Last modified: Wednesday, October 31, 2012
IU retains Goldman Sachs as financial advisor to evaluate privatization options for parking
FOR IMMEDIATE RELEASE
Oct. 31, 2012
BLOOMINGTON, Ind. -- Indiana University has engaged the investment banking firm of Goldman Sachs to provide financial advisory services in support of the university's evaluation of public-private partnership opportunities for its parking operations on the Bloomington and Indianapolis campuses.
The university has been examining the issue of whether to seek a private-sector partner to operate its parking facilities on the Bloomington and Indianapolis campuses since early this year. Goldman Sachs has been retained at this time to assist the university in developing a strategic plan for such a public-private structure and to analyze the economics of privatizing the parking operations on both campuses to determine whether the university should proceed with requesting proposals from private vendors.
Should the university decide to solicit proposals, Goldman Sachs will assist in evaluating the responses to those proposals. The university's engagement with Goldman Sachs on this matter is expected to last six to nine months, depending on the decision to pursue a privatization agreement.
"Goldman Sachs brings established expertise in this type of matter, and IU is looking forward to working closely with the firm as the university determines the best course of action for the university, our employees and our students as it relates to parking on the Bloomington and Indianapolis campuses," IU Treasurer MaryFrances McCourt said. "The university has taken a comprehensive and judicious approach to this issue from the beginning, and this is the latest step to ensuring that all the facts are in hand so that the university can make an informed decision."
Goldman Sachs has a market-leading infrastructure advisory practice and has been involved in key concessions including the Chicago Skyway, Indiana Toll Road, Denver Regional Transportation District, Puerto Rico PR-22 and PR-5. This government advisory experience, coupled with university financing expertise, makes Goldman Sachs uniquely positioned to assist with this important assignment, McCourt said.