Aus & NZ: Hastings people snapped up

28 September 2018 - 12:00 am UTC

Andrew Faber, the former head of origination at Hastings Funds Management and four other Hastings people, have found a home at First State Super (FSS) following Hastings’ demise.

The team is just a few of the Hastings employees that jumped quickly to new roles after Hastings stopped all business in Australia following the takeover of the last large fund it managed, Utilities Trust of Australia (UTA), by HRL Morrison on 1 July. 

UK fund manager Northill Capital bought the mainly UK and US based debt and equity investing business of Hastings last year after Hastings’ loss of the UTA mandate and renamed it Vantage Infrastructure.

Former leaders of Hastings Australian origination team, Faber and Ilan Sadeh, assisted First State Super on its AUD 2.89bn (2.08bn) successful bid for the Victorian land titles concession, which reached financial close on 27 September.

The team is now understood to be managing the transition and separation of the registry from the government for FSS. They may also be called upon to do further work for FSS in future.

Other ex Hastings people moving to new roles include Jane Park, a former investment director in Hastings global equities team. At the end of October she is moving to become executive general manager, finance at Capella Capital.

Others who arrived in new roles in July and August include the former deputy portfolio manager of The Infrastructure Fund, Nick Riordan.

He left at the end of July and has moved from Melbourne to Singapore to be an investment director at Surbana Jurong Capital.

Hastings’ former head of investor relations, Simon Ondaatje, is now a business development strategy consultant at Placer Property.

Andrew Fellowes, Hastings’ former head of asset management for unlisted infrastructure left in early August. He is understood to be taking some time off and is considering several roles.

Richard Barresi, a former director at Hastings, also departed in July and is now an executive director at Moelis Australia.

Cameron McDonald, the former deputy portfolio manager of UTA, became a senior research analyst at Evans & Partners in July.

Other moves include Brian Hayne, a former senior associate at Hastings, who is now an investment banking associate at Citi.   

Earlier departures included Hastings’ ex head of Asian operations, Grant Dooley. In April he became CEO of ARA Asset Management’s new infrastructure arm based in Singapore. In January, Kanishk Bhatia, also joined ARA from Hastings. He is now responsible for origination of investments across Asia.

Ryan James, a former analyst at Hastings, left at the end of last year to join Gardior, the trustee for The Infrastructure Fund (TIF) after TIF dropped Hastings as its manager. He recently left there to join RBC Capital Markets as an analyst.

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