AllianzGI expands US infra debt team

Jorge Camiña, until recently head of project and acquisition finance at Santander, has joined the German asset manager’s infrastructure debt team in New York.

Allianz  Global Investors has tapped Jorge Camiña to help develop its infrastructure debt business in the US, naming him as a director within its infrastructure debt team in New York, PDI sister title Infrastructure Investor has reported. 

Most recently head of the project and acquisition finance group at Santander Global Corporate Banking, where he led a team responsible for the origination and structuring of non-recourse financing in North America, Camiña has extensive experience across a range of geographies and business segments.

He has worked on Latin American, US and European transactions involving corporate loans, project finance and leveraged buyouts, the German asset manager said in a statement. Camiña will report to Paul David, head of US infrastructure debt.

“As we continue the global expansion of our infrastructure debt business, Jorge's industry and know-how will help ensure we maintain the positive momentum we've gathered since entering the US market last year,” David said.

David, along with his colleague, assistant vice president Alex Ball, relocated to New York from London last summer to help AllianzGI expand its infrastructure debt footprint beyond Europe.

The asset manager had been exploring the US market remotely from London and sealed two transactions before establishing a local presence. The first investment, worth $700 million, was in the ITR Concession Company, the owner and operator of the 157-mile Indiana Toll Road which Australian fund manager IFM Investors acquired in May 2015 for $5.7 billion .

The second US deal closed last August in the form of $60 million in debt financing for the Next Generation Kentucky Highway Information project, in which the state of Kentucky is investing $30 million and partnering with Macquarie Capital to deliver. 

According to Friday's statement, the firm is looking to invest in other sectors aside from transportation and P3s, including energy.

Camiña's appointment comes less than a month since AllianzGI's chief investment officer and head of infrastructure debt Deborah Zurkow took on the broader role of heading the firm's alternatives platform .

She has been replaced by Claus Fintzen, until recently a director within the infrastructure debt team. Fintzen joined AllianzGI in 2012, the same year as Zurkow and the year the firm launched its infrastructure debt unit.

Since then, AllianzGI has committed more than $7.5 billion on behalf of clients into 25 infrastructure debt projects across 12 countries.