Mon . 19 Apr 2019

Meridiam

meridian, meridiano
Meridiam is a global investor and asset manager based in Paris specialized in developing, financing and managing long-term public infrastructure projects Founded in 2005, Meridiam invests in public infrastructure in Europe, North America and Africa

Meridiam, with offices in five countries France, Luxembourg, United States, Canada and Turkey, manages €32 billion of assets and has to date invested in over 44 transport, building and public services projects1

Contents

  • 1 History
    • 11 2005-2009: First fund and first investments
    • 12 2010-2011: Continuation of investments in Europe and North America
    • 13 2012-2013: Greater independence
    • 14 2014-2016: Development in Africa and new investments in Europe
  • 2 Activities
  • 3 Ethics and governance
  • 4 Awards
  • 5 Notes
  • 6 External links

Historyedit

2005-2009: First fund and first investmentsedit

Meridiam was established in 2005 by Thierry Déau, formerly Chief Executive of Egis Projects, a subsidiary of France’s Caisse des Dépôts et Consignations specialized in developing, financing and managing infrastructure projects

Set up to finance public infrastructure and to create a secure investment framework for long-term savings, Meridiam received the financial and operational support from the Crédit Agricole Group and AECOM Technology2

In 2006, while achieving the first closing of its fund Meridiam I, the company secured its first two projects: the Limerick Tunnel in Ireland,3 which began operating in July 2010, and the A5 highway in Austria, which opened to traffic in January 20104

In 2007, Meridiam acquired the Fulcrum LIFT project covering local healthcare facilities in the United Kingdom,5 as part of large-scale program sponsored by the British Health Ministry

In 2008, the company proceeded to a new fund-raising round for Meridiam I, which brought the fund size to €548 million6 In the same year, Meridiam secured a stake in the A2 Motorway phase I project in Poland7

In 2009, Meridiam won four new projects in Europe: the A5 Motorway in Germany,8 the A2 Motorway phase II in Poland,9 the R1 Motorway in Slovakia10 and the velodrome in Saint-Quentin-en-Yvelines, France11 In the same year, Meridiam also secured two projects in the United States: the port of Miami Tunnel, inaugurated in May 201412 and the North Tarrant Express Highway in Texas, which began operating in October 201413

Also in 2009, Infrastructure Investor selected Meridiam as European Fund of the Year14

2010-2011: Continuation of investments in Europe and North Americaedit

While engaging a fund-raising process on both sides of the Atlantic Meridiam Infrastructure Europe II15 and Meridiam Infrastructure North America II16, Meridiam signed 6 new contracts between 2010 and 2011, including the new Montreal University Hospital Research Center which opened in the fall of 2013,17 the Long Beach Courthouse which opened in the fall of 2013 in California,18 the Nottingham Express Transit phase II which began operating in May 2015,19 as well as the South-Europe Atlantique High-Speed rail line in France scheduled to open in the summer of 201720

In 2011, Meridiam received the Fund of the Year award for its global achievements by Infrastructure Journal21

2012-2013: Greater independenceedit

In 2012, Meridiam set up a new supervisory board22 The ownership structure was modified and resulted in the majority of shares being held by partners and employees As of 2013, AECOM maintained thirty percent ownership in Meridiam23

In the same year, the closing of the funds Meridiam Infrastructure Europe II 24 and Meridiam Infrastructure North America II 16 increased the investment capacity of the company to $23 billion

In order to finance the student housing facilities of the University of Hertfordshire scheduled to open in September 2016,25 the company launched in 2013 the first project bond without credit enhancement in Europe26 Simultaneously, Meridiam launched a partnership with the EDHEC Risk-Institute to support academic research A new chair was established, dedicated to infrastructure equity investments, as well as to the recognition of infrastructure as a separate asset class27

This position was recently adopted by the European regulator EIOPA following a consultation28

2014-2016: Development in Africa and new investments in Europeedit

In the first half of 2014, the company announced the fund-raising round of the first fund dedicated to the African continent, the Meridiam Infrastructure Africa Fund, targeting €300 million over a period of 15 years29 In September 2015, the European Investment Bank announced its participation in this fund with an investment of €30 million30

In the same year, Meridiam opened an office in Istanbul and invested in four hospital projects in the country31

