First State expands unlisted infra team

First State Investments, the investment arm of the Commonwealth Bank of Australia, has made three new appointments to its unlisted infrastructure team. The new appointees will be part of the team that manages the European Diversified Infrastructure Fund (EDIF).

First State Investments, part of the Commonwealth Bank of Australia, has made three additions to its unlisted infrastructure investments team, according to a press release issued by the company.

Inderdip Syan

The team manages the European Diversified Infrastructure Fund (EDIF), an open-ended fund with a focus on European OECD countries. The fund invests in economic infrastructure, such as utilities, toll roads, airports and other essential services which can offer attractive risk-adjusted returns.

The team has been expanded with the appointment of Inderdip Syan, Gregor Kurth and Raphael Viallet.

Syan, ex-Rutley Capital partner, has joined as portfolio director. He has over 10 years of experience working with real estate investments. At First State, he will oversee infrastructure business operations.

Kurth has joined as senior executive from DI Deutsche Infrastruktur, where he was an associate working on fund structuring and fundraising.

Viallet, an ex 3i Infrastructure investment executive, has joined as senior executive. Both Kurth and Viallet will take part in transaction and asset management, as well as financial modelling and analysis, according to the press release.

First State Investments is part of the consolidated asset management division of Commonwealth Bank of Australia. First State has a portfolio of 21 infrastructure investments globally valued in excess of €1.6 billion as at 30 June, 2010.