UBS Asset Management’s Real Estate and Private Markets business has hired Perry Offutt, a managing director at Macquarie Infrastructure and Real Assets, to lead its infrastructure business in the Americas, as the firm prepares to launch a new equity strategy this year.
According to the Swiss-based firm, Offutt’s hire, which is effective in June, is part of a plan to expand its $4 billion infrastructure programme in the Americas.
Offutt joins UBS Asset Management from MIRA, where he served as managing director of the North American investment team since 2014. Prior to that, he spent 15 years at Morgan Stanley, including as head of infrastructure banking for the Americas.
He is replacing Floyd Gent, currently UBS’s head of infrastructure equity for the Americas, who will take on a new portfolio company-focused senior advisory role, the Swiss firm said in a statement. Offutt will be based in New York and will report to Tommaso Albanese, head of infrastructure at REPM.
UBS Asset Management has further expanded its New York-based team with two other hires. Vanessa Lamort De Gail, who previously helped develop the structured infrastructure debt investment business at Deutsche Bank has joined UBS as portfolio manager. In her new role, she will be tasked with starting up an infrastructure debt fund capability in the US.
Alex Leung, previously an equity analyst specialising in the US energy and industrials sector at Sanford C Bernstein, has joined UBS as a research analyst.
Albanese told Infrastructure Investor the new hires will help as UBS plans to launch a “follow-on global equity strategy this year”.
“We have a global approach to our infrastructure business, with a particular focus on our main European and US hubs,” he said. “We continue to see attractive opportunities to invest capital in these regions.”
UBS also recently expanded its Europe-based team, hiring two directors and a senior analyst last October.
The firm is currently raising its second European infrastructure debt fund, which had received €448.4 million in commitments in March. The vehicle has a €700 million target and a hard-cap of €1 billion.