iCON Infrastructure, the UK-based mid-market fund manager, has hired Reiner Schrankler and Martin Parkes to its senior management team. Schrankler will head up a new office being established by the firm in Dusseldorf, Germany.
Schrankler was previously chief executive officer of Hochtief Concessions and a member of Hochtief’s global executive committee. Hochtief Concessions owns interests in six international airports, seven toll roads in Europe, North and South America, and around 100 public-private partnership (PPP) projects in Germany, the UK and North America.
Prior to joining Hochtief, Schrankler spent 15 years in investment banking, mostly with Citigroup/Salomon Brothers in London where he focused on infrastructure M&A transactions.
Parkes joins with 20 years’ experience in the power and utilities sector, including senior management roles at Gama Energy, GE Energy Financial Services, EDF Energy and Rolls Royce Power Ventures. He will be based in London and will focus on the origination and management of investments in the energy sector.
In a statement, iCON senior partner Paul Malan said the hires and new German office “will further enhance iCON Infrastructure’s proven ability to originate, execute and manage investments in infrastructure across Europe”.
The firm had already been busy on the recruitment front, bringing in eight new professionals over the last year including the likes of Gary Eade, Ivana Semeraro and Thibault Jarlegant to the executive team. The team is now around 20-strong overall.
iCON, which spun out from Deutsche Bank in 2011, is currently investing its €466 million second fund which it closed in early 2013. Investments from the fund include Norwegian district heating and cooling business Oslofjord Varme and Dutch ports operator Verbrugge International.
iCON is expected to come to market with a new fund, expected to target up to €750 million, around the middle of next year.
A keynote interview with the iCON team – in which they talk about such things as the new hires, where they see opportunity in the market and the aspiration implied by the iCON name – will be included in the upcoming October 2014 issue of Infrastructure Investor.