Infracapital expands transaction team

The UK-based fund manager has hired two as it seeks to deploy the £1bn fund it closed at the end of last year.

Infracapital, the infrastructure arm of London-based asset manager M&G Investments, has added two members to its transaction team.

Guy Hacking has joined the company as an associate director, returning to Infracapital after two years spent as an investment and asset manager at Swiss-based oil trading and logistics firm Mocoh. Prior to his first stint at Infracapital, Hacking was part of the M&A advisory team at London-based fund manager Climate Change Capital.

The second fresh recruit is Peter Mitchev, who’s joined Infracapital as an associate. Mitchev was previously part of the utilities and renewables team at RBC Capital Markets, a unit of Canadian investment bank RBC. He was formerly with UK lender HSBC and has qualified as a chartered accountant with financial services firm KPMG.

The appointments come as Infracapital seeks to invest its second fund, which reached its final close last October on £1 billion (€1.3 billion; $1.5 billion).

The 12-year vehicle, which had a target of £1 billion, is the successor to Infracapital Partners I, which was launched in 2005 and raised £908 million. Co-investment pledges added a £300 million side pot to the total money raised this time round.

Also in October, Infrastructure Investor reported that Infracapital, along with Goldman Sachs Infrastructure Partners, had begun a process to sell their 33.3 percent stake in Associated British Ports (ABP), the UK’s largest port operator.

“A decision on the sale will be made pending the conclusion of the process,” said ABP last Autumn, noting that there was no certainty the transaction would proceed.

A consortium led by Goldman Sachs acquired the company for £2.8 billion in 2006, trumping a rival bid from Australia’s Macquarie Group.