Fengate Capital Management has appointed David McFadden as chairman of its Canadian and international infrastructure advisory boards “to guide the infrastructure team through significant growth on a global scale,” the Toronto-based asset manager said in a statement.
McFadden has been with the firm since 2006 when he launched LPF Infrastructure Fund, Fengate’s first infrastructure offering targeting investments in Canadian public-private partnerships (PPP; P3) and independent power projects. Since then, he has helped launch an additional eight funds for infrastructure in Canada and a number of international markets.
“The change in Mr McFadden’s role is related directly to Fengate’s success in becoming a global player and he will be an invaluable asset to its international investment strategy moving forward,” the statement said.
“Fengate has really been a great success story in Canadian infrastructure,” McFadden added. “The goal is to see the Fengate family of funds achieve the same success in the development of investment opportunities and returns to investors in markets at home and abroad,” he added.
The asset manager’s investments in the asset class include several renewables projects, but the majority are social infrastructure projects, such as the Brampton Civic Hospital, the Centre for Addiction and Mental Health, Emily Carr University of Arts + Design and the Elgin County Courthouse, all located in Canada.
The firm’s only international infrastructure investment to date is ANZ Terminals in New Zealand.
In addition to infrastructure, Fengate also invests in real estate, the sector in which it initially focused on when it was formed in 2000 with the launch of Northgate Properties, a real estate fund established on behalf of a group of high net worth investors.
Fengate Capital, a subsidiary of Fengate Corporation, currently manages several investment funds with aggregate capital under management of C$1.7 billion (€1.3 billion; $1.4 billion).
According to its website, Fengate has directed investments totalling C$632 million in over 26 infrastructure projects with an aggregate enterprise value of approximately C$10 billion.