Institutional Investing in Infrastructure Quoted Chris Lloyd and Greg Riegle on P3 Projects

October 22, 2021

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McGuireWoods partnerGregory Riegle and McGuireWoods Consulting senior vice presidentChristopher Lloyd were quoted in the October edition ofInstitutional Investing in Infrastructure on the many considerations when forming a public-private partnership (P3)for an infrastructure project in the United States.

Riegle and Lloyd, McGuireWoods Consulting’s director for infrastructure andeconomic development, are leaders of a multidisciplinary team ofMcGuireWoods lawyers and policy professionals dedicated to assistingclients with the expected influx of real estate, construction andinfrastructure projects that may arise from legislation related to theAmerican Jobs Plan.

In the article ̶ titled “Fine tuning: P3 projects have a lot of movingparts and the details matter” ̶  Lloyd emphasized the role of experiencedadvisers to public entities as one of the key considerations in P3projects. Now considered obligatory, public entities should work withspecialized, well-connected advisers that provide insight on regulatoryhurdles and have credibility to support the procurement process. Lloyd saidan effective advisory team should have a 360-degree view of the market toaddress the various facets of the deal. Riegle added, “Stakeholders need anexperienced team to act as Sherpas throughout the process.”

Riegle focused on another core issue: the politics of the project. He saidfor most projects, the issues can be predicted and addressed, but theremust be a foundation of support for the initiative. “The facts of the dealobviously matter and are an important variable,” Riegle noted. “But theremust be basic political navigation, a strong ground game, to secure a baseof support, whether it is corporate, political or the involved community.This creates a better environment for working through the various issues tomove a project forward.”