Castalia Capital Advisory Catalysts for investment success

Transcription

1 Castalia Capital Advisory Catalysts for investment success

2 Mission Castalia s independent risk assessment expertise in the transport, water, telecom and energy sectors assists industry leaders with identifying lucrative deals, making sound financial decisions and managing risk.

3 Who We Are Castalia is an independent, international economic and financial advisory firm with broad experience in transport, energy, telecoms and water Our mobile team of 40 professionals is based out of our offices in Washington, D.C., Sydney (Australia), Wellington (New Zealand), Paris (France), and Bogotá (Colombia) Castalia s mission is to apply our real world, practical, markettested knowledge of project risk and return in the context of competitive, regulatory, cost, and demand drivers We are a global firm with local presence and knowledge. We offer unbiased, objective advice without the influence of outside shareholders or interests. 3

4 Castalia Track Record Advised on privately financed infrastructure projects worldwide totaling more than US$70 billion across the transport, energy, and water sectors Advised on assignments in more than 60 countries in the Americas, Africa, Asia, Europe, Oceania, and the Caribbean Worked on successful transactions for private investors, developers, governments, utilities, and multilateral banks. Many of our engagements are from repeat clients, demonstrating our dedication and the quality, commitment and value of our work product. 4

5 Our Work Has Enabled our clients achieve successful, closed financings Better positioned our clients investments for long-term financial viability Provided assurance to lenders and investors Provided unbiased assessments of project, environmental and regulatory risk and return profiles Identified opportunities for capturing or creating value, and assisted our clients shape their hold or divestment strategies Featured global best practices, combined with local and sector knowledge. 5

6 Services During the Entire Project Lifecycle Castalia s expertise helps our clients identify good deals, make sound investment decisions, and manage project, regulatory, and government risk at every phase of the development lifecycle. Divestment Advice CASTALIA S EXPERTISE Project economic drivers and financial analysis Regulatory and contract analysis, risk register Market analysis Global knowledge Commercial Assessment Investment Decision Due diligence Valuation Lenders reports Operations Post-transaction close Operational Performance and Monitoring Optimizing revenue Due diligence Valuation support Lenders reports Transaction support Screening Idea generation Project sourcing Feasibility analysis Project risk Regulatory risk Value for money Business case Commercial case Negotiation Transaction Launch and Execution Managing risk Deal origination 6

7 Full Suite of Services Financial Advisor/ Investment Bank Legal CLIENT TRANSACTION TEAM Accounting OpEx/OM&R CapEx Environmental Risk CASTALIA VALUE ADDED Pricing/ Tariffs Castalia global and sectoral expertise Demand/ Revenue Source & Manage Operations Competition/ Regulation Best of breed asset specialists 7

8 Selected Clients 8

9 Broad Asset Coverage Transportation Roads, airports, railways, ports Utilities and Pipelines Power transmission and distribution, oil and gas pipelines, water systems, waste collection and treatment Generation Thermal and renewable, long term contract and merchant generation Communications Telecommunication towers, cable networks, satellite systems Social infrastructure Hospitals, schools, stadiums, prisons, courts, subsidized housing 9

10 Energy Sector Experience of Our Senior Professionals Electranet Ilijan and St. Rita Power Plants Powerco Power Utility $1.2 billion Hastings Fund Management Purchase of 41% of electricity transmission company Australia Regulatory Advisor $3.4 billion AES Corporation Coal and gas fired generation assets acquisition Philippines Market and Strategy Advisor 2007 $1 billion Queensland Investment Corporation Purchase of 50% stake of electricity distribution utility New Zealand Market Advisor ,800MW Coal Fired Power Plant Eraring Power Station and Retail Assets Tekapo Hydropower Plant $3 billion Indonesia Infrastructure Guarantee Fund 1,800MW IPP sale Indonesia Risk Appraisal $3.2 billion Origin Energy Purchase of 2880 MW power station plus retail assets of Integral Energy and Country Energy Australia Competition Advisor 2011 $630 million Genesis Energy Acquisition of the 185MW Tekapo A&B hydropower stations New Zealand Market and Financial Advisor

11 Port Experience of Our Senior Professionals North American Container Terminals, NY/NJ/Vancouver Port of New Orleans Container Terminal Port of Manatee $2.4 billion Ontario Teachers Pension Plan Container terminal acquisition Canada, US Transaction Advisor 2007 $250 million Port of New Orleans Napoleon Avenue container terminal P3 US Concession Advisor 2010 $150 million Manatee County Port Authority Options for capital improvement and terminal expansion US Financial and Concession Advisor Port Botany and Port Kembla Port of Paranaguá Container Terminal Port of Otago and Lyttelton Port $2 billion QIC, CPPIB & AimCo Port privatization Australia Regulatory Advisor 2013 $600 million Advent International Acquisition of an active concession Brazil Equity Advisor 2011 $800 million Lyttelton Port of Christchurch P3 Port Merger New Zealand Economic Advisor

