Andrew Charlesworth, a co-founder of the UK-based John Laing Infrastructure Fund, will leave the company next week, it confirmed to the market today.
The listed fund said Charlesworth has informed the firm of his desire “to pursue opportunities in the global infrastructure market” and wished him well for the future. JLIF did not state what Charlesworth’s new role would be and Charlesworth had not responded to requests for comment by press time.
Charlesworth joined John Laing Investments in March 2007 and was instrumental in launching the fund in 2010 alongside David Marshall, who retired from his role in April 2015. After initially raising £270 million ($351.2 million; €314.5 million) on the London Stock Exchange, JLIF’s portfolio is now valued at £1.2 billion across 62 projects.
“We wish to thank Andrew for his contribution to the success of the company,” said Paul Lester, chairman of JLIF. “He has been involved in leading the investment advice to JLIF from its launch in 2010 to a business now valued at over £1 billion.”
Charlesworth will be replaced by David Hardy, currently an investment adviser to sister fund John Laing Environmental Assets Group. Hardy, who has worked at the John Laing group since 2005 and was part of the team that launched the renewables-focused JLEN in 2014, will transition his role from JLEN solely towards JLIF in the coming weeks.
“We are delighted that someone of the calibre and with the relevant experience which David brings to JLIF will be our new lead investment adviser,” Lester added.