AllianceBernstein to launch infra debt business

AllianceBernstein is in the process of building an infrastructure debt platform, it was announced today.

The US asset manager has hired Gerry Jennings, who will take on the role of senior vice president – director of global infrastructure, to establish the new business from its London office.

Jennings will join from Australia’s AMP Capital, where he was one of the founding principals in its infrastructure debt funds. His role involved fundraising, sourcing deals and managing a portfolio of European assets in sectors including utilities, water, gas and electricity transmission and broadcast towers.

Prior roles have included senior manager for private equity at Ahli United Bank and director of leverage finance at Mizuho Leverage Finance. He started his career at HSBC Group.

Jennings will work with the company’s existing investment teams to respond to “the growing demand of institutional investors for opportunities in these assets,” AllianceBernstein said in a statement.

Few details have yet transpired on the eventual structure and remit of the unit, a person close to the matter told Infrastructure Investor.

New-York listed AllianceBernstein is one of the largest publicly traded asset management firms. Formerly known as Alliance Capital Management, it is majority-owned by France’s AXA and has around $443 billion under management.