Ex-3i Infra co-head resurfaces at InfraRed

Ben Loomes will run a business comprising six listed and private funds.

InfraRed Capital Partners has hired Ben Loomes as a managing partner and head of infrastructure.

Loomes joins the London-based firm about six months after leaving 3i Infrastructure, which he co-headed alongside Phil White.

Under his tenure, the London-listed firm initiated a push away from what it deemed the safest corners of the asset class and towards core-plus, mid-market opportunities amid rising competition in the large-cap core segment. The same logic led the firm to broaden its return target to an 8 to 10 percent range, rather than aiming for the top end of that bracket.

Loomes’s “track record” was cited as a key reason to hire him for InfraRed, which has diversified from its initial focus on PPPs. The firm now has around 60 infrastructure investment staff and a portfolio of more than 200 assets spanning PPPs, renewable energy, regulated and economic infrastructure businesses.

“With its strong long-term track record of investment performance, InfraRed has consistently grown its funds under management to become one of the most established investment managers in the global infrastructure market,” Loomes commented.

Prior to 3i, he was an executive director at Morgan Stanley, in charge of UK business services coverage for about a year. He was previously a principal at Greenhill Cogent for eight years within the company’s European M&A, restructuring and financing advisory team. He started his career at Goldman Sachs as an analyst.