Law360
February.22.2012
In this Q&A, Energy & Infrastructure Group co-chairman Dan Mathews discusses his career and practice.
Law360: What is an important issue relevant to your practice area and why?
Mathews: In the face of dire budgetary constraints and aging infrastructure, an increasing number of public sector entities have started down the path of employing the public-private partnership (P3) concession model for infrastructure development. But the simple fact is that many P3s that have been launched, or attempted to launch, have been unsuccessful.
Part of the problem has been a lack of political commitment, and part of the problem has been a failure on the part of many entities to fully absorb or accept the compromises necessary to accomplish a successful transaction before launching the bidding process.
This is perhaps to be expected in a relatively immature market — it will not substantially change in 2012. The industry can be expected to continue along a gradual evolutionary path to greater deal certainty, and that in turn will attract more private investors to the sector.