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Due to the maturity of the UK PPP market, recycling equity and investing in PPP/PFI is becoming increasingly attractive. The growth of this secondary market and refinancing is producing many opportunities and a range of new investors including pension funds, insurance funds and private equity houses are now investing in PPP/PFI.

This event will examine the latest developments and opportunities in the secondary market and will address the complex operational and financial issues this dynamic market is creating.


Hear valuable contributions from:

David Finlay, Director of PFI Development,
National Audit Office
David Marshall, Director, Projects & Portfolio Finance,
John Laing Infrastructure
Forbes Johnston, Divisional Technical Director, Mott MacDonald
Robin Herzberg, Managing Director, Carillion PLC
Jon Gratton, Associate Director,
Aon Advisors
Bob Horner, Chief Executive and Co-founder,
CorLa
Paul Leatherdale, Global Head of Infrastructure Finance,
Depfa Bank
Andrew Davison, Vice President, Senior Credit Officer,
Moody's Investor Service Ltd
Mark Elliott, Partner, EC Harris


 Benefits of attending:

Gain key insights on deal flow and the future directions of secondary markets
Learn about consolidation and acquisition of portfolios
Understand how to manage an assets portfolio
Hear about the best insurance options to secure your investment
Discover how the European market is playing the secondary markets field
Take advantage of networking opportunities with your peers and key industry experts

Participants in 2006 included:

Absa Bank, ABSA Capital, Accent Group Ltd, Accent Partnerships, Állami Autópálya Kezelõ ZRT, Allied Irish Bank, Balfour Beatty Capital Projects, BDO Stoy Hayward, Carillion PLC, Commonwealth Bank of Australia, Department of Finance, PPP Unit, DEPFA Bank Plc, Dexia Public Finance Bank, DIF, Dundas & Wilson C S, Ernst & Young, Financial Modeller Ltd, Graham Construction, Grosvenor House Group plc, GSL UK Ltd, Henderson Global Investors, Infrastructure Investors (ii2), Kelda Water Services, KPMG, McCann FitzGerald Solicitors, Meridiam Infrastructure, Nationwide Project Finance, Newport Partners, Norton Rose, Oriel Secuirites Ltd, Partnership UK, Pinsent Masons, PKF, PricewaterhouseCoopers, QinetiQ, Secondary Market Infrastructure Fund, Semple Fraser LLP, Serco Capital Investments, Willis Limited….

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Mark Elliott

Mark Elliott, Partner, EC Harris LLP

9:10 THE SECONDARY MARKET: WHAT ARE THE ISSUES FOR THE PUBLIC SECTOR?

Mark Halliday

Mark Halliday, Corporate Finance Advisor, National Audit Office

• Main points from recent NAO/PAC reports
• Whether changing investors will impact on service delivery
• Timing of debt refinancings where there are equity sales
• Demonstrating the efficiency of the PFI equity market

9:50 THE PPP/PFI SECONDARY MARKETS - A RATINGS AGENCY PERSPECTIVE

William Coley

William Coley, Vice President, Senior Analyst, Moody's Investor Services Ltd

• Evolution of ratings approach to the construction phase
• Evolution of ratings approach to the operation phase
• Securitisation of PPP/PFI assets
• Emerging trends

10:30 Morning Coffee

11:00 RISKS AND PITFALLS OF SECONDARY MARKETS TRANSACTIONS

David Marshall

David Marshall, Director, Projects & Portfolio Finance, John Laing Infrastructure

• Identifying risks
• How to mitigate
• Protecting value
• Latest trends

11:40 TECHNICAL PERSPECTIVES ON REFINANCING OF ROAD PROJECTS

Forbes Johnston

Forbes Johnston, Divisional Technical Director, Mott MacDonald

  • What and where are the markets
  • What are the real risks
  • Sweating the asset
  • Case study
  • 12:20 Networking Lunch

    13:50 PORTFOLIO ASSET MANAGEMENT

    Tony Hazell

    Tony Hazell, Managing Director, CorLa

  • Acquisition, consolidation, hold or dispose
  • Generating appropriate management information
  • Management approach and structures
  • Securing Returns
  • Value enhancement and captur
  • 14:30 ENHANCING VALUE & RETURN

    Mark Elliott

    Mark Elliott, Partner, EC Harris LLP

    • Extent of the Market
    • Ten ways to enhance value & return – increase the chances of winning
    • Impact on the Business Model
    • Position in the deal life cycle
    • Investor needs to enhance value and return

    15:10 Afternoon Tea

    15:40 INSURANCE SOLUTIONS FOR EQUITY PROVIDERS

    • Benefits to be gained  from portfolio placements
    • Structuring an insurance placements
    • Problems to be overcome
    • Alternative programme structures
    Jon Gratton

    Jon Gratton, Associate Director, Aon Advisors Group Ltd

    Stephanie Ottey

    Stephanie Ottey, PFI Insurance Advisor, Aon Advisors Group Ltd

    16:20 SECURITISING INFRASTRUCTURE DEBT

    Darryl  D'Souza

    Darryl D'Souza, Director, DEPFA Bank Plc

    • Market developments
    • Structuring considerations
    • Portfolio composition and rating process
    • Case study: EPIC

    17:00 Chairman’s Closing Remarks and Close of Conference

    +

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    Delivering Optimal Returns

    The Hatton, at etc. venues
    14th November 2007
    London, United Kingdom

    The Hatton, at etc. venues

    51/53 Hatton Garden
    London EC1N 8HN
    United Kingdom

    The Hatton, at etc. venues

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