In February 2015, the company signed a concession contract reuniting the ports of Calais and Boulogne-sur-Mer and comprising the project Calais Port 2015 It is the first French public infrastructure project carried by France as part of the Juncker Plan32

Finally, in the context of the 2015 Paris Climate Conference organized in late 2015, Meridiam announced the launch of a new fund dedicated to infrastructure projects relating to energy transition33

At the beginning of 2016, Meridiam opened an office in Dakar

Activitiesedit

Meridiam develops, finances, builds and manages various types of projects:

  • Transport infrastructure high-speed rail lines,34 highways,35 tunnels,12 ports,36 tramways,19 etc
  • Social infrastructure schools, universities,37 healthcare centers,38 stadiums,39 etc
  • Public buildings courthouses,18 government offices,40 ministries, etc
  • Utility networks and services water, waste management, energy,41 etc

Ethics and governanceedit

Signatory of the United Nations’ Principles for Responsible Investment PRI since 2010,42 the company adopted since its inception an Ethics Charter focusing on environmental, social and governance issues43

In January 2012, Meridiam was the first investor and asset manager to receive ISO 9001 certification for its activity including it sustainable investment process44

Awardsedit

Meridiam received the following awards :

  • ”Infrastructure Fund of the year” 2015, ”European Ports Award” with the Calais Port 2015 project and the ”European Refinancing Award” with the B66 Benavente-Zamora project 2015 by the Infrastructure Journal45
  • ”Global Infrastructure Fund of the Year” 2013,46 “Overall Infrastructure Fund of the Year” 2012,47 “Fund Manager of the Year – Global” 201121 and “Sponsor of the Year” 200948 by the Infrastructure Journal
  • ”European Infrastructure Fund Manager of the Year” by Infrastructure Investor 2012, 2011, 2010 and 200914
  • ”Global Financial Sponsor of the Year” by Project Finance 200949

