ARA rounds out infra team with former Macquarie exec

Frederic Devos is the latest addition to the new unit, which includes former Hastings CEO Andrew Day.

Five months after hiring its first senior investment professional, ARA Infrastructure has tapped Frederic Devos to lead its asset management strategy.

Devos, who assumed the role on 1 August, is based in Singapore and reports to ARA Infrastructure chief executive Grant Dooley.

Most recently chief executive of independent power producer Asian Power Development Partners, Devos also spent four years at Macquarie Capital as global head of portfolio management, where he had direct oversight of its $2.2 billion global investment portfolio. “In this role, he led a significant review and the subsequent restructuring [of the portfolio], resulting in asset outperformance,” an ARA spokeswoman told Infrastructure Investor.

In his 25-year career, Devos has also held senior positions at French water company Veolia, including as chief executive of Veolia Water UK, Ireland and Northern Europe.

ARA Infrastructure has been steadily building its investment team. In March, it hired Kanishk Bhatia as head of infrastructure investment for Asia and, a month later, Dooley was appointed chief executive. Both joined from Australian fund manager Hastings, currently in the process of winding down in its home country. Hastings’ non-Australian business, which was acquired by Northill Capital, has been rebranded Vantage Infrastructure.

Former Hastings chief executive Andrew Day has also emerged at ARA Infrastructure. According to the firm’s website, he is senior advisor, telecommunications.

The firm is looking to begin fundraising in September, Dooley told Infrastructure Investor in a recent interview. He declined to disclose details other than to say that the strategy would include investments in Asian infrastructure.