Richard Klapow, a former Division Director at Macquarie Capital in New York, a wholly-owned subsidiary of the Macquarie Group, has joined Alinda Capital Partners as a managing director. Klapow made the career move in June.
An Alinda spokesman confirmed Klapow has joined the firm but refused to comment further.
At Macquarie Capital, Klapow worked within the firm’s advisory arm, Macquarie Capital Advisors, where he focused on deal origination in the utilities sector. He had been involved in the Macquarie-led buyout of Pittsburgh utility Duquesne Light Holdings in July 2006 for $1.6 billion.
A former co-worker described Klapow as “the relationship guy”, who would develop rapports with company management teams and source deals.
Klapow’s departure comes just as two other senior advisory executives in the firm’s New York office – Trent Vichie and Michael Dorrell – recently left to co-head The Blackstone Group’s infrastructure funds management business. Vichie had worked on toll road, rail, airport and other transportation-related financings, whereas Dorrell focused on real estate deals.
For Alinda, Klapow’s arrival marks the latest addition to its growing infrastructure team. Last April, the New York-based infrastructure fund hired Kathie Painter, formerly infrastructure director at Citi, as its sixth partner. She was also the firm’s first female partner.
Alinda managing director Christopher Beale, Citi’s former global head of project finance, spun-out from the global banking giant in 2005 to form the firm. Including Painter, five Alinda partners had previous experience in Citi’s infrastructure wing.
Riding a wave of increased limited partner appetite for infrastructure investments, Alinda closed a $3 billion debut fund last year.
The firm, which specializes in transportation, energy, power, water, wastewater and utility services, is currently shopping a $5 billion fund, according to the Probitas Partners 2008 Private Equity Deskbook.
To date, Alinda has invested in several North American and European infrastructure assets, including four toll bridges in Alabama and the $710 million acquisition of US natural gas retailer Kinder Morgan. It is also a frequent investor alongside Macquarie, having previously worked with Macquarie-affiliated funds in their 2007 takeover of the Detroit-Windsor Tunnel in Michigan.