Two switch to Balfour US project finance arm

Balfour Beatty Capital Group, the North America-focused project finance hub for Balfour Beatty, has brought over Mark Jennings from its UK base and hired lawyer David Yoon as assistant general counsel.

US-based Balfour Beatty Capital Group (BBCG) has added to its corporate management team, moving Mark Jennings from London to its Philadelphia operation and hiring lawyer David Yoon from mutual fund company The Vanguard Group.

BBCG was established to manage project financing for the North America-run infrastructure businesses owned by Balfour Beatty, the UK developer.

Jennings and Yoon have both demonstrated skill in working with the public sector, according to Rick Taylor, president of BBCG.

London transplant Jennings, who joined Balfour Beatty in 2006, cut his teeth in the Private Finance Initiative (PFI) space, the UK's standard procurement method for PPPs, and of late has picked up experience in renewable energy. At BBCG, he has taken on the role of vice president of finance.

In 2006, Yoon joined Vanguard, the trillion-dollar investment management company founded by legendary index fund pioneer John Bogle. His role at BBCG will be assistant general counsel.

BBCG is a 1,000-employee operation headquartered in Newton Square, Pennsylvania.

Earlier this month, Balfour Beatty Capital – the investment arm of BBCG – made a $16.3 million equity investment in the $362 million Western Group Housing Privatisation project. The project, over a 50-year period, involves the design, building and renovation of 3,268 military homes at four bases in California, Wyoming, Montana and Missouri on behalf of the US Department of the Air Force.