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Special purpose vehicles
KC: From our perspective, it’s probably two things. Firstly,
we are focusing a lot more on active SPVs and active equity
when doing our procurement, evaluation and considering who
the counterparty is going to be. Secondly, it’s about outcomes
and what we’re looking for, and ensuring that both parties are
aligned with the same goal.
IH: In many PPPs, particularly in social rather than the
economic PPPs, there are investors in projects that are
becoming specialists in PPP management, and they have a
team that might manage three or four small PPPs at once. I’m
not quite sure whether I’ve formed a view on whether this is a
good thing or not, because I think it’s important to have genuine
independence in an SPV; but if there’s a wealth of experience
that’s learnt from others, then perhaps it is a good thing.
CM: We’ve made observations in this forum as to how things
have changed, I think, for the better over time – particularly
more recognition of the real role and responsibility of SPVs. At
the same time, the model has been refined across all markets
to converge, broadly speaking. I think that there is a cigarette
paper between the PPP documentation across jurisdictions by
and large. In my experience, it’s more about the attitude to how
it’s administered – this has an overwhelming influence.
When you get alignment between the executive and political
arms of government, you’ve got a commitment to the model at
the political level, and you’ve got the executive on board and
engaged in delivering to the best possible way. That’s when you
get the best outcome.
Matt Brassington – Chief Executive Officer, Aquasure
Matt Brassington is Chief Executive Officer of Aquasure Pty Ltd. Aquasure holds the concession from the Victorian Government awarded in 2009 to finance,
design, build and operate, for a period of 30 years, the Victorian Desalination Project, which includes the largest seawater desalination plant in the Southern
Hemisphere. Formerly, Mr Brassington was Chief Executive Officer of Epic Energy, one of Australia’s largest high-pressure gas transmission pipeline businesses.
Mr Brassington is originally from the United Kingdom and trained as a chartered accountant before moving to Australia in 2003.
Kim Curtain – Executive Director, Head of the Infrastructure and Structured Finance Unit, NSW Treasury
Kim Curtain is Head of the Infrastructure and Structured Finance Unit at NSW Treasury. In this role, Ms Curtain is involved with all complex service-enabling
infrastructure projects in New South Wales, providing commercial and financial advice to agencies and government. Ms Curtain’s team is focused on providing
the people of New South Wales with world-class infrastructure and services that are value for money.
Ms Curtain has over 20 years of experience across Australia, Asia and the United Kingdom in project finance, procurement, commercial advisory and contract
management. She has a passion for social infrastructure and is focused on optimising service outcomes.
Ian Hunt – Chief Executive Officer, Moorebank Intermodal Company
Ian Hunt is the Chief Executive Officer of Moorebank Intermodal Company, the Commonwealth Government business enterprise charged with facilitating the
development of a major intermodal terminal in south-west Sydney. An engineer by background, he has a long career in major project delivery, including leading
the two public-private partnership concessionaires that developed the Lane Cove Tunnel toll road and delivered the 626-car Waratah passenger train rolling
Charles Mott – Chief Executive Officer, NorthWestern Roads Group
Charles Mott is currently the Chief Executive Officer of NorthWestern Roads Group, the owner and operator of Sydney’s Westlink M7 and NorthConnex
Mr Mott has 30 years’ experience in infrastructure development, financing, design, construction, policy, ownership, investment and operation.
He is experienced in infrastructure in all states and territories of Australia and New Zealand, the United Kingdom, Europe, Canada and North America. His sector
experience includes social public-private partnerships (hospitals, prisons, schools, courts), transport (motorways, toll roads, light rail), power (thermal coal, gas,
wind), sports stadiums, tourism (hotel and residential development) and water filtration, gained from the perspective of a consultant (Maunsell & Partners),
financier (Barclays Bank), investment banker (BZW), constructor (Baulderstone), developer, investor and operator (Bilfinger Project Investments), fund manager
(Transfield Services Infrastructure Fund), institutional investor (BBGI) and policy agent (Infrastructure Partnerships Australia).
Christopher Voyce – Executive Director, Co-Head Infrastructure, Utilities & Renewables, ANZ, Macquarie Capital
Christopher Voyce has been the Co-Head of Macquarie Capital’s Infrastructure, Utilities and Renewables industry group in Australia and New Zealand since
September 2015, after returning from 11 years as a senior director with Macquarie Capital in the United States. Mr Voyce has more than 20 years’ experience
advising corporates, governments and investors on infrastructure mergers and acquisitions, project financing and project development. He has closed over
$50 billion in infrastructure financings, fundraisings and acquisitions for a range of clients in the power, utilities, transportation and social infrastructure sectors in
Australia, Asia, Europe and North America.
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