1. SOURCING
INFRASTRUCTURE
INVESTORS,
PARTNERS
AND
INVESTMENTS
Industry
expert
advisory
with
InduStreams
June
2012
contact@industreams.com
www.industreams.com

2. Overview
Process
We
advise
on
the
elements
of
Deal
ge?ng
to
goal
quickest
possible
from
scoping
relevant
targets
to
Develop
closing
agreements.
We
don’t
do
elaborate
and
4me
was4ng
analy4cal
work.
Engage
Geography
Focus
We
have
associates
in
many
key
geographies
that
are
able
to
add
+ local
insight
to
the
specific
sector
in
ques4on.
Examples
include
China,
Panama,
Nigeria,
Italy
and
many
East
Asia
Europe
La4n
America
others.
+ Sector
Sourcing
Sourcing
We
advise
primarily
on
the
sourcing
of
investors
and
investments
as
well
Investments
Investors
&
Partners
as
strategic
partnerships.
contact@industreams.com
www.industreams.com

3. China
case:
Investor
perspecCve
Assignment
example
An
investor
is
looking
to
source
port
infrastructure
investments
in
China.
Our
role
Step
one
to
help
the
investor
get
a
market
overview
and
scope
relevant
regions
and
ports
based
on
a
set
of
criteria:
-­‐ Green
field
or
brown
field
-­‐ Investment
size
preference
East
Asia
Europe
La4n
America
-­‐ Bulk,
container
or
oil
sector
-­‐ Individual
terminal
investments
or
partnership
in
the
whole
port
+
-­‐ Etc.
Sourcing
Sourcing
Investments
Investors
&
Partners
contact@industreams.com
www.industreams.com

4. China
case:
Investor
perspecCve
(2)
Focus/scoping
Within
50
prospec4ve
ports
10
port
Deal
projects
have
been
iden4fied
and
shortlisted.
Develop
Engagement
Facilita4on
is
provided
to
engage
in
Engage
the
form
of
advise
on
approach
and
introduc4on
to
relevant
contacts
in
our
network.
Focus
Development
Input
is
provided
to
iden4fy
the
key
value
value
drivers
to
carry
out
valua4on
and
related
analysis.
Deal
Support
is
given
to
set
nego4a4on
strategy
in
a
Chinese
JV
context
as
well
as
facilita4on
to
close
relevant
agreements.
contact@industreams.com
www.industreams.com

5. China
case:
Owner
perspecCve
Assignment
example
An
owner
of
an
oil
terminal
in
Zhejiang
Province,
China
is
looking
to
solicit
investors
and
strategic
partners
from
Europe.
Our
role
Step
one
to
help
the
owner
and
overview
of
the
investor
universe
based
and
scope
relevant
par4es
based
on
a
set
of
preferences:
East
Asia
Europe
La4n
America
-­‐ Investment
proposi4on
-­‐ Funding
requirement
-­‐ Target
investor
role
(opera4onal,
+ financial,
etc)
Sourcing
Sourcing
-­‐ Majority/minority
investor
-­‐ Etc.
Investments
Investors
&
Partners
contact@industreams.com
www.industreams.com

6. China
case:
Owner
perspecCve
(2)
Focus/scoping
For
the
client
iden4fy
30-­‐40
Deal
prospec4ve
European
investors
and
partners
and
shortlist
the
most
Develop
immediately
relevant
(e.g.
5-­‐10).
Engagement
Engage
Facilita4on
is
provided
to
engage
in
the
form
of
advise
on
approach
and
introduc4on
to
relevant
contacts
in
Focus
our
network.
Development
Any
help
needed
to
facilitate
a
speedy
process
on
the
investor
side.
Deal
Support
is
given
to
set
nego4a4on
strategy
in
a
European
fund
context
as
well
as
facilita4on
to
close
relevant
agreements.
contact@industreams.com
www.industreams.com

7. Our
advisory
proposiCon
ü Big
and
diverse
project/asset
owner
and
local
industry
networks
(1,000+
execu4ves
in
the
community
and
increasing)
ü Insight
to
both
the
industry
and
investor
communi4es
allowing
us
to
convey
proposi4ons
accurately
and
with
the
right
context
of
the
poten4al
value
these
have
ü Simple
and
effec4ve
process
to
advise
on
the
key
items
that
maaer
that
maaer
from
market
scoping
through
to
closing
the
deal
contact@industreams.com
www.industreams.com

