BOOK OF THE NIGHT

HEAD JUDGES

Bryan KendroVice President – Project

Development, Star America Infrastructure Partners

Ben DjiounasExecutive Director,

JP Morgan

Andrew AnconeManaging Director, Macquarie Capital

Dolly MirchandaniPartner,

Allen & Overy

Majid HaquaniHead of Management Consultancy Team, Mott MacDonald

Samara BarendSenior Vice President,

P3 Development Director, Aecom Capital

4P3 AWARDS 2016 BOOK OF THE NIGHT

#P3Awards2016

HEAD JUDGES

Simon J. SantiagoPartner,

Nossaman

Mike ParkerUS Infrastructure

Advisory Leader, EY

Michael SchneiderSenior Vice President and Director

of Professional Services, HDR

David UtzVice President, Head of Infrastructure Advisory,

Goldman Sachs

Joseph SeligaPartner,

Mayer Brown


#P3Awards2016


#P3Awards2016

INTRODUCTIONWelcome to our third annual P3 Awards in its new home in the glamorous setting of Las Vegas.

Once again we are delighted with such a positive reception to the Awards, with over a hundred entries for projects and categories across the Americas.

For the first time, this year’s Awards has followed our first Americas-wide P3 Hub conference where we showcase three regions that are leading the way in P3. For Canada we are highlighting Ontario, for the US we are showcasing California and for Latin America we are focusing on Colombia. These three regions were chosen for demonstrating strong political leadership and support; active and enthusiastic private sector participants and an exciting dealflow of projects. The P3 industry across all regions can sometimes be turbulent. But after the US and Canada in particular have weathered political upheaval towards the end of last year, we are delighted to showcase three regions that are now entering new stages of maturity and truly giving the market something to be excited about...

With both the conference and Awards ceremony, this is an opportunity to show the best in P3. Which projects have overcome challenges to get over the line? Which companies have shown innovation to help shape the industry? And which individual has helped the forward progress of P3s?

Our panel of 80 expert panellists and 20 head judges had a tough time selecting the winners and again they have awarded a number of ‘silver’ trophies to the strong second places. We are also happy to give feedback on all entries whether they were successful or not so please get in touch if you’d like to see how the judges scored your entry.

But whether or not you are successful this evening, we hope you take the opportunity of raising a toast to the impressive work that we have seen over the last year and enjoy networking with the people who will be shaping the market in 2017.

Good luck to all finalists and we hope you enjoy the evening.

Amanda Nicholls Publisher, P3 Bulletin

Ignacio BarandiaranPrincipalt +1 415 606 6584e [email protected]

John KarnTransportt +1 212 896 3275e [email protected]

For further information contact:

City of Long Beach Civic Center Long Beach, CA

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Brian RenehanEnergy and Utilitiest +1 415 946 1678e [email protected]

Orion FultonSocial Infrastructure and Real Estatet +1 415 946 0599e [email protected]

Jorge ValenzuelaLatin Americat +1 415 926 0484e [email protected]

Alfonso Mendez-LossadaLead Advisoryt +1 415 659 4981e [email protected]

Your award-winning P3 delivery partnerArup is the creative force at the heart of many of the world’s most prominent projects in the built environment and across industry.

Our technical, financial advisory, and design teams deliver integrated, independent deal evaluation, lead advisory, and engineered solutions in fields ranging from energy and utilities to social infrastructure and real estate, and transportation.

In 2015 and 2016, we helped our clients successfully close on US$78.4bn of transactions worldwide. Last year, Arup was proud to receive 2015 Technical Advisor of the Year award from P3 Bulletin.


#P3Awards2016

GOLD AWARDInfrastructure OntarioSince 2005, Infrastructure Ontario (IO) has been assigned over 90 infrastructure projects worth $40bn by Ontario’s government in sectors like transit and transportation, hospitals, courthouses and corrections facilities. IO maintains regular dialogue with associations, service providers, and advisory firms, providing updates on continuous improvement initiatives and consulting with industry representatives through market soundings. IO also utilizes employee expertise in order to facilitate successful partnerships working with the private sector. IO has a good mix of experts in their fields from the public and the private sector. The Eglinton Crosstown Light Rail Transit (LRT), the largest P3 transit project currently underway in Canada, involves the construction of a Light Rail Transit line along Eglinton Avenue in Toronto. This project is being delivered by Infrastructure Ontario in partnership with Metrolinx, the provincial Crown Agency responsible for the integration and management of public transportation in the Greater Toronto and Hamilton Area (GTHA). The Eglinton Crosstown LRT is the biggest expansion of urban rapid transit in the GTHA in more than a half century.Considered to be a model for others to follow, IO was praised by the judges for its impressive track record when it comes to delivery of projects. They were also impressed by the agency’s use of government-issued ‘green bonds’, which was an important first in the Canadian market.

