Electric Power and Other Infrastructure Investments in the United States

主催:K&L Gates外国法共同事業法律事務所、一般財団法人海外投融資情報財団
Thursday, April 23, 2015 14:00h~17:00 at JBIC 9th Floor Auditorium
Sponsored by K & L Gates LLP, Japan Institute for Overseas Investment (JOI)
Supported by Japan Bank for International Cooperation (JBIC)


14:00-14:05 開会挨拶/Introductory Message 

セルゲイ・ミラノフ(K&L Gates 東京オフィス パートナー)
Sergey Milanov, Partner, K&L Gates, Tokyo Office

14:05-14:25 イントロダクション/Introduction and Overview

*Why are institutional investors interested in infrastructure investments?
*How are these investments being made (and what are the challenges investors face)? 

マーガレット・ナイルズ(K&L Gates シアトル・オフィス パートナー)
Margaret Niles, Partner, K&L Gates, Seattle Office

14:25-14:50 ビジネス展望/The Business Perspective

*The business case for long-term institutional investment in infrastructure – types of assets, types of deals, anticipated returns, etc.
*Decision-making process and issues for institutional investors to consider in making an investment
*Infrastructure investments through joint ventures and funds 

エリック・フリードマン(K&L Gates シアトル・オフィス パートナー)
Eric Freedman, Partner, K&L Gates, Seattle Office

14:50-15:25 ストラクチャーと税/Structure and Tax

*Structuring to manage basic rules of US federal and state taxation of non-publicly traded investments by Japanese investors in the United States
*Structuring to manage special rules affecting infrastructure investments
*Taxation of investments in US partnerships that carry on a trading or active business
*Use of Cayman Islands-based entities and other intermediary companies as vehicles for US investment 

チャールズ・パーセル(K&L Gates シアトル・オフィス パートナー)
Charles Purcell, Partner, K&L Gates, Seattle Office

15:25-15:40 コーヒーブレイク/Coffee Break

15:40-16:00 ガバナンス/Governance Issues

*What level of involvement does the investor want to have?
*Issues raised by alternative investment vehicles such as commingled funds; joint ventures and separately managed accounts (“funds of one”); direct investments; and clubs with a limited number of sophisticated investors
*Fiduciary duties of the manager, including duty of care and duty to avoid conflicts of interest

チャールズ・パーセル/Charles Purcell
マーガレット・ナイルズ/Margaret Niles

16:00-16:45 取引のプロセスと規制当局の承認

Transaction Process and Regulatory Approval Considerations
*Qualities that institutional investors seek in electric power infrastructure investments
*Prevailing transaction structures for purchase and sale of interests in electric power infrastructure
*Particular issues that arise in electric power infrastructure M&A transactions, including in performing due diligence and negotiating deal terms
*Regulatory approval issues and processes in electric power M&A transactions
*Case studies of investments by institutional investors in electric power assets, including joint venture investments in natural gas generating facilities, renewable power facilities, and energy technology companies 

エリック・フリードマン/Eric Freedman

16:45-17:00 質疑応答/Q&A

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