Global infrastructure manager IFM Investors has added a former WTW consultant to help sharpen the firm’s investment offerings and respond to changing institutional client requirements.
The Australian firm appointed David Cienfuegos as global head of product structure strategy, based in New York. He brings more than 25 years of investment and leadership experience across public and private markets.
Cienfuegos spent 15 years at WTW in investment leadership roles, most recently as senior managing director and head of Western Europe and International. At IFM, he will be responsible for identifying emerging opportunities and translating shifting market conditions and client priorities into product strategies.
The appointment follows IFM’s recruitment of Jeff Chee as global head of investment research in March, as the firm continues to develop its global investment capabilities.
IFM Investors’ head of product strategy and innovation Rekha Misra said Cienfuegos’ role would help the organization make strategic decisions amid evolving market dynamics.
“This role will help ensure IFM is well positioned to respond to the needs of its clients and the ever-changing global dynamics we operate within and help us make clear and disciplined strategic choices for the benefit of the 160 million working people our clients represent,” said Misra in a statement.
She said Cienfuegos’ experience would strengthen the firm’s ability to design investment solutions while maintaining a focus on long-term growth.
“We’re delighted to welcome David to IFM. His appointment strengthens our solutions design capability and will help us focus on long-term growth and evolving client needs,” Misra said.
Cienfuegos said IFM’s purpose and long-term investment approach were central to his decision to join.
“Three things stood out to me about IFM: its purpose, its people and the opportunity to make a meaningful contribution. I was drawn to the organization’s long-term focus and its commitment to investing, protecting and growing the retirement savings of working people,” he said in a statement.
The appointment follows a broader period of change within IFM’s global leadership, including the planned retirement of infrastructure head of North America Julio Garcia after 18 years with the firm. Garcia will transition out of his executive responsibilities following a transition period.
The firm announced in October that Michael Kulper will succeed Garcia as head of infrastructure for North America. Since joining IFM in 2013, Kulper played a key role in developing IFM’s infrastructure equity business, the firm stated. He led the origination of IFM’s toll road portfolio, which currently represents approximately $28 billion in net asset value.
IFM was founded by and is owned by pension funds and focuses on investments in infrastructure equity and debt, private equity, private credit, real estate and listed equities. The firm reported approximately $207.82 billion in assets under management as of September 30.
A version of this article originally appeared in our sister publication, Financial Standard, which like CIO is owned by ISS STOXX.
Tags: Global Infrastructure, IFM Investors, Private Markets, Public Markets