When Australian financier Babcock & Brown was sunk by the banking crisis four years ago, it almost took Florida’s Port of Miami Tunnel deal down with it. But the French-based fund manger Meridiam Infrastructure threw the project a lifeline in 2009 and secured for itself a place in the U.S. P3 market.

Now, with Europe in retreat on public investments, Meridiam has turned its focus on North America where it sees a near-term pipeline of over 40 greenfield projects that will need a high level of development and project financing expertise to succeed.

In the investment fund world, Meridiam owns that market.