Two members of the Arcus Infrastructure Partners team have left the firm after spending a decade at the London-based manager.
Francesco Nale, a partner at Arcus and one of the founding members of the team in 2009, has left after the group sold its stake in Euroports. Nale was the investment manager for the asset, held alongside Brookfield and Antin. He was previously responsible for executing and manging investments for the Babcock & Brown European infrastructure team, which became Arcus in 2009.
Elena Cataldo, an investor relations director, has also left the manager after joining at inception in 2009. Cataldo also used to work in the Babcock & Brown European infrastructure team. At Arcus, she was responsible for reporting to investors and capital raising.
A spokesman for the firm confirmed the duo’s departures and said they had decided to return to their native Italy. He added there are no plans to replace them.
Arcus continues to fundraise for its Arcus European Infrastructure Fund 2, which was launched last year with a target of €1.25 billion. The European Investment Bank approved a commitment of up to €125 million to the fund, which is targeting net returns between 10 and 15 percent, according to pension fund documents. The spokesman confirmed that neither departure triggers any key-person clause for fundraising.
The fund has so far made two fibre broadband investments, acquiring E-Fiber and Swiss4net in the Netherlands and Switzerland, respectively.