Sydney-based fund manager AMP Capital has elected to no longer have a global head of infrastructure based in its home market of Australia, meaning that the current occupier of the position, Scott Davies, will leave the firm by the end of the year.
The decision arises from the increasing internationalisation of the firm, including a big push into Europe. It has appointed London-based Boe Pahari to the newly created role of global head of infrastructure equity. A statement said the role was created “to sharpen AMP Capital’s focus on the significant investment opportunities in the northern hemisphere”.
Pahari, currently head of infrastructure for Europe and the Americas, will join the firm’s leadership team and will assume responsibility for the Australian and Indian infrastructure equity teams. He was instrumental in the recent launch of AMP Capital’s Global Infrastructure Fund, which saw the conversion of an open-ended vehicle into a closed-ended one which offers exposure to $750 million of assets, with the aim of raising an additional $1.25 billion.
Sydney-based Andrew Jones, global head of infrastructure debt at AMP Capital, has also been promoted to the AMP Capital leadership team. All leadership team members report directly to Stephen Dunne, the firm’s chief executive officer.
“We are investing in the areas where we see the greatest opportunities to support our growth,” said Dunne in the statement. “The changes we’re making will ensure AMP Capital is aligned internally as well as to external market forces in order to deliver for our clients as we continue to expand and internationalise the business.”
A further change sees executive general counsel Prue Milne stepping down in February next year, with current senior legal counsel, Yen Hui Tie, taking on the role of head of legal.
A spokesperson at AMP Capital had no comment on Davies’s plans but said he was leaving with the firm’s best wishes.