Meridiam adds North America chief executive

James Rubin, who worked in private equity before joining New York State government, has been appointed to the new position.

Paris-based Meridiam Infrastructure has boosted its US presence, adding James Rubin, a former director of state operations in the New York State Governor’s Office, as North America chief executive.

Rubin, who previously served as commissioner of the state’s Homes and Community Renewal agency, will work alongside North America chairman Jane Garvey in New York. Rubin has also worked for New York’s Office of Storm Recovery.

Before moving to government, Rubin spent much of his career in private equity. Until 2012, he served as senior partner for BC Partners, a London-based private equity firm. From 2001 to 2008, he worked as a partner for One Equity Partners, a JP Morgan Chase affiliate.

“We are always keen on having people coming from both the public and private world, and Jamie fits the bill,” Thierry Déau, Meridiam’s founder and chief executive, told Infrastructure Investor. “We do feel that there is a need for building capacity on the public side in the US to help the pipeline, so we wanted somebody who could spend a bit more time doing that sort of knowledge sharing process.”

The appointment to the new position comes after Meridiam North American Fund III closed at $1.3 billion last year. The firm has been active in the US transportation sector; in November it reached commercial close along with Madrid-based Cintra on the $3.6 billion I-66 public-private partnership in Virginia.

“The potential is huge in the market and the delivery is still probably only 10 to 20 percent of what it should be,” Déau noted. “There is a huge deficit of infrastructure investment, and a lot of that is in transportation.”

Founded in 2005, Meridiam holds $6.8 billion in assets under management.