SILVER AWARDSaskBuilds CorporationThe judges felt SaskBuilds deserved credit and recognition for its broad range of innovative projects, and the fact that it has successfully managed such a wide variety of deals. Among its stand-out achievements in 2015/16 was its involvement in delivering the largest infrastructure project in the province’s history, as well as its promotion of a range of firsts that have resulted in important cost-savings on schemes.

Government Agency of the YearShortlist• Agencia Nacional de Infraestructura (ANI), Colombia• The City of Edmonton, LRT Design & Construction Branch,

Canada• Commission for the Promotion of Public Private Partnerships

Honduras (COALIANZA)• Infrastructure Ontario, Canada• Maryland Department of Transportation and Maryland Transit

Administration, USA• PPP Central Unit of Minas Gerais State, Brazil• SaskBuilds Corporation, Canada

Infrastructure Ontario

JudgesSimon J. Santiago Partner, Nossaman (Head Judge)Joe Aiello Partner, MeridiamAndrew Burton Partner, Davis Marv Hounjet Vice President, Plenary GroupAddison Smith Senior Vice President, Sphere Consulting Tariq Taherbhai Senior Director, Aon Infrastructure Solutions


#P3Awards2016

GOLD AWARDPurple Line Light Rail Project, USAPurple Line Light Rail Project, USAThe project is to finance, develop, design, construct, equip, supply light rail vehicles for, and operate and maintain a 16.2-mile light rail transit line in the Washington, DC metropolitan area. It is being procured as an availability based P3 project, with a 30-year concession. The 21-station project’s major objectives are (i) provide better transit options to support existing and future development; (ii) faster transit travel times and enhanced access to regional destinations; (iii) provide better access to jobs and community services for neighborhoods that are highly transit dependent; and (iv) benefits to the environment. The scheme is being funded by a unique combination of a variety of sources, including $860m of Progress Payments from Maryland DOT (MDOT), $313m of Private Activity Bonds, $875m TIFIA loan, and $138m equity contribution from the private partner, among other sources. MDOT’s payments under the P3 Agreement are not limited to any particular source and will be paid from amounts on deposit in its Transportation Trust Fund and will be subject to annual Maryland General Assembly appropriation. The judges considered this groundbreaking project to be a worthy winner in this field, due to its complex structure and effective risk transfer. They also praised the fact that a significant portion of the project is via at-risk sources of financing.

Best Transit and Aviation ProjectShortlist• Edmonton Valley Line LRT - Stage 1, Canada• Eglinton Crosstown Light Rail Transit, Canada• LaGuardia Central, USA• Lima Metro Line 2, Peru• Palmerola International Airport of the Republic of Honduras• Purple Line Light Rail Project, USA

JudgesMike Parker US Infrastructure Advisory Leader, EY (Head Judge) Roger Driskell Acting Director, Office of Innovative Project Delivery, Illinois Department of TransportationTom Gabelman Partner, Frost Brown ToddMathew Kattapuram Senior Vice President, Strategic Business Development, Aecon Group Santiago Klein Managing Director, McBains CooperFrank Rapoport Chief Strategy Advisor, Peckar & AbramsonJF Strayer Director - Project Finance Advisory, Operis


#P3Awards2016

SILVER AWARDEglinton Crosstown Light Rail Transit, CanadaThe judges considered this project to provide a flexible and efficient operating configuration that should be translated into an efficient whole lifecycle cost. They pointed out that the six-year construction period will require extensive coordination, and welcomed the clearly defined risk assessment and risk transfer in the program. This was also among the most complex procurements submitted.


