The final article in this three-part series examines one of the last remaining justifications for private finance: the claim that lenders and equity investors bring additional rigour to infrastructure delivery. It asks what risks debt and equity are actually scrutinising in modern availability-based PPPs and whether that additional oversight justifies the additional cost of private finance.

Part 1 of this three-part series explores whether the most valuable features of a PPP — whole-of-life optimisation, performance-based payments, lifecycle planning and handback accountability — can be replicated without private finance. It proposes an O&M-First procurement model that brings operational expertise into the design process from the outset, enabling owners to capture many PPP benefits through an owner-funded delivery model.

Part 2 of this three-part series asks whether a privately financed SPV is really necessary to integrate design, construction and operations. It introduces a Tripartite DBOM model under which the Owner, D&C contractor and O&M contractor become parties to a single contract that allocates interface risk, documents operational and lifecycle dependencies, and creates accountability for whole-of-life outcomes.

Queensland faces a once-in-a-generation opportunity—and challenge—in delivering the infrastructure for the Brisbane 2032 Olympic and Paralympic Games. Public funding is currently planned to cover expected capital costs, but additional funding will likely be needed. Public–Private Partnerships (PPPs) offer a proven model to not only mobilise private capital, but also share delivery risk and embed whole-of-life thinking into projects. This article explores why PPPs should be part of the strategy and identifies the most promising project candidates.

Is Australia’s PPP model dying? What can providers of private finance do to revive it?

The Alliance PPP model brings collaborative contracting principles into the PPP framework, replacing adversarial “buyer-seller” dynamics with shared risks, shared rewards, and shared governance. Ideal for complex projects that involve integrating multiple systems. Discover how this model could put the “partnership” back into PPPs.

The Partnership-led PPP model shifts power away from construction contractors and puts government, operators and investors at the centre of decision-making. By aligning long-term interests, it promises better-designed assets and real value for money — but not without risks for government. Read more on how the model works, its pitfalls, and how to manage them.

Mark Moseley of Moseley Infrastructure Advisory Services asks whether the PPP model is better suited to emerging markets.

This article—the second in a series that reflects on Australia’s privately financed PPP market—considers how infrastructure equity investors and project financiers can enhance their value proposition.

PPPs are declining in Australia. Their value proposition isn’t cutting through. This article—the first in a series that reflects on Australia’s privately financed PPP market—critically examines the PPP value proposition. It strips away benefits that can be achieved without private finance and focuses only on the unique sources of value that PPPs actually provide.

Partnership Bulletin article on the state of the Australian PPP market, drawing on commentary from Owen Hayford and other market participants.

The ACT Government has released a report detailing many benefits delivered by the Canberra Light Rail project. But whether the project is on track to deliver the benefits forecast in the business case remains a mystery.

Summary of interview with Stanford University’s Carter Cassidy on the findings of his academic research into the performance of PPPs around the globe.

Owen Hayford was interviewed by The Australian Financial Review for this feature article on PPPs

Infralegal was recently asked to share its insights on the state of the Australian PPP market with an international project finance publication. Here is an edited version of our responses to their questions.

The number of Australia PPP deals since 2015 indicates government interest in the PPP model is declining. This paper and presentation consider the underlying reasons for this, and what governments and equity investors can do to reinvigorate government interest in utilising private capital to deliver public infrastructure.

Owen Hayford was recently invited to deliver a presentation at the University of Technology Sydney on risk allocation and PPPs. You can access Owen’s presentation via this blog

There are significant opportunities to improve dispute resolution processes on PPP projects

There is broad consensus that the PPP model is serving Australia and NZ well, but many areas for potential improvement remain, including…

How to create a PPP contract using the NEC4 suite