Infracapital is a stable team of highly skilled infrastructure specialists with extensive experience across financial and industrial backgrounds bringing investment, management and operational expertise

Executive Committee

Martin Lennon

Co Founder and Head of Infracapital

Martin Lennon has been the Head of Infracapital since its inception, and has over 25 years’ infrastructure, project finance and investment experience

<h2>Martin Lennon</h2>

Prior to founding Infracapital, Martin led the Project & Infrastructure Finance business at M&G, having joined the company in 1998. He developed a substantial and diversified business investing in infrastructure across a range of financial instruments including public bonds, private placements, loans, mezzanine and equity. Martin played a key role in the creation and development of the first secondary market PFI fund, the M&G Innisfree PPP Fund ("IMPPP") in 2002.

Martin chairs the Investment Committee of Infracapital and the Investment & Steering Committee of IMPPP. Martin also sits on the advisory board of a number of other infrastructure funds where the Prudential Group has investments. Prior to joining M&G, Martin worked in the infrastructure and project finance divisions of AMEC Plc and Brown & Root Limited.

Martin is a Chartered Management Accountant and is approved on the Financial Services Register to undertake the CF30 controlled function.

Ed Clarke

Co Founder and Director

Ed Clarke co-founded Infracapital with Martin Lennon, and has over 25 years of infrastructure, project finance and investment experience

<h2>Ed Clarke</h2>

Ed joined the Project & Infrastructure Finance business at M&G in 2001 to build out the infrastructure equity investment side of the business with Martin.  Ed also worked on the establishment of the Innisfree M&G PPP Fund ("IMPPP") in 2002 and continues to sit on the Investment & Steering Committee of IMPPP.  Prior to joining M&G, Ed worked at Societe Generale where he was responsible for structuring and arranging capital markets issue to fund infrastructure projects. Before this, Ed was a leading member of the Hambros Bank infrastructure advisory team where he also set up their infrastructure advisory business in South Africa.

Ed holds an MA from Edinburgh University and is approved on the Financial Services Register to undertake the CF30 controlled function.

Milton Fernandes

Finance Director

Milton Fernandes joined Infracapital in January 2009 as Director responsible for Finance and Administration. Milton has over 20 years’ experience in infrastructure investment

<h2>Milton Fernandes</h2>

Milton is a member of the Infracapital Investment Committee and the Management Board of the IMPPP Fund. Prior to Infracapital, Milton was Finance Director of Innisfree Limited, a specialist infrastructure PFI/PPP investor, where he was responsible for all aspects of finance, taxation, compliance and fund administration.  He also held Board positions on a number of portfolio companies in the Health and Education sectors.

After qualifying as a Chartered Accountant in 1986, Milton joined Ernst & Young where he worked for over six years up to Senior Manager level in the Audit and Assurance group. Milton’s clients were principally in the Real Estate, Life Assurance and Automotive sectors.

Milton is a fellow of the Institute of Chartered Accountants in England & Wales and approved on the Financial Services Register to undertake the CF30 controlled function.

Transaction team

Mark Chladek

Transaction Director

Mark Chladek joined Infracapital when it was founded in 2005. Mark has 17 years’ experience across infrastructure M&A, project finance, investment and financial markets

<h2>Mark Chladek</h2>

Mark is a member of the Infracapital Investment Committee and the Investment & Steering Committee of IMPPP.

Mark was previously in Ernst & Young’s Infrastructure Finance team where he was a financial advisor on infrastructure projects and transactions across sectors including airports, ports, roads, hospitals, prisons and secondary market PFI transactions. Prior to this Mark worked in JP Morgan’s fixed income derivatives team and qualified as a Chartered Accountant with Deloitte in 1997.

Mark has an honours degree in Mathematics from Warwick University and is approved on the Financial Services Register to undertake the CF30 controlled function.

Mathieu Lief

Transaction Director

Mathieu Lief joined Infracapital in 2007 and has 17 years’ experience in infrastructure M&A and project finance

<h2>Mathieu Lief</h2>

Prior to this, Mathieu was a Senior Vice President in the London utility advisory team of Dresdner Kleinwort where he advised on a large number of public and private transactions involving utility assets for various infrastructure funds. Mathieu also worked in Dresdner Kleinwort’s Paris M&A team covering French utility and transport companies.