#P3Awards2016

GOLD AWARDKPMGKPMG continues to lead the market in providing P3 advisory services in the Americas Region. In 2015/2016 KPMG US advised on five projects that reached financial close, with a combined transaction value of approximately $2.5bn. This includes two first-of-their-kind transactions – Purdue University’s State Street Redevelopment Project and the Michigan Freeway Lighting scheme. In the former, funding commitments will come from both the University and the City of West Lafayette through the use of a unique TIF financing structure, which enabled the winning consortium to receive a revenue stream related to the enhanced value associated with the property surrounding the project area. The project used two TIFs, one existing with historic revenues, and one new with no existing revenues. In the Michigan scheme, a rigorous value for money analysis was conducted to analyze design, construction, financing costs, long-term operating, maintenance and energy costs.Describing the firm’s contributions to the market as “excellent”, the judges considered KPMG’s breadth of experience, its team and its success in evaluating project feasibility as key factors in the company deserving the Gold Award. They were also impressed by the range of clients that the firm advises, including both key government agencies and major infrastructure sponsors.

Financial Advisor of the YearShortlist• The Bank of Tokyo Mitsubishi UFJ• EY• Goldman, Sachs & Co• KPMG

JudgesMichael Schneider Senior Vice President and Director of Professional Services, HDR (Head Judge)Gregory Ciambrone Senior Managing Director, The Walsh GroupBryant Jenkins Principal, Sperry CapitalMarshall Macomber President, ThinkP3 Maria McKenzie Partner, Farris, Vaughan, Wills & Murphy

LONG-TERM INVESTOR, DEVELOPER AND OPERATOR OF PUBLIC INFRASTRUCTURE.

PLENARYGROUP.COM

US 36 EXPRESS LANES

STATE STREET REDEVELOPMENT PROJECT

Congratulations to the Long Beach Civic Center Project, the State Street Redevelopment Project and the US 36 Express Lanes on being named finalists at the 2016 P3 Awards.

LONG BEACH CIVIC CENTER PROJECT

With 28 projects worth more than $16 billion throughout the United States and Canada, we’re bringing infrastructure to life for government clients and local communities across North America.


#P3Awards2016

GOLD AWARDLong Beach Civic Center & Port Headquarters Project, USAThe project includes the construction of a new City Hall, a new Main Library, a redesigned Lincoln Park, and new headquarters for the Port of Long Beach. The consortium, which includes Plenary Group, Clark Construction, Edgemoor, Johnson Controls and Skidmore, will design, build, finance, operate and maintain the new civic center for 43 years. The Long Beach Civic Center Master Plan optimizes operations and maintenance, maximizes street parking, introduces plazas and promenades, and expands bike infrastructure to create a hierarchy and quality of place. As the first hybrid P3 project to be closed in the US, the project combined an availability payment structure with private development risk within a single project agreement, with Plenary Group providing 100% of the P3 equity and taking full risk on the amount and timing of funding from the private development parcels. The inclusion of private development not only provided a subsidy to offset the cost of the civic components in order to meet the city’s affordability constraints, the private development will also play an integral role in activating the new Civic Center Master Plan.The judges were particularly struck by the use of the hybrid financing model, which helped to increase the value of the deal. Welcoming the many firsts that the project delivered, the judges praised the reduction of risk and removing operating costs for the various municipalities.

Best Social Infrastructure ProjectShortlist• Government Civic Center, Central District, Honduras• International Museum of Baroque Art, Mexico• Long Beach Civic Center Project, USA• Redevelopment of Ohio’s Southern Gateway - The Banks

Project, USA• University of Kansas Central District Development, USA

JudgesChris Guthkelch Project Director, Skanska Infrastructure Development Richard L. Hill Public Finance Practice Leader, Faegre Baker DanielsSallye Perrin Senior Vice President, Strategic Director P3s, WSP | Parsons BrinckerhoffThe Honorable Robert Walker Chief Deputy County Executive, Nassau County, NYJonathan Yellen Managing Director, Morgan Stanley | Investment Banking Division


#P3Awards2016

SILVER AWARDInternational Museum of Baroque Art, MexicoDescribing the project as a bold, pathfinding P3, the judges liked the significant impact on local jobs directly related to construction, but also the social and economic impacts resulting from increased tourism. They considered this project to be an impressive application of P3 model to a relatively new asset class. The flexibility in revenue streams afforded by the contract was also welcomed.


