The Plenary Group is making good on its promise to staff up its US arm, hiring Stuart Marks from InfraRed Capital Partners as well as Matt Girard from AECOM Technology Corporation.
In addition to Marks and Girard, Plenary, which nailed down its first-ever public-private partnership (PPP; P3) in the US in April, has also added Terry Ostrom from Flatiron Construction Corporation.
Marks was an investment director for InfraRed, a $6 billion infrastructure fund manager. Prior to InfraRed, he was a senior investment director with Meridiam Infrastructure. He also managed infrastructure for Babcock & Brown and ABN AMRO Group. Marks will be a senior vice president for Plenary.
Plenary also appointed Girard as senior vice president. He had been director of alternative delivery at AECOM. Ostrom, meanwhile, was named vice president of project delivery. Marks, Girard and Ostrom will be based in Los Angeles.
Plenary is a highly regarded P3 developer in Australia and Canada, but had no market penetration ‘Stateside’ until 2012, when Colorado put a managed lane concession involving US Route 36 (US 36) out to tender. Plenary was named preferred bidder, marking the first time the firm had won business in the US.
In March, ‘Plenary Group USA’ launched, headquartered in L.A. and led by Dale Bonner, former Secretary of Business, Transportation and Housing for California. Bonner in June told Infrastructure Investor he expected to add three more people by year-end.
Using US 36 as its starting point, Plenary has bid on the ‘I-69 Section 5’ project in Indiana and the ‘Portsmouth Bypass’ P3 in Ohio in the Midwest US as well as the Texas State Highway 183 project.