On 1 January, Christopher Elliott – a Barclays veteran who held the roles of managing director and head of infrastructure investing at Barclays Infrastructure Funds (BIF) – reverted to a three-day-a-week role with the firm. He remains chairman of the BIF investment committees.
Existing managing directors Nigel Middleton and Andy Matthews have stepped up to assume executive responsibilities for the ongoing management, business development and investment processes of all the BIF funds currently under management.
BIF remains focused on social infrastructure and renewable energy in the UK and continental Europe.
Middleton joined Barclays in 2002 and helped establish Infrastructure Investors (I2), a European secondary infrastructure joint venture fund run by Barclays, Societe Generale and 3i. The fund was subsequently acquired by Barclays Integrated Infrastructure Fund, which is managed by BIF. Matthews joined in 2001 from monoline insurer Financial Security Assurance (UK) and helped establish the business in continental Europe, opening the office in Paris in 2006.
Elliott was a managing director as well as head of infrastructure investing. He joined Barclays in 1989 when founding the infrastructure advisory group. Prior to this, he had been an adviser at Bank of America and BZW.
BIF is a wholly owned subsidiary of the Barclays Group and has 28 investment professionals in its London and Paris offices. The firm makes investments in the UK, France, Ireland, Italy, Portugal, Spain, the Netherlands and Germany.
In October 2010, BIF closed its sixth infrastructure fund on £645 million (€738 million; $1.0 billion) – short of an initial £800 million target amid tough fundraising conditions generally. The fund was set up to target social infrastructure but with a “focus on generating long-term yield whereas previous funds have focused more on a capital appreciation model”, the firm said at the time.