IIG will focus exclusively on the infrastructure asset class and offers institutional investors fund of funds, co-investment and secondary strategies that provide global, diversified exposure to unlisted infrastructure investments.
Joe Lyons, Nancy Mangraviti, Matthew McPhee and Whit Porter have joined RBC GAM (US) to launch this new initiative. The team brings together seasoned professionals from State Street Global Advisors (SSgA), Macquarie and Bank of America, all of whom had previously worked together at SSgA.
RBC GAM comprises the three asset management firms owned by Royal Bank of Canada (RBC): RBC GAM (US), RBC Asset Management and Phillips, Hager & North Investment Management.
John Montalbano, CEO of RBC GAM, said: “The new team brings an additional depth of expertise in an important asset class. Financial firms and institutional clients are showing increased interest in infrastructure as an asset class due to its distinct investment characteristics of long-lived assets and inflation-linked, stable operating cash flows.
“Additionally, returns that are uncorrelated to other asset classes are extremely attractive to institutional investors seeking diversification. With IIG in place, our institutional clients will have enhanced access to an expanded range of investment solutions.”
RBC GAM is part of RBC Wealth Management, which directly serves affluent and high net worth clients in Canada, the US, Latin America, Europe and Asia with a full suite of investment, trust and other wealth management solutions.
