Ernst & Young appoints new Oceania Infrastructure Leader
Friday 8 March 2013 — Ernst & Young has announced the appointment of Sydney partner David Larocca as its Australia and Oceania Infrastructure Advisory Leader.
He replaces Bill Banks who recently assumed the Global Infrastructure Leader role for Ernst & Young.
Ernst & Young is a leader in infrastructure advisory services in Australia and around the world, working with both public and private sector organisations in optimising transaction outcomes on major infrastructure projects.
Plaudits in 2012 include:
- Ranked #1 globally by Dealogic and Project Finance International magazine for the number of deals closed
- Ranked #1 globally by Project Finance International magazine for advisory mandates won
- Ranked #1 globally by Infrastructure Journal for mandates closed
Ernst & Young’s Australia and Oceania Infrastructure Leader David Larocca says this reflects the breadth and depth of expertise at Ernst & Young locally and around the world.
“Both public and private sector clients are operating in a global infrastructure market. Increasingly construction companies, investors and operators involved in the delivery of infrastructure projects are looking for opportunities outside their home markets,” says Larocca.
“We are seeing unprecedented interest in Australia from international players because it is a relatively mature market with a good legal framework, and it is offering projects that provide opportunities for new players to bring unique skills to the table.”
“On the public sector side, we are also seeing interest across all jurisdictions across Australia and New Zealand to increase private sector involvement in infrastructure projects. With many overseas infrastructure markets relatively subdued, this means Australia has a fantastic window of opportunity to deliver infrastructure requirements – but to do this, the market needs a stronger and more consistent pipeline of committed projects to attract this competition.”
Larocca says while there are a number of committed public infrastructure projects, there are a number of big projects hinging on Federal funding.
“There is strong private sector interest in financing these projects, but the lack of funding sources is stalling infrastructure development. User pay models – with appropriate risk allocation – offer the opportunity to close the funding gap, but until there are greater funding commitments by all governments, these projects will not happen,” he says.
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