8. Risk
free
engagement
We
talk
to
new
funds,
investors
and
industrials
every
week
and
as
policy
are
commiaed
to
listening
to
anyone
who
wishes
to
further
explore
the
possibility
to
invest
in
or
seek
investors
for
the
infrastructure
market
–
no
strings
aaached!
Our
primary
objec4ve
is
to
provide
access
to
opportuni4es
that
might
otherwise
not
be
available
to
you
and
your
company.
If
advisory
or
facilita4on
might
be
relevant
to
you
or
your
company
we
encourage
you
to
reach
out
to
any
of
our
representa4ves
or
on:
contact@industreams.com
contact@industreams.com
www.industreams.com

9. Disclaimer
This
presenta4on
is
issued
for
informa4on
purposes
only
and
does
not
cons4tute
an
agreement,
offer,
obliga4on
or
invita4on
to
enter
into
transac4ons
or
investment
business.
With
this
presenta4on,
INDUSTREAMS
LIMITED
does
not
act
in
any
way
as
your
advisor.
This
presenta4on
is
not
intended
as,
nor
should
it
be,
a
subs4tute
for
consul4ng
with
INDUSTREAMS
LIMITED.
Whilst
this
presenta4on
has
been
produced
from
sources
believed
to
be
reliable,
the
informa4on,
views
and
opinions
expressed
in
this
presenta4on
are
provided
as
of
the
date
of
this
presenta4on
and
remain
subject
to
verifica4on,
comple4on
and
change
without
no4ce.
No
representa4on
or
warranty
whatsoever
(whether
express
or
implied)
is
or
will
be
made
as
to,
or
in
rela4on
to,
the
accuracy,
reliability
or
completeness
of
the
informa4on
contained
herein
or
in
the
appendices
to
this
presenta4on.
INDUSTREAMS
LIMITED
will
not
be
liable
towards
you
or
any
third
party
for
any
eventual
damage
you
may
incur,
caused
by
the
informa4on
contained
in
this
presenta4on
and
its
appendices.
contact@industreams.com
www.industreams.com

10. APPENDIX
INVESTMENT
SAMPLES
contact@industreams.com
www.industreams.com

11. Private
oil
storage
terminal
(example)
Principal
purpose
Development
and
opera4on
of
storage
tanks
and
jeay
for
oil,
petrochemical
products
or
other
liquid
cargo
to
service
amongst
others
oil
tankers,
oil
majors,
oil
traders
and
others.
Investment
size
A
smaller
private
facility
of
up
to
500,000
cbm
capacity
could
be
in
an
investment
range
of
$75
to
$100
million.
Target
return
Varies
greatly
from
product
to
product,
type
of
customer
contracts
and
geography,
for
a
private
smaller
facility
in
a
strategic
oil
trading
loca4on
it
could
be
anywhere
from
10%
to
20%+
(IRR).
contact@industreams.com
www.industreams.com

12. Greenfield
container
develop.
(example)
Principal
purpose
Gateway
hub
to
facilitate
the
growing
export
and
imports
to
and
from
a
developing
country
serving
a
cap4ve
local
market.
Investment
size
Substan4al
capacity
of
1-­‐2
million
TEU
as
well
as
general
cargo
berths
with
expected
investment
requirement
above
$500
million.
Target
return
15-­‐20%
IRR
assuming
upfront
securing
of
anchor
tenants
and
reasonable
4me
to
market
from
construc4on
is
ini4ated.
contact@industreams.com
www.industreams.com

13. Port
group
partnership
(example)
Principal
purpose
Consolida4ng
all
container
cargo
ac4vi4es
in
a
new
port
area
to
boost
segment
growth
and
op4mize
port
opera4ons.
Investment
size
A
secondary
port
looking
to
develop
ini4al
smaller
dedicated
facility
with
3
berths
on
700
meters
with
capacity
of
500,000
TEU
could
require
investment
in
range
of
$100-­‐150
million.
Target
return
15%+
IRR
assuming
the
right
entry
price
and
management
structure.
contact@industreams.com
www.industreams.com

14. Government
infrastructure
PPP
(example)
Principal
purpose
Key
marine
infrastructure
such
as
locks
providing
access
to
inner
ports.
Investment
size
$1.0
–
1.5
billion
to
be
invested
for
the
development
and
management
of
the
needed
infrastructure
(likely
to
be
a
consor4um
of
investors,
construc4on
and
other
companies).
Target
return
6-­‐10%
government
guaranteed
IRR
(fixed
payments
done
by
government
on
regular
basis
–
no
commercial
risk).
contact@industreams.com
www.industreams.com

