Partnership Formation in PPP Networks: The Impact of Social Network Factors Across Sectors and Jurisdictions

Partnership formation among equity investors in Special Purpose Vehicles (SPVs) for Public-Private Partnership (PPP) projects presents a key challenge, especially in multi-sector, multi-jurisdiction contexts. This research investigates the factors influencing these partnerships across six European countries, focusing on road and social infrastructure sectors. Using Social Network Analysis (SNA) and the Multiple Regression Quadratic Assignment Procedure (MRQAP), data from 988 PPP projects were analyzed. The findings show that strong previous collaborations and the closeness of equity partners within the network are critical in forming partnerships. Sponsors that have a history of working together or are connected through shared partners are more likely to collaborate again. The importance of how well-connected and influential equity partner are within the broader network—measured by their connections and role as intermediaries—varies depending on the sector and country. Factors such as sponsor nationality, industry type, and experience also affect partnership formation, though their significance is context-dependent. These results suggest that successful partnerships in PPP networks require tailored strategies that account for both the relational history and network position of sponsors. Future research should investigate how these partnerships evolve over time and how they impact long-term project outcomes.