London-listed asset manager Intermediate Capital Group has launched a new infrastructure division, hiring an investment team trio from EDF Invest.
Guillaume d’Engremont, head of the EDF group charged with investing in infrastructure, real estate and private equity, will join ICG as head of European infrastructure at the beginning of next month.
He will be joined by EDF Invest’s head of infrastructure Jérôme Sousselier in a managing director role, and Ludovic Laforge as associate director, currently a principal in the infrastructure team at EDF Invest. Sousselier and Laforge will report to d’Engremont.
The energy, transport and telecoms sectors have been highlighted as particular target markets, with ICG keen to capitalise on sub-sector trends in the gas, water treatment and telecom towers areas. While targeting core and core-plus infrastructure deals across Europe, the team will be based in ICG’s Paris office and d’Engremont said the group is set to “expand very rapidly”.
“France is one of the most dynamic countries in the infrastructure space,” d’Engremont told Infrastructure Investor. He added that the group sees particularly attractive investments in the UK, Germany, Spain and Italy.
ICG is planning to launch a fund to pursue its investments, although d’Engremont would not be drawn on when this might happen, although he said investments would begin as soon as possible, regardless of when the fund is in market.
While at EDF, the three were involved in investments totalling about €4.3 billion over the past five years in energy and transport infrastructure, with the company most recently teaming up with KKR as a 10 percent shareholder in the €2.95 billion Q-Park deal last year. EDF also invested in German gas grid Thyssengas alongside DIF and toll road group Autostrade per l’Italia.