Press releases
LGIM appoints new Head of Infrastructure Debt
Legal & General Investment Management (“LGIM”) announces today, on behalf of its Real Assets platform, that it has appointed John Carey as Head of Infrastructure Debt, Europe – as it continues to strengthen its infrastructure offering. John will report to Calum Macphail, Head of Private Credit Investment, Europe at LGIM.
16 May 2023
Legal & General Investment Management (“LGIM”) announces today, on behalf of its Real Assets platform, that it has appointed John Carey as Head of Infrastructure Debt, Europe – as it continues to strengthen its infrastructure offering. John will report to Calum Macphail, Head of Private Credit Investment, Europe at LGIM.
John will lead the Infrastructure Debt team in Europe, which currently consists of six people managing £3.6bn of AUM in the UK and Europe*, and will work in conjunction with Charles-Henry Lecointe, Head of Infrastructure Debt, North America, to accelerate LGIM’s global infrastructure debt. John will also support the Private Credit management team in the formulation of its investment strategy for European borrowers, as part of the team’s ambition to bring in new investment opportunities for clients, including pension funds, insurance companies and consultants.
Previously, John spent over eight years at IFM Investors, most recently as Executive Director, Debt Investments where his role focused on deploying institutional capital into pan-European infrastructure debt. Prior to this, he held numerous infrastructure focused roles with Moody’s, Barclays, FGIC and KPMG.
Calum Macphail, Head of Private Credit Investment, Europe, LGIM Real Assets: “John’s appointment will be instrumental in us continuing to aim to drive sustainable value for our clients, as well as supporting L&G’s alternatives ambitions. As our infrastructure debt capabilities grow across the UK and Europe, we have the opportunity to invest in the building blocks of society. Offering a proven lower correlation both to economic cycles and other asset classes, infrastructure debt has the potential to deliver reliable, secure income over the long term, often with inflation linkage. We believe we can offer attractive benefits for investors who are striving to meet their medium to long-term liabilities as well as gain access to private markets.”
John Carey, Head of Infrastructure Debt, Europe at LGIM Real Assets: “I’m joining the LGIM Real Assets team at such an integral point of expansion, as it looks to broaden its private credit offering in Europe and North America. The infrastructure debt team is undoubtedly key to delivering on our clients’ appetite for diverse private credit portfolios; with a consistent track record, deep sector expertise and a growing portfolio of assets, we look forward to building momentum in the infrastructure debt space.”
LGIM Real Assets platform has more than 45 people in its European and US debt teams managing a total of £16.5bn in AUM across its private credit strategies*. Its US and UK-based investment teams benefit from decades of industry expertise and close relationships with key market participants. More broadly, LGIM Real Assets continues to scale-up its infrastructure offering across the capital stack, with Carey’s appointment following the recent first close of the platform’s first infrastructure equity raise.
*As at 31 March 2023. Source: LGIM
Further information
Jessye Brandon
Senior PR Executive
LGIM Real Assets
T: 07584498775
Notes to editors
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management1 of which 40% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
1Data as at 31 December 2023.
LGIM is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.2 trillion1 ($1.5tn, €1.3tn, CHF 1.2tn). We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
For more than 50 years, we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property, and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
1Data as at 31 December 2023. Data combines assets under management by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. Assets under management include securities and derivatives positions.
LGIMRA is a division of Legal & General Investment Management (LGIM), one of Europe’s largest
institutional asset managers and a major global investor. LGIM manages £1.29 trillion1 ($1.57tn) in
assets, working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
LGIM Real Assets has assets under management of £36 billion2 ($43.8bn) and is one of the largest
private markets investment managers in the UK. Investing in both debt and equity and across the
risk/return spectrum, LGIM Real Assets actively invests in and manages assets across commercial,
operational and residential property sectors, as well as infrastructure, real estate, corporate and
alternative debt.
Taking a long-term view in order to future proof our investments, LGIM Real Assets continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level.
1LGIM internal data as at 30 June 2022. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions.
2Source: LGIM Real Assets. AUM data as at 30 June 2022.
*at 13 Jan 2023
IMPORTANT INFORMATION
For professional clients only. Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. Views expressed are of LGIM as at 12 January 2023. The Information in this document (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Legal & General Investment Management Limited. Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA. Authorised and regulated by the Financial Conduct Authority, No. 119272.