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Triple hire for BBIP in US and UK

The fund manager has added two new team members to its ranks in New York and one in London as it invests its debut fund.

Balfour Beatty Infrastructure Partners (BBIP) has announced the hire of three new associates to its investment team, bringing the total number to 16.

Sylvester Burley is one of two new associate-level appointments in the firm’s New York office. Hired to advise on the origination, execution, management and operation of investments in North America, Burley joins from the New York office of energy fund manager Riverstone Holdings. He previously worked in the energy investment banking group at JP Morgan.

Also joining in New York is Christopher Tiano, who will adopt a similar role to Burley and who joins from DNB Markets, the investment banking arm of Norway’s DNB Bank. In his prior role, Tiano advised companies in the maritime and offshore industries on financial and strategic decisions including raising public and private capital and mergers and acquisitions.

Meanwhile, Marcus Berg also joins as an associate in the firm’s London office. While his areas of focus are the same as the other two, his geographic remit will be Western Europe rather than North America. Berg was previously an executive in the transaction modelling team at Ernst & Young where he designed, developed and reviewed financial models for clients in a range of industries including infrastructure.

From its London and New York offices, BBIP is investing its debut fund which achieved a first close on $420 million in January 2013 and had raised $618 million by the end of last year. The fund has a final close target of $1 billion.

Limited partners in the fund include London-based developer Balfour Beatty, which committed $110 million upon its launch, and US pension California State Teachers' Retirement System.

BBIP was established in 2011 as a partnership between a team of infrastructure investment professionals and Balfour Beatty.

Last month, BBIP announced the acquisition of Alkane Energy, a UK-based independent power generation firm, in a £61.4 million (€84.5 million; $95.4 million) deal.