Notesedit

  1. ^ "La BEI injecte 30 millions d’euros dans le fonds africain de Meridiam" Jeune Afrique 28 September 2015 Retrieved 20 November 2015 
  2. ^ Description of Meridiam on the European Investment Bank's website
  3. ^ Website of the Limerick Tunnel
  4. ^ Website of the A5 highway
  5. ^ "How Meridiam’s medicine worked at Fulcrum" Infrastructure Investor 28 July 2015 Retrieved 25 November 2015 
  6. ^ "Meridiam Infrastructure raises EUR600m for public-private partnership investment" Privateequitywirecouk 24 April 2008 Retrieved 20 November 2015 
  7. ^ "Meridiam reste optimiste pour le financement des infrastructures" Le Moniteur 12 December 2011 Retrieved 20 November 2015 
  8. ^ "Vinci closes funding for Malsch-Offenburg section of A5 Autobahn in Germany" Vinci's website 31 March 2009 Retrieved 20 November 2015 
  9. ^ "L'autoroute reliant Berlin à Varsovie sera prête à temps pour l'Euro 2012" Les Echos 2 December 2011 
  10. ^ Project's description on the EBRD's website
  11. ^ "Le chantier du vélodrome de Saint-Quentin-en-Yvelines tourne rond" Le Moniteur 7 June 2012 Retrieved 20 November 2015 
  12. ^ a b "Decades after conception Miami has a port tunnel" Miami Herald 17 May 2014 Retrieved 20 November 2015 
  13. ^ "Sooner than later, ‘new LBJ’ freeway construction will take its toll" Dallas Observer 26 February 2009 Retrieved 20 November 2015 
  14. ^ a b Source: Infrastructure Investor Awards 2009
  15. ^ "Meridiam lève deux fonds pour les infrastructures" L'Agefi 14 April 2012 Retrieved 25 November 2015 
  16. ^ a b "Meridiam lève 1,05 milliard de dollars pour l'Amérique du Nord" L'Agefi 25 October 2012 Retrieved 25 November 2015 
  17. ^ "Meridiam Eyes US, Canadian Infrastructure With New $1B Fund" Law 360 19 October 2012 Retrieved 20 November 2015 
  18. ^ a b "Meridiam closes miniperm for Long Beach Courthouse" Project Finance 21 December 2010 Retrieved 20 November 2015 
  19. ^ a b "La ville de Nottingham choisit le consortium Tramlink pour l’extension de son réseau de tramway" Businesswirecom 15 December 2011 Retrieved 25 November 2015 
  20. ^ "Coût d’envoi pour la LGV de Nîmes à Montpellier" Les Echos 29 June 2013 Retrieved 25 November 2015 
  21. ^ a b "Meridiam awarded Infrastructure fund of the year – global" Infrastructure Journal 30 March 2012 Retrieved 20 November 2015 
  22. ^ "Infrastructures : le fonds Meridiam quitte Crédit Agricole" Les Echos 5 April 2012 Retrieved 20 November 2015 
  23. ^ The Planning Report December 4, 2013 "AECOM Forges New Approach to Construction and Financing in Downtown LA" 
  24. ^ "Meridiam lève deux fonds pour les infrastructures" L'Agefi 14 April 2012 Retrieved 20 November 2015 
  25. ^ "Les project bonds font une percée en Europe" L'Agefi 31 May 2013 Retrieved 20 November 2015 
  26. ^ "Meridiam boucle le premier ‘‘project bond’’ en Europe" Les Echos 31 May 2013 Retrieved 20 November 2015 
  27. ^ "Meridiam soutient la recherche sur le financement des infrastructures" Boursiercom 17 January 2013 Retrieved 25 November 2015 
  28. ^ "EIOPA advises to set up a new asset class for high-quality infrastructure investments" EIOPA's website 29 September 2015 Retrieved 20 November 2015 
  29. ^ "Meridiam signe ses premiers pas dans les infrastructures africaines" L'Agefi 4 August 2015 Retrieved 20 November 2015 
  30. ^ "Meridiam annonce la participation de la BEI à son fonds africain" European Investment Bank's website 28 September 2015 Retrieved 25 November 2015 
  31. ^ "Meridiam investit dans le futur complexe hospitalier d’Adana, dans le sud de la Turquie" Next Finance 19 December 2014 Retrieved 25 November 2015 
  32. ^ "L’extension du Port de Calais, un avant-goût du plan Juncker" Le Moniteur 6 March 2015 Retrieved 25 November 2015 
  33. ^ "CNP Assurances et Meridiam lancent Meridiam Transition pour financer la transition énergétique" zoneboursecom 24 November 2015 Retrieved 25 November 2015 
  34. ^ "RFF signe avec Bouygues le contrat du contournement LGV Nîmes-Montpellier" Midi Libre 28 June 2012 Retrieved 20 November 2015 
  35. ^ "Varsovie sera prête à temps pour l’Euro 2012" Les Echos 2 December 2011 Retrieved 25 November 2015 
  36. ^ "Meridiam investit dans le projet Calais Port 2015" L'Agefi 20 February 2015 Retrieved 20 November 2015 
  37. ^ "En Angleterre, un ‘‘project bond’’ au service du financement des logements étudiants" Localtisinfo 3 June 2013 Retrieved 25 November 2015 
  38. ^ "Three firms acquire £30m LIFT PPP companies in UK" Infrastructure Journal 15 June 2007 Retrieved 25 November 2015 
  39. ^ "Bouygues va construire le vélodrome de Saint-Quentin-en-Yvelines" Le Parisien 17 December 2009 Retrieved 25 November 2015 
  40. ^ "Eiffage cède deux sociétés à Meridiam Infrastructure" Option Finance 23 December 2013 Retrieved 25 November 2015 
  41. ^ "Le fonds Meridiam compte financer un important projet au Maroc" Le Matin 2 July 2014 Retrieved 25 November 2015 
  42. ^ List of the signatories of the United Nations's Principles for Responsible Investment's Retrieved 25 November 2015
  43. ^ Source: Meridiam Sustainable Development Charter on Meridiam's website Retrieved 25 November 2015
  44. ^ "Meridiam announces EIB participation in its Africa fund" PR Newswire 25 September 2015 Retrieved 25 November 2015 
  45. ^ "IJGlobal Awards 2015 | Overview | IJGlobal" ijglobalcom Retrieved 2016-04-01 
  46. ^ "IJ Awards 2013 : The Winners" ipfaorg 19 April 2013 Retrieved 25 November 2015 
  47. ^ "Not only long overdue but vital for successful investment" Edhec Risk-Institute 30 April 2015 Retrieved 20 November 2015 
  48. ^ Source: OECD's website
  49. ^ Source: PFI Awards 2009 Retrieved 25 November 2015

External linksedit

  • wwwwmeridiamcom

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