15. APPENDIX
INVESTOR
SAMPLES
contact@industreams.com
www.industreams.com

16. Pension
fund
example
ObjecCves
Pension
and
insurance
funds
typically
invest
to
secure
long
term
stable
returns
(e.g.
5-­‐10%).
Typical
investment
size
Typically
look
to
invest
$100-­‐200
million
as
minimum
per
investment
for
their
own
share
and
therefore
total
investment
size
target
onen
above
$500
million.
Role
and
shareholding
target
Onen
limited
to
that
of
a
“financial”
investor
and
thus
typically
looking
only
to
take
a
minority
posi4on
and
for
many
are
not
allowed
to
have
the
main
managing
role.
Investment
stage
and
In
general
look
for
acquisi4on
opportuni4es
or
constella4ons
whereby
they
mi4gate
holding
period
development
and
commercial
risk
and
look
to
hold
assets
for
long
periods
(30+
years).
Emerging
trends
include
pension
funds
seeking
to
take
ownership
along
side
en4re
port
owners
(landlords)
as
that
further
diversifies
their
risk
across
more
assets.
ProposiCon
to
asset/project
Primarily
bring
lower
cost
of
capital
to
the
table
(can
live
with
lower
returns)
but
also
owners
some4mes
specific
capabili4es
and
global
brand.
contact@industreams.com
www.industreams.com

17. Operator
example
ObjecCves
Operators
and
some
developers
typically
seek
to
grow
their
porqolio
as
primary
objec4ve
and
require
medium
to
high
returns
(e.g.
10-­‐15%).
Typical
investment
size
Most
investment
sizes
are
relevant
ranging
all
the
way
from
$10-­‐20
million
to
above
$1
billion
(although
in
laaer
case
it
might
only
be
a
few
in
the
industry
that
would
want
to
do
that
alone).
Role
and
shareholding
Most
operators
would
like
majority
and
management
and
an
opera4onal
role
onen
a
must
target
have.
Investment
stage
and
Do
green
fields
as
well
as
acquisi4ons
onen
without
any
specific
holding
strategy,
but
most
tend
holding
period
to
just
“hold
on”
once
they
secure
an
investment.
ProposiCon
to
asset/project
Operators
typically
bring
significant
know-­‐how
and
skill
and
some4mes
actual
business
to
their
owners
projects.
contact@industreams.com
www.industreams.com

18. Infrastructure
fund
example
ObjecCves
Many
infrastructure
funds
(including
private
equity
funds)
invest
on
behalf
of
other
funds
(e.g.
ins4tu4onal
funds
such
as
pension
fund)
and
look
to
achieve
strong
returns
over
a
shorter
period
(e.g.
15-­‐20%),
but
are
typically
also
willing
to
take
on
greater
risk.
Typical
investment
size
As
with
operators
such
funds
invest
in
small,
medium
as
well
as
very
large
scale
investments
(substan4al
diversity).
Role
and
shareholding
Many
funds
are
looking
to
take
majority
but
for
most
however
minority
is
also
an
op4on.
Some
target
of
the
more
sector
specific
ones
would
look
to
have
a
strong
opera4onal
role
as
well
whereas
others
would
not
have
opera4onal
capability
or
interest.
Investment
stage
and
Most
constella4ons
and
stages
are
relevant
for
such,
but
acquisi4ons
are
gaining
popularity,
and
holding
period
onen
look
to
hold
the
asset
for
8-­‐10
years.
ProposiCon
to
asset/project
Very
mixed
value
proposi4on
depending
on
the
fund
in
ques4on
but
do
have
the
benefit
of
owners
being
very
focused
(once
they
raise
a
fund
the
money
has
to
be
spent
over
a
short
4me
period
or
the
clients
will
withdraw
the
funds
again)
and
thus
tend
to
work
effec4vely
and
with
urgency.
contact@industreams.com
www.industreams.com

19. Sovereign
wealth
fund
example
ObjecCves
Sovereign
wealth
funds
and
other
government
type
funds
have
many
different
agendas
but
of
course
mostly
to
further
the
interests
of
the
na4on
they
have
been
mandated
by.
Consequently
they
also
operate
on
a
very
wide
return
range
(e.g.
0-­‐20%).
Typical
investment
size
Work
almost
exclusively
with
larger
scale
investments,
most
in
excess
of
$500
million
and
onen
more
than
$1
billion.
Role
and
shareholding
Almost
exclusively
look
for
a
pure
financial
stake
but
may
well
want
extensive
influence.
target
Investment
stage
and
Green
fields
and
brown
fields
are
all
scope,
however
projects
onen
need
to
be
among
key
holding
period
projects
na4onally
or
within
the
region
they
invest
in.
ProposiCon
to
asset/project
Given
the
government
leverage
and
wide
return
spectrum
SWF’s
can
come
with
many
different
owners
kinds
of
proposi4ons
and
some4mes
fit
where
no
others
are
relevant.
contact@industreams.com
www.industreams.com