P3 Sector: Changes in a Developing Market

    View Author December 2015

    The long anticipated wave of public-private-partnership transactions again failed to materialize in 2015. While some projects reached financial close, there were some high profile P3 cancellations, notably the Indianapolis Consolidated Justice Facility, which left market participants bruised.

    On the positive side, 2015 saw a number of innovative non-transportation projects, institutional investors showed increased interest, there are significant projects in the pipeline for 2016, and the Fixing America’s Surface Transportation (FAST) Act was enacted, which provides federal funding for new projects over fiscal years 2016 through 2020, and removes the bar on use of tax-exempt financing for water projects utilizing WIFIA funding.