Hermes Investment Management infrastructure partner Hamish de Run resigned from the UK fund manager last month, InfraNews can reveal. De Run is understood to have left the business in mid-March to pursue interests outside the sector, sources said.
De Run is understood to have left the business in mid-March to pursue interests outside the sector, sources said.
He joined Hermes Investment Management in 2012 and actively worked on Hermes Infrastructure’s investments in Thames Water, Southern Water, Eurostar and Fallago Rig.
De Run held directorships in Hermes portfolio companies Eurostar, Southern Water, Braes of Doune and A Shade Greener.
He has been replaced by infrastructure partner Robert Wall on the board of Braes of Doune and Southern Water and by Hermes finance director Karen Sands on A Shade Greener and non-executive director Susanne Given in Eurostar.
It is understood that Hermes will not seek to hire a direct replacement for Mr de Run’s position.
Hermes Infrastructure is led by Peter Hofbauer and partners Perry Noble and Robert Wall.
Hermes launched a GBP 1bn fundraising process for Hermes Infrastructure Fund II in January.
The 18-year fund offers investors both a core and value-add investment strategy and can invest over a five-year period in social infrastructure, renewables, utilities, midstream energy and transportation assets in the UK.
In March a consortium comprising Hermes first infrastructure fund reached financial close on the acquisition of a 61% stake in National Grid’s UK gas distribution business for GBP 5.4bn.
It is understood that following the transaction Hermes GPE Infrastructure Fund is now substantially deployed.
Hermes held a GBP 1bn final close of its first infrastructure fund in April 2015. Hermes also manage a GBP 2bn managed account for the BT Pension Scheme to invest in UK infrastructure.