Infrastructure debt Principal leaves AMP Capital

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Infrastructure debt Principal leaves AMP Capital

Citywire reports that Australian infrastructure investor AMP Capital has postponed the launch of a listed infrastructure trust following the exit of infrastructure debt principal Richard Lane.

Mr. Lane, who had worked for AMP Capital for the last four years, has decided to leave the firm to pursue another opportunity. An AMP Capital spokeperson said:

A global recruitment search is underway for a replacement but in the meantime Richard's responsibilities have been assumed by the other team members in the London office, with support from the Global Infrastructure Debt team and continued access to the breadth of resources at AMP Capital,' a spokesperson said.

'Following strong interest in AMP Capital's Infrastructure Debt Fund II (IDF II), we have been focused on larger institutional investors that can invest in the fund directly. 'Plans for a listed vehicle, which would have made IDF II available to a wider group of institutional investors, are currently on hold. We may revisit this approach depending on market conditions and investor appetite,'

AMP Capital was trying to raise up to £150 million for the closed-ended Infrastructure Debt Fund. The vehicle was intended for launch in H12014 as a feeder fund for the existing AMP Capital Infrastructure Debt Fund II, which raised $303 million in August 2013 and now has $750 million in assets.

It is still unknown the new opportunity Mr. Lane is chasing. Prior to AMP Capital, he hold positions at Dexia and RBS.

According to sources, his exit follows the departures of Tom Walker, AMP Capital's deputy head of global listed real estate, and Hugo Machin, the firm's head of European listed real estate.

In April 2014, AMP Capital appointed Kate Campbell as Institutional Director - Europe. Ms Campbell is responsible for raising capital for AMP Capital's undertaking for collective investment in Transferable Securities (UCITS) platform and its unlisted infrastructure business.

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