#P3Awards2016

GOLD AWARDAllianz Global InvestorsFollowing the economic crisis, banks were facing tougher requirements with regards to funding long dated debt. At the same time project bonds had almost disappeared following the demise in the monoline industry. Allianz saw a significant supply gap in the market and in 2012 set up one of the first specialised infrastructure debt platforms. Since launching its platform, the firm has invested over $7.5bn in senior investment grade infrastructure debt globally. The 26 transactions are spread across 12 geographies and span a variety of asset classes (from PPP to utilities and renewables). This includes completing four transactions in the US, investing over $1.5bn since expanding to the US in the first-half of 2015. Among those deals were the Long Beach Civic Center, which combines public infrastructure and private development components within a single project; and the 7.8-mile Chicago Skyway, the limited access tolled highway that provides a critical link between downtown Chicago and the surrounding communities.The judges were impressed by the variety and extent of innovations that Allianz had introduced into the P3 model, such as unwrapped bond deals with construction risk. They also wished to reward Allianz for its continued leadership in the funding paradigm shift from banks to institutional investors. They said the firm had made “truly outstanding contributions” to the P3 market in 2015/16.

Debt Provider of the YearShortlist• Allianz Global Investors• Banco Financiera Comercial Hondureña (Banco Ficohsa)• J.P. Morgan• MUFG

SILVER AWARDJP MorganConsidered by the judges to be a major player in the US P3 market, JP Morgan was praised for its “exceptional creativity” in getting deals done and making “the most significant contribution on the underwriting side to P3 transactions” during the period. The firm was also considered to be playing a lead role in developing the P3 model.

JudgesBryan Kendro Vice President – Project Development, Star America Infrastructure Partners (Head Judge)Carlos Afonso Head of Environmental PPP/P3, FCC Environment, InternationalPaul Epstein Counsel, Shearman & SterlingZachary Klein Associate, Pannone, Lopes, Deveraeux and West Ananth Prasad Senior Vice President, HNTB

Risk. Reinsurance. Human Resources.

Aon Risk Solutions

Let Data and Analytics Take Your Firm to New HeightsAon Infrastructure Solutions understands your risks and our colleagues are well-known throughout the global P3 marketplace.

• Currently engaged on 100% of all active civil infrastructure P3s in the US

• Advised on the first fiber optic P3 in the US

• Only broker to be honored with the Gold Award as Best Insurance / Risk Advisor for the Americas two years in a row

For more information about Aon, visit us at aon.com/ais

20044 P3 Awards Ad - 200x200mm - v04.indd 1 10/5/16 3:24 PM


#P3Awards2016

GOLD AWARDNew Champlain Bridge Corridor Project, CanadaSignature on the Saint-Laurent Group (SSLG) is to design, build, finance, maintain, operate and rehabilitate the new Champlain Bridge and related infrastructure. The project has been structured with the objective of allocating risks to the party that is best suited to manage and mitigate them. Any risk of construction delays and costs overruns are borne by SSLG, but are passed down to the construction contractor. SSLG achieved financial close within 65 days of the preferred bidder announcement, representing an efficient closing for the largest Canadian PPP project by financing size. The project team factored the high importance attached to the architecture of the bridge, and developed an innovative process to assess the architectural features in the early bid development stage. This resulted in the development of a ‘definition design’. The project aims to foster sustainable development and urban integration by building a bridge which contributes to the corridor’s status as the premier gateway to Montreal.Praising the presentation of this entry, the judges considered this project to be a noteworthy exemplar for the industry based upon the number of large span bridge projects now being considered in the P3 market. They considered the approach adopted to be excellent in making sure the owner/client has control over the ‘architectural/ aesthetics’ of the project.

SILVER AWARDConexión Pacifico Tres, ColombiaThe judges were impressed by the efficiency of financial close in a very large scale and complex project, which they considered to represent a significant milestone in Colombia’s infrastructure. They also felt that the number of market firsts achieved by this project made it worthy of merit, pointing in particular to the potential for the project to open up the market to US dollar tranches of debt in the future.

