JLC hires a senior principal from Basalt Infra – updated

Magic Johnson-backed JLC Infrastructure has hired the senior principal who played a leading role in managing London-based Basalt Infrastructure Partners’ North American investment strategy.

Robert Keough has joined JLC as a managing partner to help complete the company’s investment team and lead deal execution. At Basalt, which closed its second infrastructure fund earlier this month on $1.285 billion, Keough played a key role in the firm’s North American investment activity, especially in regulated utility and power assets. He also previously worked as a managing director at John Hancock Life Insurance Company.

“Investing in infrastructure is, at its core, investing in assets that are mission critical to serving our communities’ needs,” Keough said. “JLC’s core values and understanding of how to work alongside states, cities and local municipalities to regenerate our infrastructure fairly and efficiently is unmatched in the sector.”

Magic Johnson Enterprises and Loop Capital Partners founded JLC in 2015 to invest in US infrastructure opportunities. The firm manages around $300 million in assets and is participating in several public-private partnerships.

Last August, JLC committed $10 million as part of the redevelopment of Terminal B at New York’s LaGuardia International Airport. It’s also involved with consortiums bidding on the Denver International Airport Great Hall Terminal project and the LAX automated people mover project.

Correction: An earlier version of this story gave the impression Robert Keough led Basalt’s North American activities, which are, in fact, led by Jeff Neil.