Arjun Infrastructure Partners (AIP) is beefing up its asset management capabilities with the recruitment of Adam Delaney from venture capital investor Scottish Equity Partners (SEP).
Delaney is due to join Arjun in early September, alongside Campbell Lutyen’s Nick Spencer, who has been recruited to head UK fundraising efforts, according to a source close to the situation, adding that two further key hires will follow.
Delaney will be responsible for asset management in utilities, renewables and other areas, the source said.
A spokesperson for Arjun confirmed the appointments but declined to give further details. Delaney and Spencer did not immediately respond to requests for comment.
The expansion of the Arjun team comes as it grows its portfolio in the UK and overseas following its establishment in 2015 by former members of JP Morgan Asset Management’s European infrastructure team. Recent acquisitions include the purchase of Canadian service station business ONroute in consortium with Fengate Capital and a stake in the Westermost Rough offshore wind farm in the UK.
Other recent hires include managing director Julian Skinner, formerly head of risk at energy company EP UK Investments, who joined in May, and partner and general counsel Thomas Laverty, who joined in March from law firm Kirkland & Ellis.
Delaney spent four years at SEP, where he was director of finance and head of asset management at its clean energy infrastructure investment business Environmental Capital Fund (ECF). His move to Arjun will involve him again overseeing Indigo Pipelines, the “last mile” gas distribution company Arjun bought from ECF earlier this year.
Delaney’s role at Arjun will also draw on his experience of managing investments in wind farms in the UK and Ireland. The ECF is now fully divested following the sale of Indigo Pipelines to Arjun and of its onshore wind portfolio to Pensions Infrastructure Platform, also earlier this year.
Spencer was a principal at placement agent Campbell Lutyens, responsible for UK institutional investor coverage.
Other veterans of ECF include Peter Bachmann, who was involved in origination of investments at the fund and is now an advisory board member of Volta Greentech, a provider of feed supplements for reducing methane emissions from cows.
Prior to SEP, Delaney worked at Infrastructure Managers Limited, an Edinburgh-based investor in PPPs in the UK and France.