Whitehelm Capital announced last week the appointment of Gary Withers as Chief Executive Officer. This appointment coincides with the merger of Challenger Limited's infrastructure division with Access Capital and the formal commencement of Whitehelm Capital on 1 July 2014.

Whitehelm Capital, Chairman, Janet Torney said:

"Gary has extensive global funds management CEO experience internationally and his skills and relationships will benefit Whitehelm's future international opportunities and partnerships."

Mr Withers joins Whitehelm from First State Investments in the UK where he was Chief Executive Officer. Earlier Mr Withers held CEO roles at Credit Suisse Asset Management and AVIVA Life.

Mr Withers will commence with Whitehelm on 4 August 2014 and will initially be based in Sydney.

Whitehelm has 51 employees in London, Sydney, Singapore and Canberra and currently manages A$4 billion (US$3.75 billion) in funds under management as at 30 April 2014.

Whitehelm has a 16 year track record investing in infrastructure and a portfolio of 44 infrastructure assets.

Most recently Whitehelm Capital finalised its first transaction, a stake in a solar plant in Peru with a total project cost of US$200 million.

On the commencement of Gary Withers as CEO, Interim CEO and CIO Graham Matthews will resume his responsibilities as CIO.

The formation of Whitehelm was announced on 17 April 2014 and was advised by Investec.

After the merger, Graham Matthews and Access Capital's Tom Snow remaining fully invested in the combined business, each retaining a 23% stake. Twenty four percent of Whitehelm's shares will be owned by other senior managers, bringing the total staff shareholding to 70% of the firm.

Challenger's Fidante Partners boutique funds management business will hold the remaining 30%, in keeping with its philosophy of alignment through ensuring majority ownership remains with investment principals.