GIP names two new operating partners

The firm has also been deploying its $15.8bn Fund III, taking the lead role in the $5bn Equis Energy acquisition and paying €1.98bn for Italian high-speed rail operator Italo.

Global Infrastructure Partners named two new operating partners on Wednesday, promoting one from within the firm and hiring another from industrial gas services business Praxair.

New York-based GIP made Scott Stanley an operating partner after hiring him 11 years ago as its first operating principal. “He has consistently demonstrated a standard of excellence in leading waves of productivity increases and driving earnings growth,” GIP chairman Adebayo Ogunlesi said.

The firm also hired Scott Telesz from Praxair, where he spent eight years, the last six as executive vice-president. Praxair is a Connecticut-based industrial gas product business generating $6 billion in annual revenue, according to GIP. Telesz previously spent nine years at GE/SABIC, where he ran product businesses in GE Plastics and GE Supply.

GIP has been investing its third fund, which closed on $15.8 billion in January 2017. The firm has taken a leading role in last October’s $5 billion acquisition of Equis Energy. GIP teamed with Canada’s PSP Investments and China Investment Corporation for the deal, which the firms have called “the largest renewable energy generation acquisition in history”.

More recently, it agreed to pay €1.98 billion for Italian high-speed rail operator Italo and $1.38 billion for NRG Energy’s US renewable energy business.