IFM Investors has moved investment professionals away from its infrastructure team and into its private equity division, as it looks to target larger private equity deals.
The Melbourne-based fund manager confirmed on Wednesday (20 March) that Executive Director Quentin Law had transferred across to the private equity investments team in early 2019. He has been with IFM since 2012 and was responsible for sourcing and executing infrastructure deals, including the Port of Melbourne (pictured).
Law has more than 30 years’ experience in funds management and advisory across a range of sectors including infrastructure, utility, power, water and transport. He had previously held director-level roles at Citigroup, Rothschild, EY and Arthur Andersen.
Former executive director, infrastructure, Michael Thompson, is another who departed the infrastructure team on 28 February.
That team has had a busy few years acquiring trophy assets in Australia, including the New South Wales Ports of Botany and Kembla, and power distributor Ausgrid. Aside from the sale of a small slice of Melbourne toll road Connect East on offer, few large infrastructure assets are being sold in Australia at the moment.
As a result, IFM now mostly targets infrastructure in Europe and the US and is beginning to push into Asia from the Hong Kong office it opened in 2016.
The global infrastructure fund yesterday agreed to acquire the DCT Gdansk port in Poland as part of a consortium and in January acquired oil storage terminals in the Netherlands alongside Vitol. The fund also nabbed a 49% in water management provider FCC Aqualia last October. Meanwhile, the Australian infrastructure fund has not acquired an asset since buying Ausgrid in December 2016.
IFM now has nine offices globally, including those in Zurich and Seoul that opened last year to bolster its fundraising efforts from investors in these geographies.