The US P3 sector continues to be sluggish, with pirate sector participants and finance providers chasing a relatively limited number of projects. On the positive side:
- Over the last 12 months several innovative non-transportation projects either reached financial close or saw procurement progress, arguably a sign of a maturing market.
- A few projects with uncertain futures have moved forward, notably Maryland’s Purple Line project.
- Institutional investors demonstrated increased interest in P3 projects by financing or acquiring P3 assets.
- P3-friendly legislation was passed (including the Fixing America’s Surface Transportation (FAST) Act) which should facilitate more P3 projects in 2016 and beyond.
Our US P3 Market Update, published with Practical Law Finance, analyzes the current state of the US P3 sector, as well as recent important federal legislative developments, and provides a description of project procurements on a state-by-state basis.