Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Australian giant puts infrastructure trust on ice after third key exit

Australian giant puts infrastructure trust on ice after third key exit

Infrastructure giant AMP Capital has put the launch of a listed infrastructure trust on hold indefinitely following the departure of debt principal Richard Lane.

His exit follows the departures of Tom Walker, AMP Capital's deputy head of global listed real estate, and Hugo Machin, the firm's head of European listed real estate, who both joined Schroders' newly established Global Security Properties team last month.

The Australian firm, which has more than $131 billion (£78.5 billion) under management, was for the closed-ended Infrastructure Debt Fund.

The vehicle was intended for launch in the first half of this year on the London specialist funds market, as a feeder fund for the existing AMP Capital Infrastructure Debt Fund II, which raised $303 million at launch last August and now has $750 million in assets.

But the departure of Lane, who had been at AMP Capital since 2010, has delayed the launch indefinitely. 

'Richard Lane, infrastructure debt principal, has decided to leave AMP Capital to pursue another opportunity. A global recruitment search is underway for a replacement but in the meantime Richard’s responsibilities have been assumed by the other team members in the London office, with support from the Global Infrastructure Debt team and continued access to the breadth of resources at AMP Capital,' a spokesperson said.

'Following strong interest in AMP Capital’s Infrastructure Debt Fund II (IDF II), we have been focused on larger institutional investors that can invest in the fund directly.

'Plans for a listed vehicle, which would have made IDF II available to a wider group of institutional investors, are currently on hold. We may revisit this approach depending on market conditions and investor appetite,' a spokesperson added.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Play Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Sophie Earnshaw talks through what Xi Jinping's 'new era' means for investors. and why Chinese tech offers some of best growth stocks in the world.

Read More
Your Business: Cover Star Club

Profile: JM Finn on why the future is with financial planners

Profile: JM Finn on why the future is with financial planners

There is a lot of work on pension consolidation and Sipps have been a big driver there, says JM Finn chief executive

Wealth Manager on Twitter