In pof, the company was taken over by its debtors, Angelo Gordon & Co, Avenue Capital Group, Babson Capital Europe Ltd and Bain Capital LP § Sankaty Advisors).ref
Dec.2009 Gatwick Airport Ltd: a GIP-led consortium acquired Gatwick Airport from BAA (owned by Ferrovial). The Competition Commission had ordered BAA to sell Gatwick, Stansted, and either Glasgow or Edinburgh airports.ref
Apr.2008 Biffa Group Ltd: GIP, in partnership with Montagu Private Equity Ltd and HBOS Fund Investments, acquired Biffa and took it private.ref,ref GIP made a follow-on investment in 2010.
May.2007 Great Yarmouth Port Company: GIP acquired 100% of International Port Holdings (Jersey) Ltd, the port development company that is building a new harbour and related infrastructure at Great Yarmouth — and whose parent is Guernsey-registered.ref
Money-subsidy.svg
IPH signed an agreement with the Great Yarmouth Port Authority under which it will acquire a 99-year leasehold interest in the existing port assets in exchange for a commitment to invest in an outer harbour sea port expansion. The Yarmouth project has been criticised heavily because £18m of public funding is going towards the new outer harbour.ref,ref
Aug.2006 London City Airport: GIP acquired a controlling 75% interest from Irish businessman Dermot Desmond. Oaktree Capital, another US fund, has a 25% stake. ref

Articles

  • Dec.27.2018: Gatwick airport: majority stake sold to French group. New owner says Brexit threat helped Vinci get 50.01% stake in UK’s second-busiest airport for ‘reasonable’ £2.9bn. A consortium led by the US investment fund Global Infrastructure Partners (GIP) is selling a majority stake of 50.01% in the airport to Vinci Airports, one of the world’s top airport operators and part of the infrastructure group Vinci. Vinci and GIP will manage Gatwick together. Gatwick will be the largest in Vinci’s portfolio of 46 airports spread across 12 countries. Julia Kollewe, The Guardian.

References

  1. ^ Gatwick airport: majority stake sold to French group. Julia Kollewe, The Guardian, Dec.27.2018.