Dar magazine i11 Page 42

PPP: American Style

Who we are

Project Finance Advisory, Ltd. (PFAL) is a Dar Group member specializing in the field of
public private partnerships (PPP). From our offices in San Francisco, we provide financial
and commercial advice to both government and private sector clients for large scale
infrastructure projects all over the U.S., Canada, and abroad. Our team members have
successfully closed over $100 billion worth of infrastructure transactions, and we are
helping to shape the dynamic and evolving PPP market in the U.S.

For our government clients, we provide a full range of financial advisory services. These
include assessing project feasibility, analyzing the most efficient delivery method,
structuring and running procurements to attract the most qualified and competitive
responses from the private sector, and negotiating terms with private sector partners.

For our private sector clients, we structure and execute debt and equity financing using
project finance principles. We focus on maximizing return on equity without jeopardizing
the bankability of a project and ensuring the long-term stability of a project's financial
structure.

PPPs in the U.S

PPPs tend to divide opinion strongly. To some, they are a panacea to all of America's
infrastructure challenges; to others they are a corporate takeover of important public
assets. In reality, they are neither. A well-executed PPP is simply another tool for procuring
or managing public infrastructure--albeit a new and increasingly popular one in the U.S.

The growing American interest in PPPs can be attributed to a number of factors, including:
a number of successful projects, tightening budgets, projects that are more complex, a
demand for better value for money, the desire to leverage private sector expertise, and
shifting public sector priorities.

Figure 1 Renderings of the
new Central District Campus
at the University of Kansas by
Perkins+Will, the developer
team's architect

Figure 2 By undertaking the
Central District Campus as a
large-scale PPP, the design
of the new facilities could
be considered holistically,
integrating consistent design
concepts and incorporating
increasingly rigorous
performance goals for water
and material use. Many design
decisions were made from
a lifecycle perspective and
included the operator at
the table during the design
process

Author
Victoria Taylor

Expertise
President & CEO

Company
Project Finance
Advisory, Ltd.

Location
San Francisco

Infrastructure public-private partnerships (PPPs) are technically, economically,
politically, and contractually complex arrangements. PFAL's team of experts
represents the highest standard from each of the disciplines needed to
structure a deal that can be financed in the capital markets.

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