Oct 22, 2021
Institutional Investing in Infrastructure Quoted Chris Lloyd and Greg Riegle on P3 Projects
McGuireWoods partner
Gregory Riegle and McGuireWoods Consulting senior vice president
Christopher Lloyd were quoted in the October edition of
Institutional 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 and
economic development, are leaders of a multidisciplinary team of
McGuireWoods lawyers and policy professionals dedicated to assisting
clients with the expected influx of real estate, construction and
infrastructure projects that may arise from legislation related to the
American Jobs Plan.
In the article ̶ titled “Fine tuning: P3 projects have a lot of moving
parts and the details matter” ̶ Lloyd emphasized the role of experienced
advisers to public entities as one of the key considerations in P3
projects. Now considered obligatory, public entities should work with
specialized, well-connected advisers that provide insight on regulatory
hurdles and have credibility to support the procurement process. Lloyd said
an effective advisory team should have a 360-degree view of the market to
address the various facets of the deal. Riegle added, “Stakeholders need an
experienced team to act as Sherpas throughout the process.”
Riegle focused on another core issue: the politics of the project. He said
for most projects, the issues can be predicted and addressed, but there
must be a foundation of support for the initiative. “The facts of the deal
obviously matter and are an important variable,” Riegle noted. “But there
must be basic political navigation, a strong ground game, to secure a base
of support, whether it is corporate, political or the involved community.
This creates a better environment for working through the various issues to
move a project forward.”