P3: An Innovative Solution to Our Infrastructure Needs
A Call Featuring Mark Morehouse, Managing Director of P3 Investment Banking, and Jane Ross, Managing Director of Investment Banking at Oppenheimer
In this episode,"P3: An Innovative Solution to Our Infrastructure Needs," Mark Morehouse, Managing Director of P3 Investment Banking, and Jane Ross, Managing Director of Investment Banking at Oppenheimer, discuss U.S. infrastructure concerns and Public-Private Partnerships (P3)—how these transactions work, and how investors can participate.
Subscribe to listen to the full episode which is available on Spotify, Apple Podcast, or Google Podcast.
Episode Highlights Include:
What is P3?
Public-Private Partnerships (P3) are an alternative method to delivering public infrastructure involving a private investor who designs, builds, finances, operates, and maintains a public infrastructure project under a long-term contract. Today, P3 is relevant in the transportation industry, which includes bridges, tunnels, parking, and transit; water and wastewater projects, and more.
America, P3, and a New Way of Thinking
While P3 is known and well-used worldwide, P3 is only considered innovative in the United States. In Europe, 75% of airline passengers pass through privately owned or operated airport facilities. In Latin America, that number is 60% and in Asia, it's 45%. But in the US and Canada, it's less than 1%. These statistics reveal a tremendous opportunity in the US for the government and investors too.
4 Reasons Why a Public Entity Considers P3
There are four broad reasons why a public sector entity would consider P3:
1. The availability of private sector capital.
2. Opportunity for risk transfer.
3. Private sector responsibility for ongoing maintenance
4. Access to global expertise and best practices
About our Guest
Mark Morehouse is a Managing Director at Oppenheimer, responsible for P3 advisory and capital raises in the transportation, social infrastructure, and water sectors. He brings over 20 years of experience to this industry analysis.
Join the Conversation
Tell us what you want to hear. Oppenheimer's Let's Talk Future podcast series invites engaging conversations surrounding the markets, innovations, and life in general. Leave a review on our Apple Podcast Platform or let us know what interests you by writing to Oppenheimer's Marketing Department at marketing@opco.com.
This podcast is the property of Oppenheimer & Co. Inc. and should not be copied, distributed, published or reproduced, in whole or in part. The information/commentary contained in this recording was obtained from market conditions and professional sources, and is educational in nature. The information presented has been derived from sources believed to be reliable but is not guaranteed as to accuracy and does not purport to be a complete analysis of any strategy, plan, security, company, or industry involved. Opinions expressed herein are subject to change without notice. Oppenheimer has no obligation to provide any updates or changes. Any examples used in this material are generic, hypothetical and for illustration purposes only. All price references and market forecasts are as of the date of recording. This podcast is not a product of Oppenheimer Research, nor does it provide any financial, economic, legal, accounting, or tax advice or recommendations. Any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed.
Securities and other financial instruments that may be discussed in this report or recommended or sold are not insured by the Federal Deposit Insurance Corporation and are not deposits or obligations of any insured depository institution. Investments involve numerous risks including market risk, counterparty default risk and liquidity risk. Securities and other financial investments at times maybe difficult to value or sell. The value of financial instruments may fluctuate, and investors may lose their entire principal investment. Prior to making any investment or financial decisions, an investor should seek advice from their personal financial, legal, tax and other professional advisors that take into account all of the particular facts and circumstances of an investor's own situation. The views and strategies described may not be suitable for all investors. This report does not take into account the investment objectives, financial situation or specific needs of any particular client of Oppenheimer or its affiliates.
This presentation may contain forward looking statements or projections regarding future events. Forward-looking statements and projections are based on the opinions and estimates of Oppenheimer as of the date of this podcast, and are subject to a variety of risks and uncertainties as well as other factors, including economic, political, and public health factors, that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and projections. Past performance does not guarantee future results.
The performance of a benchmark index is not indicative of the performance of any particular investment; however, they are considered representative of their respective market segments. Please note that indexes are unmanaged and their returns do not take into account any of the costs associated with buying and selling individual securities. Individuals cannot invest directly in an index.
Oppenheimer Transacts Business on all Principal Exchanges and Member SIPC 4663298.1