UBS adds to debt team with portfolio manager hire

The Swiss group is expecting a December close of about €1bn for its second infrastructure debt fund, having so far made one investment.

UBS Asset Management has added to its European infrastructure debt team, appointing Deutsche Bank’s Viktor Kozel as a portfolio manager, the Swiss firm confirmed.

The appointment comes three weeks after UBS said it had raised a further €400 million for Archmore Infrastructure Debt Platform II. The vehicle has now reached €877.9 million and is expected to close on its €1 billion hard-cap in December, targeting gross returns of 4 percent.

Kozel’s arrival ends a seven-year tenure at Deutsche Bank, where he was vice-president in the bank’s transportation, energy and infrastructure business. A spokeswoman for UBS declined to confirm if Kozel’s role was a newly created position, but said further growth of the team is being planned.

The hiring mirrors an appointment announced earlier this year by UBS in its New York office, which saw Vanessa Lamort De Gail also join as a portfolio manager from Deutsche Bank, with a view to setting up an infrastructure debt fund capability in the US.

IDP II currently has one investment under its belt, following the provision of debt to a social infrastructure project in Finland in July. The first fund is fully invested across 14 transactions in 13 countries.