Cezary Podkul

Phil Burkhardt joined the firm as an asset manager, bringing the total number of members on its energy infrastructure team to 11. First Reserve infrastructure head Mark Florian expects the team to grow to 14 by year’s end as the firm goes about ‘building out some really good investments’.

Infrastructure funds raised $5.9bn globally, or more than half the 2009 total and more than three times the total for the same period last year. If the momentum continues, infrastructure fundraising could eclipse the 2009 total by the first half of this year, according to Probitas Partners.

The development institution is about half-way through the $300m its Infrastructure Department was authorised to invest in such funds, but may allocate further capital later this year when an ambitious $3bn renewables investment target for the next three years target kicks in.

Henning Eckermann, the Swiss alternatives manager’s chief economist, warned investors gathered at the Infrastructure Investor: Europe 2010 forum that developed markets face 75% chance of inflation in the range of 5% to 7%. As a hedge, he recommended they increase their exposure to real assets.

The sale, expected to net the Macquarie International Infrastructure Fund about $171m, will be a ‘significant milestone’ for the firm, according to CEO John Stuart, because it will mean its portfolio will comprise entirely of direct investments in Asian infrastructure assets.

Chris Pietersen will become vice president in investor relations and co-investment in the energy-focused firm's London office.

Susan Healy, a veteran of Babcock & Brown and The Carlyle Group, assumed the position effective this month. In related news, First Reserve hired Chris Pieterson of CP Eaton as vice president in investor relations and co-investment in the firm’s London office.

The infrastructure market is too underdeveloped to be worth the risk, the $30.5bn pension said, deciding to hold off on committing to the asset class.

The proceeds will be used to finish construction on the company’s Alta Wind I project in Tehachapi, California. Credit Agricole and Natixis acted as co-bookrunners and co-structuring Leads for the financing. GIP bought a 40% interest in Terra-Gen last year, marking its first renewables investment.

The pension is also planning on making $400m of direct investments in infrastructure in 2010 as it further builds up a team to make such investments, according to a presentation prepared for the investment committee of the $205.8bn pension.