Tuesday, 6th August 2019
Registration and refreshments
Opening remarks and market overview
Kate Burgess, Australia Editor - Infrastructure and Energy, INFRAMATION GROUP
Cyril Cabanes, Managing Director, Infrastructure Investments, Asia Pacific, CDPQ SINGAPORE
Going global: Accessing the worlds’ next phase of infrastructure
Looking outbound for investment is more important than ever, now that the pool of headline opportunities domestically fuelled by years of privatisation has dried up. As the volume of capital and number of investors looking for deals increases, having a strong network of local influencers and the ability to access opportunities is paramount. In this session, a group of global infrastructure investors will share the type of assets and markets that have their focus for deploying capital.
- How do you select partners to assist with deal sourcing, completion, and management?
- What risks should Australian GPs consider when going offshore?
- Where does Asia figure, and are India and China now considered key destinations?
- What type of projects are GPs in Europe and North America focusing on?
Moderated by: Adam Stapledon, Partner, ALLEN & OVERY
Phil Baker, Executive Adviser, GHD ADVISORY
James Fraser-Smith, Head of Unlisted Infrastructure and Timberland, FUTURE FUND
Marie Lam-Frendo, CEO, GLOBAL INFRASTRUCTURE HUB
Michael Landman, Executive Director, Portfolio Management – Infrastructure, IFM INVESTORS
Kirsten Whitehead, Head of Portfolio Management, QIC
Networking coffee break
Infrastructure Australia: Seizing the initiative
New construction projects across transport, energy, and increasingly, social infrastructure, look set to dominate the Australasian scene—especially now that the six years of big government privatisations has come to an end. Fund managers, therefore, are looking at greenfield projects and dealing with a range of challenges such as the risk of overruns, resourcing issues, and the cost of capital. In this session a panel of experienced domestic players will debate the outlook for Australia against a backdrop of political change and an evolving deal market, as well as how to invest with conviction, while finding avenues to deploy large amounts of capital.
- What greenfield deals are in the pipeline, and how will these be funded?
- How have new regulations on foreign players effected the market?
- What will be the state and federal government’s stance on infrastructure, post-elections?
- How are domestic GPs developing teams offshore to capture the global opportunity?
Moderated by: Shaun Drummond, Senior Reporter, INFRAMATION GROUP
Damien Augustinus, Managing Director, PLENARY GROUP
Sammy Isreb, Division Director, MACQUARIE CAPITAL
Robert Ritchie, Managing Director, INFRASTRUCTURE AND PROJECT FINANCING AGENCY (IPFA)
Vaughan Wallace, Head of Origination, CAPELLA CAPITAL
Renewables: Cracking the energy code of the future
Renewable energy continues to be a mainstay for advisers and investors, with a dearth of big M&A opportunities, as developers prepare deals with multiple renewable projects that are already built and financed, as well as a pipeline of further deals to sell to big investors. However, there are still a range of issues regarding the future of Australia’s energy market, as pricing, grid connectivity, storage, and the disruptive nature of the technology elevates the risk of investing. In this session, a panel of experts will debate the issues facing the energy market, the deal horizon for renewables, and their approach for cutting through the hype to deliver returns.
- What are the latest deals in renewables, and how are they being structured and financed?
- What impact will the NEG regulation have on the market?
- How are investors approaching large-scale batteries and pumped hydro, given the uncertainty around the revenue mode?
- Is there a risk of market saturation due to the high volume of projects?
