Scott Davies has been appointed the new global head of infrastructure at AMP Capital Investors, the Sydney-based fund manager. He replaces Phil Garling, who has decided to retire from full-time executive roles after a 34-year career in financial services and construction.
Davies, who assumes the role in July, was formerly chief executive of the Australian Stock Exchange-listed Macquarie Communications Infrastructure Group (MCIG), which invested in communications infrastructure. The business, which Davies joined upon inception in 2002, was acquired by the Canada Pension Plan Investment Board in a A$2.2 billion (€1.6 billion; $2.4 billion) deal in June 2009.
Prior to this, Davies held senior investment roles at Macquarie Capital in New York and London between 1995 and 2002, where he was responsible for Macquarie Group’s cross-border asset financing activities with a specialisation in the telecommunications sector. He also had spells at Hambros Bank in London and Sydney and law firm Minter Ellison in Sydney.
Davies will report to AMP Capital managing director Stephen Dunne, who said in a statement that Davies’ “15 years of direct infrastructure experience will provide a strong basis from which we will continue to expand our global investment opportunities for clients”.
Since joining AMP Capital in 2002, Garling oversaw the growth of the infrastructure business from seven investment professionals to more than 60 and the opening of new offices in London, Beijing, New Delhi and New York. While retiring from full-time roles, Garling will remain a board representative on AMP Capital funds including DUET, the Asian Giants Infrastructure Fund and The Infrastructure Fund of India.
AMP Capital is currently in the market with a number of infrastructure funds, including an open-ended European equity fund. In April this year, it posted a €241 million first close on an infrastructure debt fund which has a final target of €500 million.