Mathieu holds a Masters degree in Accounting and Finance from the University of Birmingham and a Masters degree in International Economics and Finance from the University of Bordeaux.

He is also approved on the Financial Services Register to undertake the CF30 controlled function.

Alberto Signori

Transaction Director

Alberto Signori joined Infracapital in 2012 and has over 20 years’ experience across banking and audit/transaction services

<h2>Alberto Signori</h2>

Alberto joined from Commerzbank (formerly Dresdner Kleinwort) where he was Global Co-Head of Utilities and Infrastructure in the M&A team. Here he was responsible for providing advice on equity and debt transactions to corporates and financial sponsors in the European energy and infrastructure sectors.  Prior to this Alberto was a Director in the M&A division of UBS and Senior Auditor at KPMG Italy.

Alberto is a Certified Accountant and holds an MBA from SDA Bocconi. He is also approved on the Financial Services Register to undertake the CF30 controlled function.

Andy Matthews

Greenfield Director

Andy Matthews joined Infracapital in 2015 to lead its greenfield infrastructure investment activities. Andy has over 30 years’ of infrastructure financing, development and asset management experience

<h2>Andy Matthews</h2>

Prior to joining Infracapital, Andy was a Partner in 3i plc’s infrastructure team. He was responsible for origination in greenfield and brownfield PPP, renewable energy and core infrastructure sectors. Andy transferred to 3i plc following their acquisition of Barclays Infrastructure Funds Management, where he was the Managing Director and Chief Investment Officer. Before joining Barclays, Andy worked in infrastructure development roles at John Laing and Alfred McAlpine.

Andy holds an MBA from Manchester Business School and graduated from Nottingham Trent University with a BSc (Hons) in Quantity Surveying. He is a Fellow of the Royal Institute of Chartered Surveyors, the Chartered Institute of Arbitrators and was a Member of the Advisory Board of Association of Consultants and Engineers from 2005 to 2011.

Michele Armanini

Greenfield Director

Michele Armanini joined Infracapital in 2015 to develop its greenfield infrastructure investment activities. Michele has 14 years’ of infrastructure financing, development and asset management experience

<h2>Michele Armanini</h2>

Michele joined Infracapital from 3i plc where he was a Director in the infrastructure team. He was responsible for origination, execution and asset management of infrastructure investments across sectors including energy transmission and generation, accommodation and transport throughout Europe. Michele transferred to 3i plc following their acquisition of Barclays Infrastructure Funds Management, where he was an Investment Director. Before that he worked in the energy project finance team of SMBC.

Michele holds an MSc degree in Physics from the University of Milan. He is also approved on the Financial Services Register to undertake the CF30 controlled function.

Joanne Horridge

Transaction Legal Director

Joanne Horridge joined Infracapital in 2007, where she has primary responsibility for legal affairs

<h2>Joanne Horridge</h2>

Prior to joining Infracapital, Jo was a Partner in the banking and finance department at Denton Wilde Sapte. Jo has extensive experience of infrastructure transactions, including project financings and acquisition financings across various markets, including social and core infrastructure. She has worked on a number of high profile acquisitions of equity stakes in the secondary market for infrastructure assets and the financings and refinancing of numerous underlying investments. She has also been involved in the structuring and financing of funds investing in the infrastructure market.

Jo is a Solicitor and holds an MA (Honours) from Cambridge University.

James Harraway

Transaction Director

James Harraway joined Infracapital in 2014 and has over 10 years’ experience in infrastructure investment and M&A

<h2>James Harraway</h2>

James joined from CVC Capital Partners where he was an Investment Director in the infrastructure team, focused on sourcing and executing transactions in the transport, utilities, and telecoms infrastructure sectors across Europe.  Prior to this he worked in the M&A team at Deutsche Bank.

He is a qualified Chartered Accountant, and holds a BA in Economics from Manchester University.

Ameer Hamza Khan

Transaction Associate Director

Hamza Khan joined Infracapital in 2013 and has 11 years’ infrastructure finance experience

<h2>Ameer Hamza Khan</h2>

Prior to this, Hamza spent over seven years at Citigroup Investment Bank based in London. Hamza was a member of the Citi Power & Utilities Investment Banking team for six years providing advice to clients on M&A, equity and debt transactions in Europe, Middle East and Africa. He was a member of the Citi European Leverage Finance and High Yield Origination team for a year raising debt financing for non-investment grade rated corporates and financial sponsor leverage buyouts from the banking and High Yield bond markets (including own lending and underwriting by Citi).

