Menu Sectors
Project Finance Copying and distributing are prohibited without permission of the publisher

Cross dressing

01 December 2005

Is it a boutique, fund manager, sponsor or bank – even Babcock & Brown finds it hard to define itself. As its asset portfolio grows, what's next for this new breed of investment bank? By Andreas Campomar

Read more: [PFI] [PPP] [BOT] [schools] [project finance]

Last year's impressive $550 million IPO on the Australian Stock Exchange (ASX) was just the latest evidence of Babcock & Brown's (B&B) metamorphosis from boutique lease arranger into principal investment businesses.

According to Giles Frost, co-head of UK infrastructure, "The changes in the ways the finance leasing market worked and, in particular, the reduced ability to create advantageous cross-border deals promoted the pace of change. As work diminished in one area, it grew in others. We are now a significant global developer of and investor in assets."

The success of the IPO, from which Babcock & Brown received close to $6 billion in orders, coupled with overlapping business interests has brought with it a number of back-handed comparisons with Macquarie. And it is fair to say that both groups have similar growth strategies.

Back to its US roots

Nowhere is this more evident than in the US toll road market. Babcock...


Latest Deals Database updates

Reading Civic Centre Update date 17/04/2014
Sector Social Infrastructure/PPP/P3/PFI > Social Housing
Country Europe - EU > UK
Total Debt Loan Amount
Status Preferred bidder
El Limon-Guajes Gold Update date 17/04/2014
Sector Mining/Metals > Metals
Country Latin America > Mexico
Total Debt Loan Amount
Status Finance mandated
Highway 407 East (Phase 2) Update date 17/04/2014
Sector Transport > Highway maintenance
Country North America > USA
Total Debt Loan Amount
Status RFP
Change font size: Switch to default font size Switch to medium font size Switch to large font size