Principal AM unveils private infrastructure debt capability
Principal Asset Management has appointed a head of infrastructure debt to lead its new private infrastructure debt capability.
The asset management firm has announced the appointment of Mansi Patel as senior managing director and head of infrastructure debt.
She joins with nearly 20 years of experience in the investment space. This includes 18 years at MetLife Investment Management as managing director, head of infrastructure debt and project finance across the North America, Latin America and APAC regions.
In her new role, Patel will lead the newly created private infrastructure debt investment team. She will also oversee the launch and implementation of Principal’s new private infrastructure debt capability.
The solution will focus on investing in a diversified portfolio of private infrastructure debt and will target thematic investments in globalisation, decarbonisation and electrification. It seeks to generate a higher risk premium relative to its public market sector equivalent, while benefiting from consistently lower default risk and more favourable debt characteristics to non-financial corporate sectors.
Todd Everett, global head of private markets at Principal Asset Management, said the launch of the new capability comes at an “opportune time” for investors given the market forces driving capital needs in all infrastructure sectors.
“Constraints in traditional bank funding have opened the door for private investors to fill the financing gap. This capability will allow investors to access an opportunity set that offers defensive cash flows, lower default risk and exposure to critical investment themes like decarbonisation, electrification and digitalisation,” he explained.
According to Patel, private infrastructure debt can play an important role in portfolio construction for both institutional and retail investors, and can offer stability and enhanced returns.
“This makes it an exciting time to join Principal Asset Management, a leader in innovative and diversified investment solutions, and lead the new private infrastructure debt capability, which will be a compelling addition to the firm’s already strong private market line-up,” she commented.
The asset manager currently services over 1,100 institutional clients in more than 80 markets, as at 31 March 2024.
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Jasmine Siljic
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