Exclusive: Weisdorf to launch new infra platform(2)

Mark Weisdorf, who departed J.P. Morgan’s Infrastructure Investments Group on July 5, is in the process of building a team to execute an infrastructure strategy.

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Infrastructure asset class veteran Mark Weisdorf is currently assembling a team to help investors take advantage of opportunities that he sees in the infrastructure sector. The new operation will be based in New York.

As reported exclusively by Infrastructure Investor, Weisdorf left the J.P. Morgan Infrastructure Investments Group – which he had launched and where he had served as chief executive officer – earlier this month. In a subsequent conversation with Infrastructure Investor, Weisdorf said his last day with the firm was July 5.

He explained that, in his view, the J.P. Morgan group had over the last couple of years taken steps required to address what had been an underweight position in the US market, had a “well positioned portfolio” and – despite the transition involved in a management team reshuffle – was enjoying renewed growth. Rather than “continue to grow” something that was “going well”, Weisdorf said he began to ponder his next personal career challenge.

The nature of that challenge has now become apparent, with Weisdorf saying he is currently assembling a team to execute on a strategy, having “identified certain opportunities” within the sector. He says he is working with a “core group” of people and has identified a wider group that can be brought on board as the firm moves towards a fundraising, which is anticipated next year.

Weisdorf added that he had not yet determined whether the new platform would be independent and unaffiliated, whether it would be a partnership with cornerstone institutional investors, or whether it would be a new platform for an organisation wanting to build one.

He expressed the view that now is an opportune time to launch a new business of this type since he believes the opportunities are greater than at any point since the financial crisis, but “there are fewer experienced teams in the infrastructure space than there is capital that can be prudently deployed”.

Weisdorf was the first employee of J.P. Morgan Infrastructure Investments Group in 2005. He had previously been instrumental in the launch of the private markets group at the Canada Pension Plan Investment Board (CPPIB), where he spent three years until December 2003 as vice president, private market investments.