Citigroup targets US$3bn infrastructure fund

Citi Alternative Investments (CAI), part of Citigroup, has announced the creation of- Citi Infrastructure Investors (CII).

According to sources it is currently in the process of raising a circa US$3bn fund for investment in infrastructure opportunities in North America and Western Europe. Citigroup is thought to be investing circa US$500m plus with the rest if the commitments coming from six to twelve third party institutions.

CII will be co-headed by Juan Bejar and Felicity Gates, each of whom has more than 15 years of experience in direct infrastructure investing and in managing infrastructure assets.

Bejar comes to CII from Ferrovial Infrastructure in Spain, where he served as Chief Executive Officer. He most recently was also Executive Vice-Chairman of Cintra, General Manager of Ferrovial Airports and Non-executive Director of BAA.

Gates joins CII from Deutsche Bank, where she was Head of RREEF’s North America Infrastructure Business.

“This new initiative will greatly complement the management of our existing asset classes – private equity, hedge funds, real estate and structured products,” said Lew Kaden, interim CEO of Citi Alternative Investments. “Juan, Felicity and the rest of the team bring unmatched capabilities to this sector, including deep experience in making principal investments in this area and in enhancing the operational efficiencies of the underlying infrastructure assets.”

Sandrine Bradley