Sydney-based alternative investment manager Causeway Asset Management has appointed Richard Lourey as the managing director of its water and fund management division.
Lourey, who is tasked with establishing the Causeway Water Fund, has among his key responsibilities raising funds for investment in water entitlements, and buying water-related infrastructure, water-related land and other water-related securities.
He brings to the role 20 years' experience in capital markets, having worked in Australia, London and New York for various organisations, including ANZ Securities, Ord Minnett, JPMorgan and Austock.
His most recent role was consulting with United States investors looking at Australian water investments.
"Causeway's traditional debt business and now the water fund are two areas of major interest for investors and I am very excited about the opportunities that exist in these two markets," Lourey said.
Causeway Asset Management joint managing directors Mike Davis and Tim Martin said: "We're delighted that Richard has joined us to establish a presence for Causeway in Melbourne and we share his enthusiasm for creating a new sustainable investment product centred on water, which is such an important issue in Australia and beyond."
