Morgan Stanley appoints infrastructure head in Mumbai

Gautam Bhandari, previously part of the bank’s investment banking division in New York, is moving to Mumbai to head up Morgan Stanley Infrastructure as it seeks to invest part of a $4bn global fund in India, the Middle East and Sub-Saharan Africa.

Morgan Stanley Infrastructure Partners has appointed Gautam Bhandari, previously of the bank’s investment banking division, to build and a run an infrastructure team in Mumbai, India, which will focus on opportunities in the country as well as in the Middle East and Sub-Saharan Africa.

Bhandari previously oversaw the bank’s M&A advisory services to the engineering and construction, industrial services and alternative energy sectors in emerging markets.

His team will be investing from the Morgan Stanley Infrastructure Partners Fund, which closed in May on $4 billion (€2.7 billion), ahead of its target of $2.5 billion.

Morgan Stanley Infrastructure Partners operates separately from the investment banking division to avoid conflicts of interest.

When the fund closed, its stated remit was to invest 20 per cent in Asia, with the remaining 80 percent split between Europe and the US.

The fund has made more than $1 billion of investments, including an 80 percent stake in Montreal Gateway Terminals, a Montreal port operator.

In February 2008 it took a minority stake in SAVE, which manages the Italian airports of Venice and Treviso.