Hastings positions itself for Oz privatisations

Peter Siapikoudis takes the role of portfolio manager, Australian mandates as the firm anticipates a strong pipeline of domestic opportunities.

Melbourne-based fund manager Hastings Funds Management (Hastings) has appointed Peter Siapikoudis to the newly created role of portfolio manager, Australian mandates.

Siapikoudis, an internal hire, is currently portfolio manager for Hastings-managed The Infrastructure Fund (TIF).

A statement from the firm said that the new role would “provide investors access to the strong infrastructure pipeline that will exist in Australia as the Government accelerates its privatisation agenda”.

Investors will be given the option of accessing unlisted infrastructure through one of Hastings’ two cornerstone funds – TIF or the Utilities Trust of Australia (UTA) – or to invest alongside these funds on a bespoke basis.

“Hastings is keen to broaden its investment vehicles to represent a more flexible approach to infrastructure investment in Australia,” said Hastings chief executive officer Andrew Day in the statement.

At TIF, Siapikoudis has grown the fund from A$280 million (€191 million; $239 million) in March 2008 to A$1.7 billion currently. He was involved in the acquisition of eight new assets and a number of capital raisings at the fund, which has delivered annualised returns of 15.1 percent and 16.3 percent (after fees) over five- and ten-year intervals respectively.

Jonathan van Rooyen, another internal hire, will replace Siapikoudis as portfolio manager for TIF. Van Rooyen has been a key player in the development of the firm’s Asia strategy, establishing an airport fund with National Pension Service of Korea and helping secure the Military Mutual Aid Association as TIF’s first investor from Korea.

In April this year, Hastings teamed with China Merchants to acquire a 98-year lease of Australia’s Port of Newcastle for A$1.75 billion. The firm also invests in Europe and the US and currently has A$9.2 billion under management on behalf of 70 institutional investors.