A new US$2bn fund will be launched early in 2008, which will seek to make investments in infrastructure assets primarily in Europe but will also, where appropriate, invest in Asia and the US.
Prior to this appointment Vineburg was Global Head of Infrastructure Investment at Colonial First State Global Asset Management, the investment management arm of Commonwealth Bank of Australia. According to CVC he has been a pioneer of infrastructure investment managing portfolios of investments in toll roads, railways, airports and water, gas and electricity businesses for institutional clients since 1994. He has been responsible for a global portfolio which in Europe includes investments in the Inexus Group, Anglian Water Group and the recently announced acquisition of the Norweb electricity distribution business.
Michael Smith comments, “CVC is committed to broaden its range of Alternative Asset classes, and infrastructure is a sector that has potential to see substantial growth. The sector is very complementary to CVC’s private equity activities, and the business will benefit from CVC’s network, and connections. We are delighted to welcome Stephen Vineburg as the Chief Executive of this new venture.”