Citigroup’s alternative asset management arm has launched an infrastructure investment platform, as it looks to cash in on increased private sector involvement in infrastructure projects
Citi Alternative Investments has set up an “investment center” called Citi Infrastructure Investors, which will operate out of New York and London. CII will act as a platform for the group to invest in large institutional infrastructure projects around the world.
The new team will be co-headed by Juan Bejar in London and Felicity Gates in New York. Bejar was previously chief operating officer at Spanish infrastructure group Ferrovial, while Gates was head of Deutsche Bank’s North American infrastructure business.
They will be joined by three Citigroup employees: Colin Campbell, J.G. Duthie-Jackson, and Michael Froman, who will be managing directors.
CAI, Citigroup’s alternative asset management platform, also invests in private equity, hedge funds, real estate and structured products. It has about $54 billion (€42 billioin) of assets under management.
Citigroup’s entry into the infrastructure market follows similar moves by other large investment banks such as Goldman Sachs, Morgan Stanley and JP Morgan. At the end of 2006, Goldman announced that it had raised a $6.5 billion private equity fund focused on the sector.