Best Road/Bridge/Tunnel ProjectShortlist• Autopistas Conexión Norte, Colombia

• Chicago Skyway Bridge and Toll Road, USA

• Conexión Pacifico Tres, Colombia

• Green Corridor Project, Aruba

• I-285 & SR 400 Reconstruction Project, USA

• I-77 Express Lanes, USA

• New Champlain Bridge Corridor Project, Canada

• North Commuter Parkway & Traffic Bridge Replacement Project, Canada

• Perimetral Oriental de Bogotá, Colombia

• Rutas De Lima Project, Peru

• SH 288 Toll Lanes in Harris County Project, USA

• State Street Redevelopment Project, USA

• Touristic Corredor El Progreso-Tela and Highway Sections San Pedro Sula-El Progreso & La Barca-El Progreso, Honduras

JudgesBen Djiounas Executive Director, JP Morgan (Head Judge)Craig Covil Prinicpal, ArupFilip Guz Investments, InfraRed Capital Partners Michael Pikiel Head of Infrastructure, Mining and Commodities, US, Norton Rose Fulbright Kelly Scherr Director of Major Projects, City of Regina


#P3Awards2016

Sponsor-Developer of the YearShortlist• American Campus Communities• Cintra• EllisDon• Meridiam• Plenary Group• Skanska Infrastructure Development• Star America Infrastructure Partners

GOLD AWARDPlenary GroupPlenary’s project portfolio has grown to $13bn across the continent, including 11 new projects in the last two years alone, with two more expected to reach financial close in summer 2016. The firm has successfully taken its specialized PPP model into the US, where it has achieved project wins in California, Indiana, Pennsylvania, Colorado, and Texas. In April 2016, Plenary closed on the Long Beach Civic Center (LBCC) project, the first successful hybrid social infrastructure P3 in the US, using a structure under which Plenary combined a 40-year availability DBFOM model with private mixed-use real estate development under a single project regime. Plenary employed – for the first time at financial close of a US social infrastructure project – a taxable private placement to take advantage of its competitive pricing, favorable structural features, accommodation of the real estate component, and ability to deliver optimal risk allocation. The judges said Plenary had done an “outstanding job” in delivering successes in the US market and engaging with government officials to advance P3 opportunities and educate the public. Describing the firm as a leader across the social and transportation infrastructure sectors in both the US and Canada, the judges also praised its use of unique structures such as taxable private placement to get projects delivered.

SILVER AWARDMeridiamThe judges wished to recognize Meridiam for the team’s impressive track record on marquee projects over the course of the past year, such as LaGuardia and the Purple Line. They consider the firm to be a leading investor in the P3 market, having demonstrated the ability to execute under challenging circumstances and timeframes. The judges said Meridiam has been “been a consistent force in project development”.

JudgesDavid Utz Vice President, Head of Infrastructure Advisory, Goldman Sachs (Head Judge)David Alvarez Vice-President, CPM HillFlávio Faria Coordenador Geral, Minas Gerais PPP UnitMary Francoeur Managing Director, Assured GuarantyNick Ivanoff President and CEO, Ammann & WhitneyTim Merriweather Managing Partner, Public Private Partnerships, Banister Group

Nossaman — we understand the true meaning of partnership.The most important public-private partnership is the one we have with our clients and other members of the project team. We collaborate with our clients from the earliest stages of project and program planning through procurement, project construction, and beyond. With a proven track record of getting projects closed, our efficient and successful procurement process fosters competition while promoting our clients’ goals.

At Nossaman, we build more than infrastructure. We build partnerships.

nossaman.com/infrastructure

LOS ANGELES | SAN FRANCISCO | ORANGE COUNTY | SACRAMENTO | WASHINGTON, DC | AUSTIN | SEATTLE infrainsightblog.com


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Individual Contribution of the Year Daniel Feitelberg Vice Chancellor, Planning and Budget University of California, MercedDaniel Feitelberg joined the Merced campus of the University of California in December 2012 to establish a new Division of Planning and Budget. Reporting to the Chancellor and the Executive Vice Chancellor and Provost, Feitelberg serves as the campus’ chief financial officer. The Real Estate Services Group facilitates the planning of campus development and leads the Campus 2020 Project. With 13 years of investment banking experience, Feitelberg brings UC Merced significant experience raising debt capital for government clients in the high-grade taxable and tax-exempt markets. In the banking industry, Feitelberg brought a holistic approach to his clients, focusing on enterprise business development issues, as well as financial issues. His approach to investment banking and project finance centered on the principle that good investments must reflect an underlying enterprise that is well designed and developed, efficiently operated and maintained, with an appropriate financial plan and controls. Feitelberg served as the head of JP Morgan’s surface transportation business in the Western United States.

