Investment
WestConnex among largest infrastructure deals in 2018

The WestConnex Motorway ranked among the largest infrastructure projects by deal size globally in 2018, latest Preqin data shows.

Backed by the Abu Dhabi Investment Authority and a consortium that includes AustralianSuper and Transurban, the $9.26 billion WestConnex project was billed the fourth largest deal in Preqin's annual list.

The consortium owns 51% of WestConnex, which will upgrade major roads and motorways around Parramatta, Homebush, Rozelle and Haberfield.

Two European renewable energy deals, Innogy ($32.8bn) and Direct Energie ($22.5bn) topped the largest deals.

SCANA Corporation ($21bn), an energy-based holding company located in the US, came in third place.

Over the course of 2018, 2454 infrastructure deals were made totalling US$322 billion, with renewable energy increasingly accounting for the bulk of infrastructure investments.

Preqin head of real assets Patrick Adefuye said the industry has seen deal activity decrease year-on-year following a peak in 2016 which saw a record amount of capital invested in infrastructure.

Last year represents a slowing in activity from 2017, which saw 3165 deals made for a total of US$387 billion.

"The number of deals made in 2018 has declined from 2017, posing a particular challenge at a time when fundraising is at record levels. The influx of capital has put upwards pressure on asset pricing, and has made finding attractive opportunities more difficult for many managers," he said.

On the flipside, Adefuye said renewable energy had a stellar year, accounting for over half of the deals made.

Read more: WestConnexPreqinAustralianSuperPatrick AdefuyeSCANA CorporationTransurban
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