Tribeca preps billion-dollar war chest for listed infra; Asian SWF in
Tribeca Investment Partners is set to extend its dominance from resources stocks to infrastructure names, as it reels in a big-ticket Asian sovereign wealth fund with a freshly minted fund.
Susanta Mazumdar joined Tribeca earlier this year and will lead TAIF.
Street Talk understands a deep-pocketed sovereign wealth fund has written a sizeable cheque for the Tribeca Asian Infrastructure Fund (TAIF), which is said to have an initial capacity of $1 billion and has quietly built a heavyweight investment team.
The identity of the investor or its ticket size were not known, and Tribeca declined to comment. But industry sources pointed to one of the world’s top sovereign wealth funds, Singapore’s GIC, as the logical candidate. Broker sources said TAIF’s new client had given it enough firepower to play as a cornerstone investor in listed pipeline group’s APA Group’s $675 million placement last week.
Steering the ship is portfolio manager Susanta Mazumdar, who previously ran Asia’s largest infrastructure fund at Invesco and set up T. Rowe Price’s Global Infrastructure Fund. He’s spent more than three decades in markets, split evenly across buy-side and sell-side.
Mazumdar is joined by co-portfolio manager Ragu Sivanesarajah, who was most recently at Singapore’s Forge Investment Management. He formerly worked for AMP, Maple-Brown Abbott and BT.
Rounding off TAIF’s team is Tarun Bhatnagar, who joined from Singapore’s Tokio Marine Asset Management and Nicola Mok from a Temasek-related company SeaTown Holdings. The team would be based in Singapore, although Sivanesarajah who would work out of Sydney.
They intend to run a portfolio with about 40 stocks, across 10 Asian markets. The fund’s mandate allows it to invest in energy
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