Hastings Funds Management (Hastings), the Melbourne-based fund manager, has appointed Richard Hoskins
as its head of global asset management – a newly created role.
Hoskins, who has spent 20 years in the finance industry and seven with Hastings, was previously chief executive of Hastings’ A$3.3 billion (€2.6 billion; $3.4 billion) Utilities Trust of Australia (UTA) fund.
Replacing Hoskins as chief executive of UTA is Colin Atkin, an executive director of infrastructure who was previously chief executive of the Hastings Diversified Utilities Fund (HDF), which was sold to Australian natural gas infrastructure business APA Group in October last year.
Hoskins has been a Hastings representative on the boards of a number of infrastructure assets in Australia and the UK and has managed acquisitons and divestments. He is a member of Hastings’ equity investment committee and executive leadership team.
Atkin joined Hastings in 2008 and is a senior executive in the investment team. He was made chief executive of HDF in February 2010 and led the fund through its sale process. Like Hoskins, he is a member of the equity investment committee and has held directorships and had responsibility for a number of Hastings’ investee assets.
Hastings chief executive Andrew Day said the creation of the global asset management role “recognises the importance of Hastings’ core expertise as a specialist infrastructure asset manager and the need to continually enhance these capabilities”.
At the end of March this year, Hastings had A$7.4 billion in funds under management with a portfolio mainly comprising utilities, airports, toll roads and sea ports in Australia, the UK, mainland Europe and the US.