The UC Merced 2020 P3 project reached financial close in 2016, with Feitelberg’s knowledge of the market a vital tool in the university’s armory when negotiating the terms of the deal. The judges considered Feitelberg to be a key champion for the project, who played a critical role in steering the project through the Board of Regents approval process and in managing various internal and external stakeholders.

The Individual Contribution of the Year award is chosen by the head judges


#P3Awards2016

GOLD AWARDSingle-stream Material Recovery Facility at McCommas Bluff Landfill, USAThe design of this recycling facility in Dallas, to be built on land leased to FCC for the duration of the contract, was based on helping the city to meet goals to increase waste diversion to: 40% by 2020, 60% by 2030, and 80% (“zero waste”) by 2040. To do this FCC proposed building an automatic sorting plant using state-of-the-art technology. This will use the latest sorting and classification techniques, including artificial vision, as well as optical and gravimetric sorting machines. The plant will recycle and give thousands of tonnes of paper, cardboard, glass, plastic, metals, etc., produced by the citizens of Dallas, back to the market, thereby returning it to the production cycle. The contract also includes the creation of an education centre where FCC personnel will teach and train the community of Dallas about the importance and benefits of recycling. For FCC, the Dallas plant is one of its first forays into American municipal waste and recycling contracts.The judges were enthusiastic that this project provides a model for the country for waste reduction. They also considered it to be a highly efficient project, providing a strong solution to a potential growing problem in the US. They considered the quality of design and environmental measures to be significant and welcomed the flexibility in the financial structure that allows for an additional 10 years of operation.good risk allocation between the private and public parties, were also highlighted as important features.

Best Waste/Energy/Water projectShortlist• Ergon Peru US$30m Senior Secured Term Loan Facility, Peru• Metro Region Freeway Lighting Project, USA• Recovery of Losses in the Distribution Component of the

National Electric Company of Honduras (ENEE)• Single-Stream Material Recovery Facility at McCommas Bluff

Landfill, USA

JudgesJoseph Seliga Partner, Mayer Brown (Head Judge)Luis Fernando Andrade Moreno President, Agencia Nacional de Infraestructura Christine Chadwick National Senior Director, Infrastructure Solutions, GE (Healthcare) Jay Lindgren Partner, Dorsey & Whitney Jorge Gomez-Perez Associate Director, Leigh FisherNeil Shah Senior Director, Rail & Transit, SNC-Lavalin Operations & Maintenance


#P3Awards2016

Legal Advisor of the YearShortlist GOLD AWARD

Mayer BrownMayer Brown has a proven track record of representing government entities, sponsors, developers and lenders on P3 transactions around the world across all asset types—including roads, bridges, ports, mass transit and social infrastructure—and 2015/16 was no exception. It has represented all sides (public entities, private sponsors, and lenders) in all types of P3 projects (greenfield, brownfield, concessions, availability payments, DB, DBF, DBFOM) and in areas across the Americas (US, Caribbean, Latin America). The firm also expanded the use of P3 in new jurisdictions and to multiple asset classes—roads, transit, airports, ports, parking and social infrastructure. No other law firm has a P3 practice of comparable range, depth and diversity. The firm has helped lead the growth in the market for P3s in the Americas, most recently advising on projects in the US, Jamaica, Aruba, Uruguay, Costa Rica and Ecuador, playing a key role in opening up these markets to the P3 model.The judges felt the firm had all the ingredients required for a good P3 team and had delivered on that potential. Describing it as an “undoubted powerhouse”, the judges welcomed its vast experience across a variety of sectors and geographies. They also lauded its proven track record in supporting those getting projects through to financial close.

SILVER AWARDAshurstThe firm was considered by the judges to have made the step up to advising public sector clients, as well as those in the private sector, thereby giving it claim to a broad coverage of the P3 market. Having been involved in some innovative first in the P3 market, the team has also helped support those that are new to the sector.