Hamza holds a First Class Honours degree in Economics from the London School of Economics (LSE).

Thomas Crawley

Transaction Associate Director

Thomas Crawley joined Infracapital in 2015 and has over 9 years’ infrastructure investment experience

<h2>Thomas Crawley</h2>

Thomas joined from Ontario Airports Investments Limited (OAIL), a wholly controlled subsidiary of Ontario Teachers’ Pension Plan (OTPP). At OAIL, Thomas gained extensive experience working across transactions (both transport and non-transport sectors), refinancings and asset management. He held board observer positions at a number of OTPP’s portfolio companies. Previously he worked for MAp Airports, an airport investment fund that was spun off from Macquarie. Thomas started his career with Macquarie in London.

Thomas holds a First Class Honours degree in Economics and Politics from the University of Exeter. He has also passed Level 2 of the CFA Program.

John Xu

Transaction Associate Director

John Xu joined Infracapital in 2016 and has over 8 years of infrastructure investment experience

<h2>John Xu</h2>

Prior to this, John spent over seven years at Hastings Fund Management based In Melbourne, Sydney and London focusing on infrastructure transactions and debt re-financing across the transport, utilities and renewable sectors in Europe and Australia.

John holds a Bachelor of Commerce from University of Melbourne and is a Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA).




Peter Mitchev

Transaction Associate Director

Peter Mitchev joined Infracapital in 2015 and has 8 years of finance experience

<h2>Peter Mitchev</h2>

Peter joined Infracapital from RBC Capital Markets’ Utilities & Renewables team where he spent three years focusing on M&A and financing transactions across regulated utilities and midstream oil & gas infrastructure. Peter has also worked at HSBC and KPMG where he qualified as a chartered account.

Peter holds a First Class degree in Economics and Accounting from the University of Bristol.

Ben Francis

Greenfield Associate Director

Ben Francis joined Infracapital in 2016 to develop its greenfield infrastructure investment and asset management activities. Ben has over 15 years’ of infrastructure financing, development and asset management experience

<h2>Ben Francis</h2>

Ben joined the team from Arup where he was an Associate Director in the Business and Investor Advisory team, responsible for advising on the development and investment of infrastructure projects and businesses, totalling over $15bn, in Europe and Africa. Earlier in his career, Ben was a member of the Arup site development team responsible for advising clients on the development of greenfield infrastructure projects from acquisition, concept design through to construction.

He holds a Masters of Engineering from Nottingham University, and is a Chartered Engineer and Member of the Institution of Civil Engineers.

Andreas Bäckman

Transaction Senior Associate

Andreas Bäckman joined Infracapital in 2014 and has 6 years’ experience across infrastructure M&A and finance

<h2>Andreas Bäckman</h2>

Prior to joining Infracapital, Andreas was a member of the Barclays Power, Utilities & Infrastructure Investment Banking team for more than three years providing advice to clients on M&A, equity and debt transactions. During this time, Andreas specialised in regulated assets with particular focus on Northern Europe. Andreas also has experience working in the DCM and Equity Derivatives Origination team at Citi as well as with an investment management firm focusing on Scandinavian buyouts.

Andreas holds a First Class Honours degree in Industrial Economics from the University of Nottingham.

Mohit Varma

Greenfield Senior Associate

Mohit Varma joined Infracapital in 2014 and has 4 years’ experience in infrastructure finance.

<h2>Mohit Varma</h2>

Prior to joining Infracapital, Mohit worked in the Infrastructure team of Macquarie Capital, covering financial advisory and principal investment transactions primarily in the renewables and PPP sectors. Mohit was heavily involved in UK offshore transmission assets (OFTOs) and worked on a range of greenfield projects including German offshore wind, UK solar and tidal energy. Mohit’s main responsibilities included financial modelling and interacting with advisors, funders and regulators.

Mohit holds a degree in Economics and Management from Oxford University.

