Macquarie Infrastructure and Real Assets has made an experienced hire in its fledgling infrastructure secondaries team.
Bing Wong joined the firm as a senior vice-president towards the end of last year, said managing director Wandy Hoh. He will be responsible for sourcing, executing and monitoring GP-led and LP-led investments, moving from San Francisco to New York to take up the job.
Wong comes from Pantheon, where he was a principal working across primary, secondaries and co-investments. Previous roles include a five-year stint with private equity secondaries firm Paul Street Capital.
“Bing’s extensive experience and deep understanding of the needs of investors will be invaluable as we continue to expand our team and capabilities,” said Hoh.
Bing’s LinkedIn profile has been updated to reflect the move.
Secondaries Investor reported in April that Hoh had joined Macquarie to lead the build-out of an infrastructure secondaries team. She came from infrastructure investor Glenfarne Group, having been at secondaries shop DLJ/Credit Suisse Strategic Partners, now a part of Blackstone, between 1999 and 2006.
The team also comprises vice-president Bryan Beach, who joined in April from US mid-market secondaries shop Newbury Partners.
Secondaries Investor understands that Macquarie intends eventually to raise third-party capital. The firm would not comment on its fundraising plans.
Macquarie was one of several household names to enter the secondaries market over the past 18 months, including Apollo Global Management, Manulife Investment Management, TPG and Brookfield Asset Management, Secondaries Investor reported.
The Sydney-headquartered firm has A$737 billion ($523 billion; €462.8 billion) in assets under management across infrastructure, renewables, real estate, agriculture, transportation finance, private credit, equities and other asset classes.