• Allen & Overy• Ashurst• Bilzin Sumberg• Dentons Canada• DLA Piper• Durán & Osorio Abogados

Asociados• Fasken Martineau Dumoulin• Frost Brown Todd• Mattos Filho, Veiga Filho,

Marrey Jr. e Quiroga Advogados

• Mayer Brown• Norton Rose Fulbright• Nossaman• Orrick, Herrington &

Sutcliffe• Peckar & Abramson• Shearman & Sterling

JudgesMajid Haquani Head of Management Consultancy Team, Mott MacDonald (Head Judge)Leslie Combs Representative, House District 94, Kentucky LegislatureLisa Mitchell Director, Strategy and Market Development, PPP Canada Bryan Thomas Vice President, JLL


#P3Awards2016

GOLD AWARDAonAon was the risk advisor on 70% of all P3s procured in North America in 2015, including 100% of large civil infrastructure P3 projects. As a highly integrated, multidisciplinary team of advisors, with backgrounds in finance, economics, law, procurement, risk management, engineering, and corporate strategy, Aon Infrastructure Solutions has the ability to consider all stakeholder perspectives, with a significant understanding of efficient and effective risk transfer. The importance of understanding project‐specific risks was highlighted in the development of an insurance program on SR‐202. Upon review of the project agreement, where the public sector took on all risk of loss for certain catastrophic perils, it became clear that an all‐risk property policy provided duplicative protection for the private sector at an unnecessary cost. Aon worked with the markets to manuscript a cheaper named peril property policy that focused solely on risks borne by the private sector. The judges felt that Aon has systematically demonstrated that it understands the client’s project risk and developed effective risk solutions. They praised the firm’s broad reach, both in terms of geography – working across North America, plus Latin American countries such as Honduras, Panama, Colombia, Peru and Mexico – and its sectoral coverage, encompassing transportation and social infrastructure schemes.

Insurance Risk Advisor of the YearShortlist• Aon• INTECH Risk Management• Willis Towers Watson

JudgesSamara Barend Senior Vice President, P3 Development Director, Aecom Capital (Head Judge)Mark Bain Partner, Head of Public-Private Partnerships and Co Head of Infrastructure and Energy, Torys Daniel Filer CEO, Ferrovial Agroman SEFabio Villalba Ricaurte General Sub-Director, Departmento Nacional de Planeacion Victoria Taylor President & CEO, Project Finance Advisory


#P3Awards2016

• AECOM P3 Advisory• Arup• LeighFisher• McBains Cooper Colombia• Mott MacDonald

Technical Advisor of the YearGOLD AWARDAECOMIn 2015 and 2016, AECOM served as Technical P3 Advisors on several historic projects including the first greenfield airport P3 in the US (the LaGuardia CTB Redevelopment Program); the first comprehensive university campus expansion P3 in the US (the University of California Merced 2020 Program); and the first freeway LED Lighting P3 in the US (the Michigan DOT Freeway Lighting System). AECOM utilizes a full project lifecycle approach that employs unique methodologies and lessons learned to deliver P3 procurements in different market sectors to ensure success, regardless of the delivery method. Having participated on over 650 P3s globally, AECOM brings a unique perspective to the market. This has helped clients execute large-scale P3s in aviation, commuter rail, parking, lighting, higher education, water, social infrastructure and surface transportation and continues to open the market to new possibilities at every level of government.The judges considered AECOM to have delivered an outstanding contribution to the progress of the P3 market over the course of 2015/16, in particular with its key lead roles on four “significant” North American projects. The judges suggested that the firm’s roles on projects such as the LaGuardia airport and Purple Line deals are “shaping the US P3 pipeline”.

Shortlist

JudgesAndrew Ancone Managing Director, Macquarie Capital (Head Judge)Ricardo Binnie Senior Associate, Pinheiro Neto Andy Garbutt Principal, Head of Infrastructure, Deal Advisory, KPMG Gregory Hummel Partner, Bryan CaveJF Strayer Director, Project Finance Advisory, Operis


#P3Awards2016

GOLD AWARDPort of Miami Tunnel, USAMAT Concessionaire, also known as Miami Tunnel, was awarded the 35-year P3 deal in 2009. The project includes the construction of twin tunnels underneath Government Cut (Biscayne Bay), widening the MacArthur Causeway and Bridge, and relocating most of the Port of Miami’s roadways to accommodate the tunnel alignment. MAT Concessionaire’s successful “Operation 305” Initiative included innovative and intensive outreach to encourage subcontractors to hire vendors, subs, suppliers and direct employees with a 305 (or 786) local area code. It also involved aggressive follow-up with local businesses, union leaders and key public officials to ensure that the community knew how to apply for jobs. Its biggest event, Operation 305’s Vendor and Supplier Expo, was held at PortMiami in December of 2010 and reached hundreds of local vendors, who were able to pre-qualify and learn more about what opportunities were available in the coming months. The judges considered this to be a pathfinder project whose success had paved the way for further use of the P3 model in Florida. They also welcomed its demonstration of the important social benefits of directing truck traffic through the tunnel and not having to pay a toll.

