Peter Hofbauer has joined Hermes GPE, the UK-based private equity and infrastructure investment specialist, as head of infrastructure – a newly created role. Hofbauer was previously global head of infrastructure at Babcock & Brown, the once-powerful Australian investment and advisory firm that went into liquidation in 2009.
An Australian national, Hofbauer started his career with Price Waterhouse in 1980 before joining Westpac Banking Corporation in 1985 as associate director in project finance and advisory services. He then spent 20 years with Babcock & Brown, including spells as head of public-private partnerships in London and head of infrastructure and project finance in Australia.
Hermes GPE was formed in April 2010 from the merger of the private equity funds of funds businesses of Hermes Fund Managers and Gartmore Investment Management. As at 12 April 2011, it managed over £5 billion (€5.7 billion; $8.3 billion) of capital for institutional investors and pension funds, with £500 million of this invested in infrastructure. Hermes Fund Managers had been investing in private infrastructure since 2001.