Colonial First State Global Asset Management has appointed Daniel Timms as director of infrastructure investments, as part of its efforts to strengthen its unlisted infrastructure asset management capability.
Timms joins the asset management firm from local utility Origin Energy, where he had worked since 2004, with his most recent position as a Sydney-based manager for international energy markets. First State said Timms had held a number of executive roles with the utility over a 12-year period encompassing strategy, business development and major projects in both Australian and international markets.
“With the strong growth of our business and four recent acquisitions including Vector Gas and the Maui Gas Pipeline, Timms brings a breadth of asset management and origination skills to further strengthen our global utility sector expertise and industry-based asset management capabilities,” said Chris McArthur, partner for infrastructure investments at the firm.
The investment arm of the Commonwealth Bank of Australia is now raising funds for its open-ended vehicle, Global Diversified Infrastructure Fund, which is targeting $500 million. The fund, with a current size of $1.2 billion, is in the process of deploying the $550 million garnered from its last fundraising effort. It is targeting assets in the renewables and water sectors in Europe and Australia.
In September, the Sydney-based firm made two appointments – Asieh Mansour and Graham Dooley – also to its global unlisted infrastructure investments team. The team now comprises 35 investment professionals, based in the UK and Australia.