Finding opportunities in transportation infrastructure amid a potential recession
Transportation businesses were hot commodities in the first half of 2022 as buyers looked to acquire assets connected to changes in shipping and travel brought about by the COVID-19 pandemic. But as activity starts to return an “old” normal, some funds are taking a more cautious approach to investing in the sector. This panel will examine opportunities in a world facing a potential shipping recession.
Carried by multi-billion dollars deals such as JFK New Terminal One, JFK Terminal 6 redevelopment, Maryland Purple Line, and Pennsylvania Major Bridges program, the transportation sector attracted investments for almost USD 45bn in US and Canada last year. If greenfield financing was the hot market, the same cannot be said by looking at transport’s M&A figures, that decreased heavily YoY. However, a strong and diverse pipeline with 100+ M&A transactions at early stage give more confidence to investors.
- Will ocean carriers continue to dominate auctions for port assets or could a slow down in shipping activity provide an opening to infrastructure funds?
- Is there still room to run in the race to consolidate fixed base operators at airports?
- Several transport assets on the block in 2022 did not find buyers. What concessions do sellers need to make to reach deals in 2023?
- What transportation assets can investors buy with an ESG angle?
-
SpeakersAman Randhawa Principal QIC
Dave Joynt Managing Partner, Infrastructure Brookfield
Allison Kingsley Partner and Founder NOVA Infrastructure
James Wyper Senior Managing Director, Head of Transportation & Logistics Stonepeak
Emmett McCann Managing Director and Co-Portfolio Manager Oaktree Capital
Matthew Mendell Managing Director, Americas OMERS Infrastructure
Patrick Selinger Partner Winston & Strawn
Confirm cancellation
Something went wrong.
An error occurred trying to play the stream. Please reload the page and try again.
CloseSign-up to join the ION Analytics Community to:
- Register for events
- Access market insights
- Download reports
| Aman joined QIC’s New York office in 2018 and leads the Transport coverage in North America on both acquisitions and asset management, with particular responsibility for investment origination. Prior to joining QIC, Aman was Executive Director, Investment Banking, Infrastructure and Power at CIBC Capital Markets. Aman’s experience spans M&A, debt financing and public-private partnerships transactions across the transportation, water, energy and social infrastructure sectors. Before joining CIBC in 2014, Aman was an investment banker at Morgan Stanley based in New York. Prior to his MBA, Aman worked as a transportation planning engineer with a focus on developing travel demand models for toll road, mass transit and airport projects. Aman is currently a director of MI Longbeach LLC (the project vehicle for the Long Beach Courthouse PPP project), CampusParc LLC (Ohop State University Parking Concession), and MasParc and Mobility LLC (Northeastern University Parking Concession). Aman holds a Bachelor of Engineering from Thapar Institute (India), a Master of Science from Virginia Tech, and a Master of Business Administration from the University of Chicago Booth School of Business. |
Dave Joynt is Managing Partner in Brookfield’s Infrastructure Group. In this role, he leads infrastructure investment activities in North America has a global focus on the transport sector. He also co-leads the investment team in Toronto.
Prior to joining Brookfield in 2020, Mr. Joynt was a senior principal at Canada Pension Plan Investment Board on its infrastructure team across a number of geographies, including working as CFO of its Australian rail business. Previously, Mr. Joynt worked in private equity and advisory.
Mr. Joynt holds a Master of Business Administration degree from the Harvard Business School, where he graduated as a Baker Scholar, and an Honours Business Administration degree from the Richard Ivey School of Business, where he graduated as an Ivey Scholar.
ALLISON KINGSLEY is Founder and Partner of NOVA Infrastructure, a value-added, middle market infrastructure manager investing in environmental services, transportation, energy transition, and communications sectors in North America. Currently NOVA’s portfolio for its $565 million Fund I consists of seven investments: a vertically integrated waste management platform; a US Flag maritime logistics business; a fixed base operator aviation platform; a port-centric storage and logistics platform; a renewable natural gas business; a fiber-to-the-home business; and a fixed wireless business.
At NOVA, Allison leads the sourcing and execution of infrastructure investments and sits on the Investment Committee. Currently, Allison serves on the Board of Directors for Bold Ocean, a government-contracted maritime logistics business operating US Flag vessels, and Harbor Logistics, a warehousing, drayage, and supply chain logistics business based in Charleston.
Allison has nearly 25 years of experience working in infrastructure. Prior to founding NOVA, Allison invested for infrastructure manager Reformation Capital and also executed bespoke investments for anchor PartnerRe’s principal finance portfolio. Previously, Allison worked at Ambac focusing on global project and structured financings. She started her career at Lehman Brothers in the M&A group in the investment banking division. In addition, Allison is a political economist and former tenured business school professor.
Allison holds a B.A. cum laude from Rice University, an M.S.L. from Yale Law School, and a Ph.D. from Columbia University. She currently serves on the Board of Directors for YWCA Greenwich, an organization committed to eliminating racism and empowering women.
James is a Senior Managing Director and is Head of Transportation & Logistics with Stonepeak. Prior to joining Stonepeak, James was a member of Credit Suisse’s Global Energy group, where he focused on the power and renewables sectors. James received a Bachelor of Arts in Economics from Yale University.
Emmett McCann is a managing director and co-portfolio manager of Oaktree’s Infrastructure Investing strategy, specializing in the transportation sector. He is also a member of Oaktree’s ESG Governance Committee. Mr. McCann joined Oaktree in 2014 from Highstar Capital with over 19 years of experience in infrastructure, private equity, investment banking and finance. During his tenure at Highstar, Mr. McCann helped lead the firm’s first airport investment, London City Airport, and led the first major public-private partnership (“PPP”) for an U.S. airport, the 40-year lease of the Luis Munoz Marin Airport in San Juan, Puerto Rico. Prior to joining Highstar in 2009, Mr. McCann helped build Morgan Stanley's infrastructure effort in Europe and North America. Prior to joining Morgan Stanley, he was part of the team that established the infrastructure investment banking practice at Goldman Sachs. Over his career, Mr. McCann has advised multiple government agencies (both in the U.S. and internationally) on Public-Private Partnerships (“PPP”) across the transportation sector. He currently serves on the boards of directors of the Ports America Companies and LoneStar Airport Holdings LLC. He previously served on the boards of Aerostar Airport Holdings and CrowdVision Ltd. Mr. McCann holds a B.A. degree in finance from the University of Wisconsin-Madison and an M.B.A. with honors from the University of Chicago.
Matthew is a Managing Director with OMERS Infrastructure’s team in Toronto, where he is responsible for the origination, execution and management of infrastructure investments. Matthew’s current responsibilities include the key investment themes of mobility, natural systems and community services across the Americas. He joined OMERS in 2021.
Prior to joining OMERS, Matthew spent 12 years at Evercore, where he was most recently a Managing Director in the Americas infrastructure advisory team. While at Evercore, Matthew covered businesses across the full spectrum of infrastructure including the core, core-plus and value-added sectors. Prior to Evercore, Matthew was with the Macquarie Group, with roles at Macquarie Capital Advisors and Macquarie Infrastructure and Real Assets.
Matthew has a Bachelor of Commerce degree from McGill University, and a Masters of Finance degree from INSEAD.
Patrick Selinger represents clients in a wide range of U.S. and international transactions, including infrastructure development, mergers and acquisitions, project financings, and public-private partnerships.
Patrick also served as in-house counsel at a multi-national commodities trading company and as a secondee to the international legal department of a major Japanese trading house in Tokyo.