AllianceBernstein to launch infra debt business

The US asset manager has recruited Gerry Jennings, a founding member of AMP’s infrastructure debt funds, to head the new unit.

AllianceBernstein is in the process of building an infrastructure debt platform, the firm said in a statement on Tuesday.

The US asset manager has hired Gerry Jennings, who will take on the role of senior vice president and title of director of global infrastructure, to establish the new business from its London office.

Jennings joins from Australia’s AMP Capital, where he was one of the founding principals in its infrastructure debt funds. His role involved fundraising, sourcing deals and managing a portfolio of European assets in sectors including utilities, water, gas and electricity transmission and broadcast towers.

Prior roles have included senior manager for private equity at Ahli United Bank and director of leverage finance at Mizuho Leverage Finance. He started his career at HSBC Group.

Jennings will work with the company’s investment team to respond to “the growing demand of institutional investors for opportunities in these assets,” AllianceBernstein said in the statement.

Few details have come to light on the eventual structure and remit of the unit, which is “not fully functioning yet,” a person close to the matter told Private Debt Investor sister title Infrastructure Investor.

New York-listed AllianceBernstein is one of the largest publicly traded asset management firms. Formerly known as Alliance Capital Management, it is majority-owned by France insurance and asset management group AXA and has around $443 billion under management.