infrastructure

The firm has backed a deal in which the Chinese insurance giant used infrastructure fund stakes as seed assets to launch a fund of funds and co-investment strategy.

Ron Heinz, who joins from niche secondaries firm Sweetwater Capital, is one of five appointments made by the firm in the second half of last year.

Golding Infrastructure 2018 will invest in around 15 infrastructure funds via primaries and secondaries.

Speaking on a Secondaries Investor podcast, the advisory firm and placement agent's chief executive noted that the quality of the manager can negate a drop in pricing caused by staple offers.

The close comes after a ‘strict and intellectually rigorous process’ to move assets from the group’s first fund, according to chief investment officer Carlo Michelini.

The closing of Manulife Financial's stapled deal in June – among the largest in North America this year – is further evidence that large asset holders and managers have a third option for their assets.

The growing number – and size – of primary infrastructure vehicles will help fuel secondaries growth, according to Campbell Lutyens.

Partners Group Global Infrastructure 2018 is targeting €1bn and has a 60% allocation to primaries and secondaries.

The investment, which does not give Landmark an ownership stake, will allow Stonepeak to expand its credit business.

PE head David Layton is to replace Christoph Rubeli as co-CEO of the Swiss alternative investment manager.