Best Operational ProjectShortlist• LBJ Express, USA• Logistic Corridor, Goascorán - Villa de San Antonio, and

Tegucigalpa - San Pedro Sula - Puerto Cortés, Honduras• Port of Miami Tunnel, USA• Presidio Parkway, USA• Ron Joyce Children’s Health Centre, Canada• Royal Canadian Mounted Police (RCMP) “E” Division

Headquarters Relocation Project, Canada• South Fraser Perimeter Road, Canada • US 36 Express Lanes Project, USA • Women’s College Hospital Capital Redevelopment, Canada

JudgesDolly Mirchandani Partner, Allen & Overy (Head Judge)Tony Elkins Commercial Director, Cintra US Mike Matheou Partner, Hogan Lovells USNizar Melehani Program Manager (acting), Public-Private Partnership Program, State of California, DOTDaniel Seltzer Director, Project Finance, MUFG


#P3Awards2016

SILVER AWARDWomen’s College Hospital Capital Redevelopment, USAThis project was considered to be a successful and well executed social infrastructure scheme by the judges. They felt it deserved recognition as a project that can show how the P3 delivery method can be utilized to deliver essential infrastructure that the public can benefit from for years to come. They were also impressed with the flexibility in the contract and the ability to manage scope changes during construction.

More than just lawyers

The intellectual rigor of P3/PPP projects demands more than just legal service from lawyers.

No two P3/PPP projects are alike, which is why we come to the table with no pre-conceived ideas about how a deal should be done. Over twenty years of experience working on pioneering P3/PPP deals around the world has taught us to appreciate that although no two deals are the same, every deal can benefit from our experiences on other projects we’ve successfully managed.

We pride ourselves in our unique ability to combine unprecedented asset and sector knowledge with first class legal expertise.

For more information please contact Andrew FraiserT: +1 212 205 7023 | M: +1 646 799 [email protected]

“They were proactive across everything. They understood everything well and focused on the key issues without getting hung up on minutiae.”

Chambers 2016

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Projects Grand PrixWINNERLong Beach Civic Center & Port Headquarters Project, USA This complex project is at the forefront of the nascent social infrastructure P3 pipeline in the US and offers parties an example of how the partnership model can be used to deliver a wide regeneration program to an area. Rather than just focusing on the development of one building, the project will provide the city of Long Beach with a new City Hall, a new Main Library, a redesigned Lincoln Park, and new headquarters for the Port of Long Beach. Its introduction of plazas and promenade, and the focus of the project on the quality of space for users, means that the scheme goes above and beyond the standards for a new building and moves into the territory of wider regeneration. The terms of the contract are also groundbreaking with the deal being

the first hybrid P3 project to be closed in the US, combining an availability payment structure with private development risk within a single project agreement.Described by the judges as an eagerly anticipated follow-up to the long Beach Courthouse P3, this project was considered a stand-out example of how a complex social P3 project can be delivered. They viewed the deal as offering a truly exceptional application of P3 structures to achieve public good across multiple dimensions. The deal’s many firsts across a variety of areas were also recognized by the judges as helping to make this a truly pioneering project.

AIAI is an action-driven, member-led organization made up of the leading minds in the industry, dedicated to moving P3s

forward and strengthening American infrastructure.

Together, we move P3s forward.

www.aiai-infra.org | 516-277-2950 | [email protected]

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TIMOTHY M. RUTTEN OF FLUOR, SPEAKING AT NATIONAL P3 CONFERENCE(AIAI MEMBER SINCE 2012, CHAIR OF THE GOVERNMENT AFFAIRS COMMITTEE)

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BOOK OF THE NIGHT - P3 Awards

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