Are you getting the full picture?


Successful partnerships require a clear insight into the roles of the different options and actors.  Through a series of informative presentations and case studies, this conference will deliver a comprehensive analysis of where PPP Financing stands and how it is likely to evolve.

  • What are the different financial options available for financing PPP/PFI?
  • What are the trends in PPP / PFI financing?
  • How are secondary markets evolving?
  • How to valuate PPP / PFI shares in the secondary markets?
  • What role does Private Equity play in the financing of PPP / PFI?
  • What are the impacts of floating PPP / PFI portfolios?
  • What are the best legal practices for PPP / PFI?
  • What are the risk implications?

This conference will provide a bridge between partners to discuss the options and choices currently made in the financing of PPP /PFI and will set out to clearly explain the role Private Equity.


Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

David Abbott

David Abbott , Assisant Director, Global Infrastructure and Projects Group, KPMG Corporate Finance

9:10 What Options are Available?

John Watt

John Watt, Partner, Government and Infrastructure Advisory, Grant Thornton

  • Reality and myths: the road to financing projects

  • Structures and models

  • New forms of partnership and new models emerging

  • 9:50 Identifying and Structuring a Successful PPP Project

    David Cooper

    David Cooper, Director, Barclays Bank

  • Key components of a successful project
  • Designing a structure in line with needs
  • Detecting weaknesses and pinpointing strength of a PPP project structure

  • 10:30 Morning Coffee

    10:50 Is Risk Understood?

    Andrew Dumbleton

    Andrew Dumbleton, Partner, BDO Stoy Hayward

  • Understanding project risk implications
  • Identifying risk within financing options 
  •  Appropriate allocation of risk

  • 11:30 Financing Though a Non Profit Distributing Organisation (NPDO) or a Scottish Futures Trust

    Michael Stoneham

    Michael Stoneham, Head of Project Finance, Dundas & Wilson CS LLP

  •  Why a Non Profit Distributing Organisation?

  • NPDO structure and governance

  • Concerns and issues

  • PFI/PPP arrangements

  • Contractual terms

  • 12:10 Financing Partnerships in Defence: Building Strong Partnerships – Lessons Learnt

    Richard Nelson

    Richard Nelson, IPT Leader, Project MoDEL, Defence Estates, Ministry of Defence, UK

    12:50 Networking Lunch

    14:00 Considerations for PFI Financing in the Waste Sector

    Melville Haggard

    Melville Haggard, Markets Development Adviser, Department for Environment, Food and Rural Affairs (Defra)

    14:40 Financing with School Improvement: BSF Programme Case Study

    Tony  Benton

    Tony Benton, Assistant Director BSF, Westminster City Council

  • Project key goal and overview
  • Lessons learnt
  • Challenges and recommendations

  • 15:20 Afternoon Tea

    15:40 PFI Partnership in Practise: Lessons Learned – A Public and Private perspective

  • An insight into an operational PFI from both sides of the partnership.

  • Lessons learned – a guide to survival

  • Strategy and flexibility in construction and service delivery

  • Managing variations and expectations

  • Trevor Payne

    Trevor Payne, Director of Facilities, University College London Hospitals - Public Perspective

    Keith Lawrence

    Keith Lawrence, Operations Director, HMU UCLH Project Co

    16:20 PPP and Financing Roads: Case Study – Financial Options, Private Equity and Building Strong Partnerships

    Ken Petch

    Ken Petch, Project Leader, M25 DBFO, Highways Agency

  • Procurment and funding considerations for a very large capital project
  • Trying to achieve contract flexibility with cost certainty
  • Getting the incentives right
  • 17:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Registration & Coffee

    9:00 Chairman's Opening Remarks

    Asad  Khair

    Asad Khair, Associate Director, Global Infrastructure and Projects Group, KPMG Corporate Finance

    9:10 Understanding Issues from the Public Perspective

    David Finlay

    David Finlay, Director of PFI Development, National Audit Office

  • Demonstrating value for money in the pricing of finance
  • The risks and rewards equation
  • Changes in ownership - will this affect the projects?
  • Market concentration: the emergence of the portfolio investor

  • 9:50 What makes Public Private Partnerships and Initiatives Attractive?

    Massimo  Fiorentino

    Massimo Fiorentino, Senior Investment Director, Meridiam Infrastructure

  • Long-term partners in PPP projects  

  • Long-term investment strategy ("buy and hold") offering stable and regular income

  • Risk and returns

  • Trends and future perspectives

  • 10:30 Morning Coffee

    10:50 Finance and Facility Management Partnership: Lessons Learnt and Perspectives

    Steve McDonald

    Steve McDonald, Development Director, Ecovert FM

    Managing the portfolio: respective roles and responsibilities

  • Pre-handover
  • Day to day operations and long term delivery
  • Benchmarking and market testing
  • Response to client's demand for flexibility – variations

  • Adapting to a changing market

  • Changes in partnership
  • Refinancing: options and impact
  • Roles and opportunities in new procurement rules/routes
  • Exporting PFI/PPP know-how
  • 11:30 Insurance for Equity Providers

    Natasha Roberts

    Natasha Roberts, Associate Director, Aon

  • The key insurances for equity providers
  • Structuring the programme
  • The benefits and pitfalls of a portfolio approach insurers appetite
  • Due diligence concerns on portfolios
  • 12:10 Valuing PPP/PFI Private Equity Shares in the Secondary Market

    Jonathan  White

    Jonathan White , Director, KPMG Corporate Finance , KPMG LLP

  • Buyer and seller perspectives
  • Analysis and pricing
  • Key issues when selling in the secondary market
  • 12:50 Networking Lunch

    14:00 Equity Recycling: Rational and Implications

    Robin Herzberg

    Robin Herzberg, Managing Director, Carillion Private Finance

  • Drivers behind PFI equity sales
  • Asset swaps with fellow PFI players
  • Creating ‘tidier’ shareholder structures in individual projects
  • Repackaging of investments to create sector specific units, for subsequent flotation or securitization
  • Impacts of floating the funds
  • What this means in real terms for the projects
  • Trends and future prospects

  • 14:40 Risks for Equity Investors in PFI/PPP Transactions

    Richard Dyton

    Richard Dyton, Partner, Simmons & Simmons

  • Contractual context of equity transactions
  • Associated risks
  • Mitigating risk and ensuring adequate provisions
  • 15:20 Changing Relationship between Equity and Senior Debt

    Glenn Fox

    Glenn Fox, Managing Director, FGIC

  • Equity transfer
  • Value management
  • Re-gearing and re-financing
  • Operational managment
  • 16:00 Chairman’s Closing Remarks and Close of Conference followed by Afternoond Tea


    The Hatton, at etc. venues

    51/53 Hatton Garden
    London EC1N 8HN
    United Kingdom

    The Hatton, at etc. venues


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    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

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    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.


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