Principal® Announces Launch of New Private Infrastructure Debt Capability Aimed at Providing Safety, Stability, and Enhanced Returns Amidst a Constrained Financing Market
15 May 2024 - 11:00PM
Business Wire
Mansi Patel joins as head of infrastructure
debt
Principal Asset Management℠ today announced the launch of its
new private infrastructure debt capability (the capability) and the
hiring of Mansi Patel as senior managing director, head of
infrastructure debt to lead its launch and implementation. This new
capability adds to the firm’s long-standing expertise in public
listed infrastructure, real estate debt, and alternative
credit.
The capability will focus on investing in a diversified
portfolio of private infrastructure debt, targeting thematic
investments in globalization, decarbonization, and electrification.
By doing so, it aims to generate a higher risk premium relative to
its public market sector equivalent, while also benefiting from
consistently lower default risk and more favorable debt
characteristics to non-financial corporate sectors.
“The launch of our private infrastructure debt capability comes
at an opportune time for investors, given the powerful market
forces driving tremendous capital needs across all infrastructure
sectors,” said Todd Everett, global head of private markets at
Principal Asset Management. “Constraints in traditional bank
funding have opened the door for private investors to fill the
financing gap. This capability will allow investors to access an
opportunity set that offers defensive cash flows, lower default
risk, and exposure to critical investment themes like
decarbonization, electrification, and digitalization.”
In this role, Patel will oversee the growth, operations, and
strategy of the newly created private infrastructure debt
investment team. Patel brings extensive industry experience,
including leadership in origination, underwriting, and portfolio
management services, for both affiliated and third-party separate
account capital across multiple sectors. Patel will report directly
to Everett.
“Private infrastructure debt can play a key role in portfolio
construction for institutions and retail investors alike, aiming to
offer safety, stability, and enhanced returns,” shared Patel. "This
makes it an exciting time to join Principal Asset Management, a
leader in innovative and diversified investment solutions, and lead
the new private infrastructure debt capability, which will be a
compelling addition to the firm's already strong private market
lineup.”
About Mansi Patel
Patel joins Principal with nearly 20 years of experience of
industry experience. Patel previously spent 18 years at MetLife
Investment Management as managing director, head of infrastructure
debt and project finance—North America, Latin America, and APAC.
Prior to this role, she held a position at PricewaterhouseCoopers.
Patel earned a Master of Business Administration at Fairleigh
Dickinson University and a Bachelor of Science at Rutgers
University.
About Principal Asset Management℠
With public and private market capabilities across all asset
classes, Principal Asset Management and its investment specialists
look at asset management through a different lens, creating
solutions to help deliver client investment objectives. By applying
local insights with global perspectives, Principal Asset Management
identifies distinct and compelling investment opportunities for
more than 1,100 institutional clients in over 80 markets.1
Principal Asset Management is the global investment solutions
business for Principal Financial Group® (Nasdaq: PFG), managing
$545 billion in assets1 and recognized as a “Best Places to Work in
Money Management”2 for 12 consecutive years.
[1] As of March 31, 2024
[2] Pensions & Investments, “The Best
Places to Work in Money Management”, among companies with 1,000 or
more employees, December 12 2023.
©2024 Principal Financial Services, Inc., Principal®, Principal
Financial Group®, Principal Asset Management, and Principal and the
logomark design are registered trademarks and service marks of
Principal Financial Services, Inc., a Principal Financial Group
company, in various countries around the world and may be used only
with the permission of Principal Financial Services, Inc. Principal
Asset Management℠ is a trade name of Principal Global Investors,
LLC. Principal Real Estate is a trade name of Principal Real Estate
Investors, LLC, an affiliate of Principal Global Investors.
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Erin Parro, 515-878-0130
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