Christopher Simmonds

Transaction Legal Senior Associate

Chris joined Infracapital in 2015 and is the Transaction legal Senior Associate

<h2>Christopher Simmonds</h2>

Christopher joined Infracapital in 2015 and is a member of the legal team. His work includes transaction scoping, due diligence, execution with the Transaction team, involvement in various aspects of the portfolio and managing external legal relationships. He has experience in a wide range of infrastructure transactions.

Prior to joining Infracapital, Christopher was an infrastructure and projects lawyer at Hogan Lovells in London, having joined in 2007. Christopher holds a BA in Jurisprudence from the University of Oxford.

Asset Management

Stephen Nelson

Asset Management Director

Stephen Nelson joined Infracapital in 2013 and is the asset manager responsible for Alticom and Red Funnel

<h2>Stephen Nelson</h2>

Stephen has more than 15 years of operating and main board experience encompassing transport infrastructure, regulation as well as extensive experience of consumer businesses.  Stephen was Chief Executive of BAA Ltd between 2006 and 2008 when it was the UK’s leading owner and operator of airports including Heathrow, Gatwick and Stansted.  Prior to this he was Group Retail Director at BAA.   Before joining BAA, Stephen was Group Marketing Director and Group Trading Director at J. Sainsbury plc. Currently, he is also a Non-Executive Director of the Office of Rail Regulation.

Stephen has an MA (First Class Honours) from Oxford University.

Steve Johnson

Asset Management Director

Steve Johnson joined Infracapital in 2016 and is the asset manager responsible for Adven, GGE and Zephyr

<h2>Steve Johnson</h2>

Steve brings extensive commercial and technical experience with 35 years in the energy and utility sectors, most recently as CEO of Electricity North West, a position he held for eight years. Previously he was Managing Director of Morrison Utility Services, which followed 17 years at United Utilities. Steve was Non–Executive Director of South West Water and Energy Networks Association where he was Chairman from 2011 to 2014.

Steve was awarded an MBE in 2016 for services to energy networks. He holds an MSc from the University of Manchester Institute of Science and Technology and an HND in Electrical Power from Bradford College.

Max Helmore

Asset Management Associate Director

Max Helmore joined Infracapital in 2011 and is dedicated to the Alticom, Calvin and Red Funnel investments

<h2>Max Helmore</h2>

Prior to joining Infracapital, Max worked in the Business Recovery Services department of PricewaterhouseCoopers where he advised stakeholders on the financial restructuring of businesses in a variety of sectors, including retail, hotels and paper. Whilst at PricewaterhouseCoopers, Max also spent a year on secondment in RBS’s Leveraged Finance Portfolio team, where he was responsible for a portfolio of infrastructure and leveraged finance debt across a range of sectors.

Max holds a degree in History from the University of York and is a qualified Chartered Accountant.

Georgina Dellacha

Asset Management Associate Director

Georgina Dellacha returned to join Infracapital as an Associate Director in 2016 and is dedicated to the Adven, Affinity and Red Funnel investments

<h2>Georgina Dellacha</h2>

Prior to joining Infracapital, Georgina spent three years in the Business Development division of GMR Infrastructure, one of the largest infrastructure investors in India focusing on airports and power generation opportunities. Georgina also worked for The World Bank in Washington DC advising governments on how to promote private sector investment in infrastructure services.

Georgina holds a Law degree from Universidad Austral in Buenos Aires and an MIA in International Business from Columbia University in New York.

Nikolaus Roessner

Asset Management Associate Director

Nikolaus Roessner joined Infracapital in 2013 and is dedicated to the Gruppo Portuali Investimenti (GIP), Infram Energy, Kelda and FEAB investments

<h2>Nikolaus Roessner</h2>

Prior to joining Infracapital, Nikolaus worked at M&G Investments where he was responsible for the credit analysis and valuation of alternative investments, including real estate debt finance, bridge loan financing for infrastructure projects and direct lending to SMEs. Nikolaus has experience across several sectors, including infrastructure, real estate and retail & consumer, having also previously worked as a strategy analyst in the apparel industry.

Nikolaus holds a CPGS and an MPhil (First Class Honours) from Cambridge University and a BA (HSG) from the University of St. Gallen in Switzerland.

Nicolas Macke

Asset Management Associate

Nicolas joined Infracapital in 2016 and has over five years’ of infrastructure modelling experience

<h2>Nicolas Macke</h2>

Prior to joining Infracapital, Nicolas was working in the financing modelling team of Grant Thornton UK LLP, building and reviewing financial models for transportation, housing and energy projects in the UK and in Qatar. Nicolas’ previous experience includes working for a boutique transaction advisor providing due diligence services and performance monitoring for project finance deals.

