AMP expands infra debt team

AMP’s hiring of Adam Heath as VP is part of the firm’s broader plan to seize on increasing opportunities in the US infrastructure debt market.

Australian-headquartered investment firm AMP Capital has boosted its infrastructure debt team with the appointment of Adam Heath as vice president.

Heath joins the firm following four years as an associate director at investment firm Caithness Energy. Before, he served as an associate at RBC Capital and as an analyst at WestLB.

Heath will be based in New York and will report to Patrick Trears, AMP Capital Infrastructure Debt Principal. On the appointment, Trears said: “North America is a key market for AMP Capital. Infrastructure debt is a growing asset class in the US and we are seeing increased interest from local investors who like its ability to generate consistent, attractive, cash yield with capital stability.”

The appointment continues AMP’s expansion of its US infrastructure debt team. In June, the firm hired James Redmond as an associate in its New York office.

In November, the firm raised $1.1 billion for its second infrastructure debt fund, which targets investments in utilities, energy, and transport in OECD countries. The firm is in the process of fundraising for its latest vehicle, which has a target of $2 billion.

In addition to its Sydney and New York office, AMP has offices based in Chicago, London and Hong Kong. The firm invests in infrastructure debt and equity and as of 30 June 2016 had A$160 billion (€107 billion; $120 billion) in assets under management.