CALIFORNIA AND P3s. HIGH SPEED RAIL AND LONG BEACH COURTHOUSE

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I hope summer is treating you well and if possible, I hope you guys can take some days off for vacation.Today, I bring you a very special combination of high speed rail (CAHSR) +pension fund (CALPERS) +infrastructure fund (Meridiam) +social P3 project (Long Beach Courthouse)-- all in California.California high speed rail. Video interviewThe US is set to embark on a major rollout of its high speed rail network as President Obama backs the call for a national HSR network to serve major towns and cities across the country. TFI-News interviewed Judge Kopp, Chairman of the California High Speed Rail Authority, in Los Angeles to get the latest news on California's plans to develop HSR and the timetable for procurement.CALPERS investing directly into infrastructure assets, but just brownfield projects?Talking about private interest to invest in California high speed rail, Quentin Kopp named Goldman Sachs and Carlyle group, but what about local pension funds? As we have already said several times pension funds are the most suitable institutional investors to invest in infrastructure assets. Last week CALPERS, the California Public Employees' Retirement System, committed up to £106 million to acquire a 12.7 percent equity interest in London Gatwick Airport from Global Infrastructure Partners (GIP).The CalPERS acquisition is the first direct-style investment within its infrastructure program, which CalPERS launched in 2007 with a policy allocation of 1.5 percent of the Pension Fund's total market assets. In case that CALPERS accepts investing directly into greenfield projects, it could be one of the main players in the P· program for the high speed rail.Long beach courthouse. First social P3 project in CaliforniaCalifornia's Administrative Office of the Courts (AOC) selected the Long Beach Judicial Partners (LBJP) consortium to design, build, finance, maintain and operate the new P3 courthouse in Long Beach.The Long Beach Judicial Partners consortium comprises the following companies:- Meridiam Infrastructure;- AECOM;- Clark Construction Group LLC;- Edgemoor Real Estate Services;- Johnson Controls.Meridiam, an infrastructure fund sponsored by Credit Agricole and AECOM has become the most active and succesful player in the P3 industry in the US and Canada.The LBJP consortium beat competition from the Lankford-Phelps Long Beach Developers consortium comprising HOK, Hensel Phelps, Piper Jaffray and Grubb & Ellis and the Balfour Beatty Capital consortium comprising Perkins & Will, Barnhart-Heery, Goldman Sachs and Linc FacilitiesBy the way, Meridiam is looking for a Chief Financial Officer for this project that will involve a private sector team coordinated by Meridiam to finance, design, build, operate and maintain the new Long Beach court building over 35 years.See more here.Don't forget to visit the INFRASTRUCTURE/PPP REPORTS DATABASE and the PPP BOOKSTORE.Check out our advertising options. And visit InfraK, the best FREE infrastructure online resource.Cheers

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