Nicolas holds a Masters from the Institut d’Etudes Politiques de Paris (Sciences Po) as well as a MSc in Local Economic Development from the London School of Economics. He is a CFA Level 3 Candidate.

Investor Relations

Carolyn Pearce

Investor Relations Director

Carolyn joined Infracapital in 2010 and is responsible for communications and reporting to Limited Partners and fundraising efforts

<h2>Carolyn Pearce</h2>

Prior to joining Infracapital, Carolyn was a Senior Associate Director at Goldman Sachs (New Zealand) having spent the previous six years after joining from Deloitte. Carolyn has a broad range of experience across client coverage, advisory and transaction execution. In addition to investor relations engagements, she also worked on a large number of transactions across both M&A advisory and capital markets processes across a wide range of industries.

Carolyn holds an Executive MBA from the University of Oxford and a BCom (First Class Honours) in Finance and Economics from the University of Auckland. She also holds the Chartered Financial Analyst (CFA) designation and is approved on the Financial Services Register to undertake the CF30 controlled function.

Ella Pinney

Investor Relations Associate Director

Ella joined Infracapital in 2013 and focuses on communication to LPs and fundraising efforts

<h2>Ella Pinney</h2>

Prior to joining Infracapital, Ella was a Senior Executive in the Infrastructure Finance team at Ernst and Young, where she spent six years advising on M&A transactions and project financings in the renewable energy sector.

Ella holds a first class honours degree in Economics and Management from the University of Leeds and is a qualified Chartered Accountant.

Elizabeth Pool

Investor Relations Senior Associate

Elizabeth joined Infracapital in 2015 and focuses on communication to LPs and fundraising efforts

<h2>Elizabeth Pool</h2>

Prior to joining Infracapital, Elizabeth was an Assistant Vice President at Barclays Bank plc, where she spent time in Structured Capital Markets Finance and Business Planning and Analysis. 

Elizabeth qualified as a Chartered Accountant at Ernst & Young in the M&A Tax Department where she worked on buy and sell side due diligence projects and international tax structuring for private equity and corporate clients.  She holds a BSc in Accounting and Finance from the University of Warwick.

Wilf Bagnall

Investor Relations Associate

Wilf joined Infracapital in 2016 and focuses on communication to LPs and fundraising efforts

<h2>Wilf Bagnall</h2>

Prior to joining Infracapital, Wilf was on the M&G Investments Commercial Management Graduate Scheme, working across multiple departments, including Fixed Income, Equities and Retail, as well as within the Prudential Portfolio Management Group.

Wilf holds a degree in Geography from Cambridge University and spent a year studying Management at the Judge Business School.  He has completed the Investment Management Certificate.

Finance

Daniela Corradi

Finance Associate Director

Daniela joined Infracapital in 2010 as Fund Accountant to support Milton Fernandes in the Finance function

<h2>Daniela Corradi</h2>

Prior to joining Infracapital, Daniela worked at Vantis plc (subsequently Beavis Morgan LLP) after working over four years in audit primarily on regulated clients.

Daniela holds a degree in Mathematics from Kings College London and is a qualified Chartered Accountant.

John Bell

Finance Associate

John joined Infracapital in 2015 as a member of the Finance Team

<h2>John Bell</h2>

Prior to joining Infracapital, John was in the Audit department at PricewaterhouseCoopers where he worked on Financial Services clients.

John holds a degree in Physics from Durham University and is a qualified Chartered Accountant.

Portfolio Management

Helen Tang

Portfolio Management Senior Associate

Helen joined Infracapital in 2015 and is responsible for fund valuations and performance analysis

<h2>Helen Tang</h2>

Prior to joining Infracapital, Helen worked in the Energy, Utilities, Mining and Infrastructure Valuations team of PricewaterhouseCoopers, where she spent more than three years providing valuation advice for transactions, financial reporting, expert determination and fairness opinion purposes.

Helen holds a First Class Honours degree in Statistics, Economics and a Language (Spanish) from University College London. Helen is a chartered accountant and also holds the Chartered Financial Analyst (CFA) designation.