NewsBite

Infrastructure boom

December 2024

HMC Capital’s David Di Pilla is about to complete its fourth ASX float.

DigiCo float is a ‘ticket to the dance’ for Di Pilla

The biggest IPO of the year is all about capturing the momentum around the world’s biggest investing theme: artificial intelligence. DigiCo is now in the biggest game in town.

  • James Thomson

November 2024

Victoria budget winners and losers.

Vic, NSW splurge putting Australia’s credit rating at risk: Fitch

Fitch Ratings has warned that state level deficits have risen sharply and were becoming increasingly important in its assessment of Australia’s fiscal position.

  • Gus McCubbing, Patrick Durkin and Michael Read
The Georgia World Congress Center in Atlanta.

Why are cities still spending big on convention centres?

Companies are pulling back on spending on annual conferences, and fewer people are attending them.

  • Alexander Nazaryan

October 2024

IFM Investors’ profits fell slightly last financial year but pay went up under chairwoman Cath Bowtell.

Exec pay at IFM Investors jumps 48pc despite profit fall

The infrastructure powerhouse also recorded broadly flat revenue last financial year, but its key management personnel salary bill still soared.

  • Hannah Wootton

September 2024

Robin Khuda arrived in Australia as an 18-year-old from Bangladesh, and is now at the centre of the year’s biggest deal.

‘It’s a race’: Khuda on AI, leadership and the Sydney Swans

After celebrating his $24 billion deal with a bit of rest and a footy final, the AirTrunk boss will be ready to charge into the company’s next growth phase.

  • James Thomson
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AirTrunk set all sorts of deal records when Macquarie, Blackstone and Robin Khuda finally signed the deal on Wednesday night.

Australia just had its hottest M&A week (and it’s only September)

Nearly $24 billion worth of Aussie M&A deals were announced between Monday and Thursday evening – the highest since Newmont’s $24.4 billion bid for Newcrest last year. 

  • Sarah Thompson, Kanika Sood and Emma Rapaport

July 2024

Big plans: Nik Kemp

Dexus poaches AustralianSuper’s infrastructure tsar Nik Kemp

It is the biggest hire so far by the company’s new chief executive, Ross Du Vernet, who took over the top post from long-serving Darren Steinberg this year.

  • Nick Lenaghan
Premier Jacinta Allan announcing a tunnelling contract for the Suburban Rail Loop.

Victoria’s secrecy stalls cash for Suburban Rail Loop

Victoria has failed to hand over critical information about its controversial rail loop for almost two years despite seeking $11.5 billion from taxpayers.

  • Ronald Mizen

April 2024

The expected delay to central bank rate cuts has big ramifications for some sectors that have been bid up.

Investors need to turn detective in the hunt for interest rate pain

Several sectors on the ASX have surged on the prospect of rate cuts that aren’t coming any time soon. It’s time for investors to reassess. 

  • James Thomson
Stonepeak CEO Mike Dorrell: “You’ve got to be providing an essential service.”

Meet the Aussie who built a Wall Street infrastructure giant

Stonepeak founder Mike Dorrell learnt the infrastructure game at Macquarie and Blackstone before striking out on his own. Now he’s readying for a new infrastructure boom.

  • Updated
  • James Thomson
Steve Eisman was played by Steve Carell in “The Big Short”.

‘Big Short’ hero’s new big idea is one Aussie investors can ride

Famed US investor Steve Eisman says that when things are good, markets trade on stories. But there’s one theme that stands out from the rest. 

  • James Thomson

March 2024

BlackRock CEO Larry Fink.

The shocking data that stopped Larry Fink cold

“I’ve seen a lot of numbers. But no single data point has ever concerned me more than this one,” the CEO of BlackRock says.

  • James Thomson

November 2023

Not clear what Infrastructure Minister Catherine King spared, or why.

Projects culled, but it’s the same old lack of discipline

Catherine King has cleaned up a project pile-up that took a decade to accumulate. But there is nothing in place to stop it happening again.

  • The AFR View
Adam Copp, CEO, Infrastructure Australia.

‘We can’t do it all’: Infrastructure Australia boss on major projects

The federal government’s independent infrastructure adviser has warned that there isn’t the financing or the workers to deliver the nation’s largest project.

  • Ronald Mizen

October 2023

New road, rail spending slumps as Labor tells premiers to cut back

Just eight new projects valued at $6.6 billion were added in 2022-23, a sharp decline on the 24 projects valued at $25.3 billion added the year prior.

  • Ronald Mizen
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UniSuper and HESTA were the only big super funds to have “a meaningful amount” of their total funds under management in sustainable options.

Green energy transition will need ‘mountain of regional relocation’

Worker shortages in regional areas risk delays and budget blowouts in the push to turbocharge green energy projects, according to analysis by Infrastructure Partnerships Australia.

  • Ronald Mizen

September 2023

NSW Treasurer Daniel Mookhey.

Mookhey plots NSW’s return to surplus in two years

The state’s treasurer is promising voters “immediate assistance ... with long-term reform” in the Minns government’s first budget.

  • Updated
  • Samantha Hutchinson

July 2023

TRUE Infrastructure CEO Peter McGregor and chairman Mike Fitzpatrick have seen a notable increase in appetite for green infrastructure investment.

TRUE rattles the tin for $20m as it locks down AusSuper fund stake

The specialist fund manager is seeking to fund its acquisition of AustralianSuper’s holdings in two infrastructure funds.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

June 2023

Amber Infrastructure Group APAC head Vaughan Wallace is ready to branch into New Zealand.

Amber Infrastructure Group in NZ foray for mid-market deals

UK-headquartered Amber Infrastructure Group, which has been a prolific dealmaker in Australian mid-markets deals in recent years, is ready to test its playbook across the ditch.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

February 2023

NSW Labor Leader Chris Minns and NSW Premier Dominic Perrottet ahead of their first election debate at 2GB radio in Pyrmont.

NSW election spendathon to make RBA’s job harder

An election year cash splash and $116 billion in infrastructure spending could stoke the inflation and consumer price pain the RBA is trying to avoid.

  • Samantha Hutchinson

Original URL: https://www.afr.com/topic/infrastructure-boom-1mqp