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’s A$8bn (€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.
“Our expansion into funds management is a natural evolution in the development and growth of our infrastructure activities,” Lamming said. “It is a logical step in the growth and maturity of Plenary as Australia’s leading infrastructure investor, developer and manager as we look to become a full-service diversified infrastructure business.”
An AMP spokesperson confirmed that the company had received an unsolicited proposal from Plenary for CommIF, adding: “The responsible entity board has established an independent board committee to ensure the proposal is appropriately reviewed in the best interests of all investors.”
Plenary declined to comment on its approach to AMP Capital for the fund.
A source told IPE Real Assets that CommIF would be “a great fit” within the Plenary Group’s 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’s role in overseeing CommIF, while Charles Savage continues as portfolio manager.