Industry Funds Management (IFM) has appointed two members to its burgeoning infrastructure investment team, which has grown from two people three years ago to 14 people today.
IFM announced it had appointed former Credit Suisse infrastructure specialist Kyle Mangini as senior investment analyst and Michael Landman from BHP Billiton as an investment manager.
Both have extensive experience in the infrastructure sector, which includes work on the $35 billion sale of Victoria's electricity and gas assets.
IFM funds invested in infrastructure have leaped by over 500 per cent in the last three years from $1.3 billion to $5.5 billion.
Infrastructure investments now make up a whopping 44 per cent of IFM's portfolio, up from 24 per cent two years ago.
Institutional investors are increasingly investing in infrastructure because it provides low risk, reliable returns over the longer term.
IFM's most recent purchase was a 15.8 per cent stake in the US-based Colonial Pipeline Company for US$641 million ($777 million).
It was the second US investment for the firm, which also bought a 22.8 per cent stake, worth US$250 million ($291 million), in US electricity producer Duqesne Light Holdings in July. In October IFM bought UK-listed water utility Anglican Water for $750 million.
Mangini and Landman will report to IFM chief investment officer Damian Moloney.
