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Asset Management

Specialised service of PPP management solutions, for individual project as well as portfolios of projects, adapted in each case to the needs of the client, as well as the type and sector within which the project takes place, with the aim of protecting and enhancing the value of the asset.

A3I offers a wide range of services, including advice focused on specific activity of the asset to full Special Purpose Vehicle (SPV) management services, for both individual or a project portfolio.

SPV management intervention by participating in the Board of Directors. The role of the Project Executive is to act both as a executive or non-executive Director on SPV Boards representing the interests of shareholders.

  • Identify risk and associated value issues, by ensuring the target yield of the shareholders in the project.
  • Ensure that project objectives are achieved.
  • Reporting to Investors on all aspects of contractual delivery.
  • Management of contractual disputes (claims, re-balances, shareholders’ agreements)

The approach to the provision of financial and administrative management focuses on the underlying contractual obligations and shareholder’s objectives:

  • Establishing a sound working relationship with shareholders, debt providers, public sector counterparts, operational teams as well external advisers.
  • Control and updating of the financial model on the basis of the variations that may take place during the project cycle, as well as negotiation with financial entities (waivers).
  • Providing real time monitoring and reporting to the shareholders within the time limits set, with administrative and financial back-office of the complete project documentation.
  • Administrative and accounting management of the SPV. Collaboration in audit procedures.

The proven track record of A3I’s main consulting area of asset management allows for highly qualified management of operational and technical services for PPP Projects:

  • Close monitoring of construction, as well as contract reviewing (design and EPC) and control of schedules and costs of the project.
  • Monitoring of the Opex and Capex during the operation phase. Variation management. Analysis and valuation of the variations.
  • A focal point for proactive risk management and value enhancements opportunities in costs. Contract negotiation.
  • Quality and availability control. KPI indicators.
Advise

Structuring & Development of PPP Projects

A3I team are expert at developing  economic and financial activities related to structuring, bidding and the operational management of infrastructure projects under PPP schemes. This allows A3I to act as reference financial advisor for both private clients and Public Administrations throughout every stage of the development of a PPP Project:

  • Structuring: economic & financial feasibility.
  • Operation: financing and/or re-financing, as well as re-balancing processes of the contracts.
  • Divestment: Sale & Purchase proceedings.
  • Supporting analysis for provision of infrastructures and public services: cost-benefit and Value for Money analysis.
  • Development of economic-financial plans and drawing-up feasibility studies.
  • Drawing-up financial tender documents for PPP Projects.
  • Support in developing financial tasks for submission proposals in public tendering processes.
  • Financing strategy advice and seeking potential lenders.
  • Definition and negotiation term-sheets for projects funding.
  • Models for monitoring and operational control during the operation phase of SPVs.
  • Financial progress monitoring for the projects, through the economic and financial plan in force supervision, potential risks identification and proposing recommendations.
  • Definition and valuation of the impact on re-balancing and contract termination proceedings in PPP Projects.
  • Monitoring of the Base Case model built up for projects financing.
  • Advice in Sale & Purchase of PPP Projects: sale/purchase value assessment and valuation model.

Organization, co-ordination and comprehensive advise in divestment processes:

  • Compiling a list of potential investors, NDA-Teaser preparation and presentation of the project. Non-disclosure agreement (NDA).
  • Target timetable: due diligence, site visit, non-binding and binding offers, exclusivity period and transaction closing.
  • Preparation of the project Infomemo and Data room for investors assessment.
  • Receipt of proposals and classification of bidders (Preferred & tentative bidder). Support in drawing-up the binding offer.
  • Transaction closing co-ordination: SPA contract and conditions precedent.
  • Monitoring of the construction process: procedures, co-ordination of agents involved and monitoring the progress of the works.
  • Project technical review and analysis of main contracts (design, EPC, etc).
  • Approved budget control: identification of deviations and formulating solutions.
  • Scheduling control, adjustment to the project reality and risks and floats identification.
  • Variations and claims management. Procedure definition and responsible person identification.
  • Detection of incidents and deviations.
  • Periodic and updated information. Monitoring reports, special reports and final report.
  • Documentary control.
  • Follow-up of availability and quality indicators.
  • Technical Due Diligence in tendering, financing, Sale & Purchase proceedings:
    • Project status, overall situation and main risks
    • Cost analysis and budget assessment
    • Scheduling assessment
    • Technical design assessment
    • Legislation, permits and licenses
    • Contractual situation analysis
  • OPEX/CAPEX analysis and projections.
  • Drawing up Technical Specifications Document and Technical Offices.
  • Operating model review.
  • Analysis of key performance indicators (KPI).
  • Availability analysis and payment mechanisms.