Moderated by: Robert Clow, Asia-Pacific Editor, SPARKSPREAD
Alistair Craib, Partner, IRONSTONE CAPITAL
Benjamin Haan, Partner and Head of Private Infrastructure Asia, PARTNERS GROUP
Julia Hinwood, Infrastructure and Resources Lead and Director, Corporate and Project Finance, CLEAN ENERGY FINANCE CORPORATION
Sam Reynolds, Managing Director, OCTOPUS INVESTMENTS
Gordon Wymer, Chief Commercial Officer, SNOWY HYDRO
Alex Wonhas, Chief System Design and Engineering Officer, AEMO
Infrastructure 2.0: Flexing the definition
Land title concessions, data centres, digital infrastructure, hospitals, prisons, and student accommodation—the hybrid infrastructure model is testing the nerve of investors, as well as their risk appetite. The consensus seems to be that if the GP has the experience and expertise, then their backers are comfortable with them finding growth in this capacity and expanding the scope, but where is the breaking point? In this session a panel of investors will debate the blended private equity and infrastructure model, the pros and cons, and the return expectations.
- What type of investments are now delivering growth for infrastructure investors?
- How is the need for value creation being managed with assets that require a hands-on operational approach?
- What return expectations are LPs expecting from these types of assets?
- How has the pool of investable companies evolved, and what does this mean for the traditional infrastructure model?
Moderated by: Adam Charles, Partner, HERBERT SMITH FREEHILLS
Michael Bessell, Partner, Global Infrastructure Equity, AMP CAPITAL
Paul Foster, Managing Director, PACIFIC EQUITY PARTNERS
Vicki Rigg, Executive Director, PALISADE INVESTMENT PARTNERS
William Smales, Head of Private Markets, H.R.L. MORRISON & CO.
Betting on Asia: Accessing regional infrastructure the right way
Governments across Asia have made infrastructure development a key priority. Estimates are that the region requires AU$53 trillion between now and 2040 in funding for a diverse checklist of projects, including roads, water treatment and distribution facilities, telecommunications networks, energy generation plants, air and sea networks, and mining operations. Asia does come with a higher risk premium, although there is a view that several locations have become more investable in recent years as macro-risks stabilise, so where are the key investment destinations? Furthermore, how can both Australian fund managers and LPs access the opportunities and diversify?
- Do foreign investors need to form relationships with local partners and in what markets is this especially key for gaining access to the best opportunities?
- Where is the most promise for infrastructure investments – the Philippines, Indonesia, Thailand, India, or Vietnam?
- Which countries have made the most progress in establishing an effective institutional framework to attract private sector participation?
- How have Australian investors approached deal making in the region?
- How can foreign capital access China and which sectors are attracting the most investment?
Moderated by: Robin Ganguly, Deputy Editor APAC, INFRAMATION GROUP
Harsh Agrawal, Managing Director and Co-Head Asia, I SQUARED CAPITAL
Daniel Hu, Managing Director, Overseas Infrastructure Investments, CHINA EVERBRIGHT LIMITED
Thomas J. Jacobs, Country Manager, Pacific, IFC
David Lloyd, Senior Investment Executive, Private Sector Operations Department, ASIAN DEVELOPMENT BANK
Networking coffee break
Danny Price, Founder and Managing Director, FRONTIER ECONOMICS
The LP view: Getting what you want from infrastructure
Numerous considerations influence how Australian institutional investors approach investing in infrastructure, including size, mandate, risk appetite, internal resources, and liabilities. Some LPs have internal teams overseeing diversified, global allocations that feature brand name fund investments, co-investment, and direct strategies, while others have relatively small mandates to external advisors. All must devise an approach that fits their needs and communicate the value to trustees. In this session a group of seasoned LPs share their experiences.
- How are GPs differentiating themselves to LPs?
- Is scope creep a big issue for LPs, and how is this being communicated?
- What is the current geographic split for investments?
- What models are LPs using for sourcing partners for deals?
Moderated by: Jessica Choong, Partner, ALLENS
Diana Callebaut, Head of Infrastructure, CBUS SUPERANNUATION
Alexandra Campbell, Senior Investment Director - Infrastructure, AUSTRALIANSUPER
Mark Hector, Portfolio Manager, Infrastructure, FIRST STATE SUPER
Jordan Kraiten, Head of Infrastructure, HOSTPLUS
Jean-Étienne Leroux, Managing Director, Infrastructure Investments, CDPQ
Close of conference & cocktail reception