12 Airport Experience of Our Senior Professionals Luis Muñoz Marin International Airport Guarulhos International Airport Norman Manley Airport $600 million Highstar Capital/Asur Consortium P3 airport concession Puerto Rico Equity and Lenders Advisor 2013 $1 billion Advent International International airport concession Brazil Equity Advisor $250 million International Finance Corporation Options for concessioning four airports Jamaica Concession Advisor 2010 Sangster International Airport El Dorado International Airport Christchurch International Airport $135 million National Investment Bank of Jamaica (Now Development Bank of Jamaica Ltd.) International airport privatization Jamaica Regulatory Advisor 2000 $300 million UBS Concession for a second runway Colombia Transaction Advisor 1993 $187 million Christchurch International Airport Commercial Strategy for airport pricing New Zealand Commercial Advisor

13 Surface Transport Experience of Our Senior Professionals Midtown/Downtown Tunnel, MLK Freeway I 95 High Occupancy Express, Managed Lanes (HOT/HOV) Sistema Anchieta Imigrantes Toll Road (Lot 22) $2.1 billion Macquarie & Skanska Extension of MLK Freeway US Lenders Technical and Traffic Advisor $900 million Transurban & Fluor Highway P3 transaction US Lenders Due Diligence Advisor $900 million Inter American Development Bank 160km toll road development Brazil Technical, Market, and Financial Advisor 2002 Australian Rail and Tram Franchises Central Kalimantan Coal Railway Santiago Valparaíso Viña del Mar Toll Road $2.6 billion Government of Victoria Franchise reorganization and concession retender Australia Contract Advisor 2002 $2.5 billion Indonesia Infrastructure Guarantee Fund Preparation of a coal hauling railway Indonesia Financial Advisor $500 million Inter American Development Bank, Financial Security Assurance, & Dexia P3 toll road development Chile Transaction Advisor

14 Water Sector Experience of Our Senior Professionals Sydney Desalination Plant Antofagasta Seawater Desalination Plant Bandar Lampung Bulk Water Supply Project $2.3 billion Ontario Teachers Pension Plan & Hastings Funds Management Desalination plant asset acquisition Australia Regulatory Advisor 2011 $300 million Inter American Development Bank, Obrascon Huarte Lain Group Reverse osmosis desalination plant Chile Technical and Market Due Diligence Advisor 2002 $100 million Indonesia Infrastructure Guarantee Fund Bulk water P3 project appraisal Indonesia Financial Advisor New Cairo Wastewater Treatment Plant PPP Project Jamaican Water Supply Project Ruataniwha Plains Water Storage Project $750 million International Finance Corporation Wastewater treatment P3 Egypt P3 Advisor 2008 $250 million Multilateral Investment Guarantee Agency Evaluation of a water supply project Jamaica Financial and Economic Advisor 2010 $197 million Hawke s Bay Regional Council Demand forecast for irrigation project New Zealand Strategic Advisor 14

15 Why Engage Us? Our commercial and technical insights help clients assess value, mitigate risks, and structure workable procurement and financing strategies leading to acquisitions, divestments, and Public Private Partnerships We step in quickly and work to the pace and granularity required by the investor and lender community We have the bandwidth for a full diligence effort given our global reach and access to best of breed, independent asset specialists We re independent, objective, and have global best practice experience We have a track record of helping our clients take projects to market You can rely on a Castalia report. 15

16 Our Senior Team Alex Sundakov Executive Director Mr. Alex Sundakov leads Castalia's capital advisory practice, based in Sydney. He brings a unique combination of public policy leadership and commercial experience. Since 2003, he has advised on numerous transactions for private clients, national and municipal governments, and international institutions. In the energy, water and transportation sectors. In energy in the last five years alone, Alex has advised on deals totaling over US$13 billion for some of the biggest private sector clients in Australia and New Zealand. Michael Schur Managing Director Mr. Schur is Managing Director of Castalia s Sydney office, where he has responsibility for the Australian and South East Asian practices. His focus is on competition issues (mergers and acquisitions, restrictive trade practices, third party access), market and regulatory due diligence for infrastructure transactions, and infrastructure in the resources sector. David Ehrhardt Chief Executive, Castalia David focuses on private finance and regulation of infrastructure and utilities. Qualified in law and economics, his experience prior to Castalia includes work on infrastructure, regulation and finance at the New Zealand Treasury, London Economics and Azurix. He is skilled in developing new structures for private investment in public infrastructure, and also advises governments on ways to improve policy and organization in infrastructure sectors. Yuval Cohen Consultant Dr. Cohen is a financial and economic advisor with over 27 years of experience in built infrastructure, having worked in North, Central and South America, Central Europe, and the Middle East. He has supported over US$16 billion in closed capital raised in America and Europe, with an enterprise value of several times that amount. 16

17 Washington T +1 (202) Pennsylvania Avenue NW Suite 1200 Washington, D.C United States Sydney T +61 (2) Level 1 Kyle House Macquarie Place Sydney, NSW 2000 Australia For more information please contact: [email protected] Wellington T +64 (4) Level 2, 88 The Terrace PO Box Wellington New Zealand Paris T: +33 (1) Rue Claude Chahu Paris France Bogotá T: Carrera 7 No Torre 1, Oficina 1424 Bogotá Colombia Alex Sundakov Alex.Sundakov@castalia advisors.com David Ehrhardt David.Ehrhardt@castalia advisors.com 17