March 01, 2015 11:22 AM ET

Capital Markets

Company Overview of Borealis Capital Corporation

Company Overview

Borealis Capital Corporation is a private equity firm specializing in equity and debt infrastructure investments in companies in the formative stages. It prefers to invest in transportation; energy; infrastructure buildings; pipelines; water; and wastewater. The firm’s transportation investments include toll roads, bridges, tunnels, airports, inter-urban rail, transit systems, and ports. In the energy sector, the firm invests in power generation, transmission systems, municipal utilities, and alternative sources. The firm’s infrastructure building investments include long-term care facilities, schools, courthouses, and hospitals. Its pipeline investments include oil and gas. The firm invests...

Royal Bank Plaza

South Tower

200 Bay Street

Suite 2100

Toronto, ON M5J 2J2

Canada

Founded in 1999

Phone:

416-361-1011

Fax:

416-361-6075

Key Executives for Borealis Capital Corporation

President and Chief Executive Officer
Chief Financial Officer
Age: 55
Executive Vice President
General Counsel
Director of Human Resources
Compensation as of Fiscal Year 2014.

Borealis Capital Corporation Key Developments

Bidders Reportedly Eye Port of Melbourne

Global Infrastructure Partners has partnered with QIC Limited and ¬Borealis Capital Corporation for the acquisition of Port of Melbourne Corporation in a deal valued as much as $5 billion. The consortium is being advised by Credit Suisse and Gresham. Morgan Stanley and Flagstaff are handling the sale. Other bidders in race are known to be IFM Investors Pty Ltd, advised by JPMorgan, and Hastings Funds Management Limited together with Wren House Infrastructure Management Limited, which are advised by Royal Bank of Canada and UBS. Morgan Stanley and Flagstaff have sent out flyer documents for the sale and are calling for formal expressions of interest in late February, indicative bids in mid-May and binding bids in August. Macquarie and Bank of America Merrill Lynch are working on behalf of the Queensland government for its privatization program.

State Grid Corporation of China Reportedly Retains HSBC For Acquisition Of Electricity Assets

State Grid Corporation of China has retained HSBC to advise it on the acquisition of up to $50 billion worth of electricity assets earmarked for sale by the Queensland and NSW governments. State Grid will rival three consortiums and other possible buyers, likely to include Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038), advised by Credit Suisse and potentially Citigroup Inc. (NYSE:C). So far, consortiums in place are Australian Super, Canada Pension Plan Investment Board and Borealis Capital Corporation advised by Morgan Stanley and Goldman Sachs, and IFM Investors Pty Ltd and QIC limited, which may be representing interests of the Future Fund and could be taking advice from Barclays. Caisse de dépôt et placement du Québec is said to have joined the Hastings Funds Management Limited’s consortium with Spark Infrastructure Group (ASX:SKI), advised by JP-Morgan and Royal Bank of -Canada. Universities Superannuation Scheme Limited and Abu Dhabi Investment Authority were in talks to join Hastings before Christmas and could be still searching for partnership opportunities. Singapore Power Ltd is still considering whether to enter the bidding. A decision on whether the Queensland government sells its electricity assets will depend on the outcome of the January 31, 2015 election. Macquarie and Bank of America Merrill Lynch are handling the Queensland sales. The sale will begin with Powerlink Transmission Services Pty Ltd. valued between $10 billion and $12 billion, followed by Energex Limited and Ergon Energy Queensland Pty Ltd. with all assets collectively worth about $30 billion. The government will also sell a lease for 100% of its electricity transmission network TransGrid, for between $7 billion and $8 billion. This will be followed by sale of 50% stakes in Ausgrid and Endeavour Energy. About $20 billion collectively is expected from the sell down.

Pension Funds, Infrastructure Investors Reportedly Eyeing ITR Concession

Some of the world's largest pension funds and infrastructure investors are forming consortia to bid ITR Concession Co LLC that filed for bankruptcy, Reuters reported citing people familiar with the matter. Canada Pension Plan Investment Board has teamed up with Cintra Concesiones de Infraestructuras de Transportes SA and Brookfield Asset Management Inc. (TSX:BAM.A) to make an offer. Hastings Funds Management Limited has partnered with the California Public Employees' Retirement System (Calpers) and Autostrade Meridionali SpA (BIT:AUTME). Abertis Infraestructuras SA (CATS:ABE) has teamed up with Borealis Capital Corporation. IFM Investors is also leading its own consortium. Alberta Investment Management Corporation (AIMCo) and Abu Dhabi Investment Authority (ADIA) have considered joining the race but have yet to make a decision. Macquarie Group Limited (ASX:MQG) and Ferrovial, S.A. (CATS:FER) proposed selling itself to the highest bidder in its Chapter 11 bankruptcy to raise money to pay down $6 billion in debt. Alternatively, the company could pursue a debt restructuring. An auction for ITR is expected to kick off later in October 2014. A deal will likely value it at between $4 billion and $5 billion. Ferrovial, Macquarie, Brookfield, Hastings, CalPERS, IFM and AIMco declined to comment, while ITR, Autostrade, Abertis, Borealis and ADIA did not respond to requests for comment.

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