PIP bulks up fundraising squad

The UK pension platform has hired an ex-AXA business development manager as investment director, one of two senior hires this month.

The UK's Pensions Infrastructure Platform has added two senior members to its investment team in a move that underscores its ambition to make a mark on the fundraising trail.

Angela Gyulveszy and Nick Cole are joining as investor relations director and investment director respectively less than five months since the London-based institution launched its Multi-Strategy Infrastructure Fund, its first vehicle since becoming a fully-fledged fund manager earlier this year.

The fund, which has a target of £1 billion ($1.3 billion; €1.2 billion), reached its first close on £125 million in April and made its debut investment in July. This maiden deal saw PIP invest £27.5 million in inflation-linked debt to help refinance a portfolio of 2,366 rooftop solar assets distributed around England and Wales.

Gyulveszy is joining from AXA Real Estate Investment Managers, where she oversaw business development, product development and marketing strategy. Armed with “a breadth of experience in alternative investments and developing client relationships,” the platform said in a statement, “she will be taking the lead in developing PIP’s fundraising efforts”.

Cole comes from Aberdeen Asset Management, where he was investment manager for infrastructure funds. His primary responsibility was to look after all new business development in the waste sector. He has over 12 years of experience in the infrastructure market, originating, structuring and managing both greenfield and brownfield projects in the social space, PIP said.

Aside from its debut fund, PIP is also investing via the £524 millionDalmore PPP Equity PIP Fund and the £131 million Aviva Investors' PIP Solar Photovoltaics Fund, as well as a £370 million co-investment alongside Dalmore in the £4.2 billion Thames Tideway Tunnel.