Julie-Anne Mizzi, global head of social care at AMP Capital, is to join Plenary Group to lead a new Australian and New Zealand fund management arm at the infrastructure specialist.
The appointment comes as Plenary attempts to take over the management of AMP Capital鈥檚 A$8bn (鈧�5.1bn) Community Infrastructure Fund (CommIF) which Mizzi oversaw.
Plenary CEO David Lamming said Mizzi would be tasked with establishing and growing a boutique funds management business that complemented its existing infrastructure investment and management activities. The company invests in, develops and manages 71 public infrastructure assets worth more than A$44bn across Australia, Canada and the US.
鈥淥ur expansion into funds management is a natural evolution in the development and growth of our infrastructure activities,鈥� Lamming said. 鈥淚t is a logical step in the growth and maturity of Plenary as Australia鈥檚 leading infrastructure investor, developer and manager as we look to become a full-service diversified infrastructure business.鈥�
An AMP spokesperson confirmed that the company had received an unsolicited proposal from Plenary for CommIF, adding: 鈥淭he responsible entity board has established an independent board committee to ensure the proposal is appropriately reviewed in the best interests of all investors.鈥�
Plenary declined to comment on its approach to AMP Capital for the fund.
A source told 麻豆映画 Real Assets that CommIF would be 鈥渁 great fit鈥� within the Plenary Group鈥檚 existing business and portfolio, and that it made sense for a specialist infrastructure investor, developer and manager like Plenary to manage the fund.
Mizzi is to join Plenary in September.
Michael Bessell and Michael Cummings, co-heads of infrastructure equity, Australia and New Zealand at AMP Capital, will take over part of Mizzi鈥檚 role in overseeing CommIF, while Charles Savage continues as portfolio manager.
