States Take Lessons From Indiana P3 Project, Focus on Bidder’s Qualifications

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Continued construction risk in public-private partnerships was a key topic for financing experts on a panel hosted by investment firm D.A. Davidson as part of its annual investor conference, held in Chicago on Sept. 19.

“There are two types of equity investors that usually get into P3s,” said Bryan Kendro, vice president of project development at Star America Infrastructure Partners and a former project executive for the Pennsylvania Dept. of Transportation’s Bridges Rapid Renewal P3. “There are those getting in during design when there’s a lot of risk and those looking to recycle cash to insurance companies and pension funds within one or two years of the project starting.”

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