Macquarie Asset Management has consolidated three of its listed real assets businesses and reshuffled the investment team in a bid to drive synergies available to the asset class.
The asset manager said folding natural resources, listed infrastructure and real estate into a single business will strengthen the investment team and help drive success across the platform.
James Maydew, who leads the listed real estate team, is stepping into a bigger role as he now leads the newly created global listed real assets team.
New York-based Brad Frishberg will continue to look after listed infrastructure as well as the infrastructure securities business.
Mcquarie pointed out that the global listed infrastructure team remains well-resourced and supported by the new real assets platform.
"There will be no change to the underlying investment process of the Macquarie International Infrastructure Securities Fund (Hedged) and the Macquarie International Infrastructure Securities Fund (Unhedged)," the firm said.
Frishberg has been with Macquarie for 16 years. Before that, he was managing director and US equity portfolio manager at J.P. Morgan Asset Management.
Incidentally, Maydew joined Macquarie as part of the buy-out of the AMP Capital team.
Research analyst Barry Klein who has been with the firm for 14 years, has also been promoted.
Klein will take on portfolio management responsibilities whilst retaining some research analyst coverage.
Currently, he supports the management of the global listed portfolios and is also responsible for covering utility stocks in the Americas.
He also co-manages a climate solution strategy with members of Macquarie's natural resources and sustainability teams.
Klein joined from Citigroup. He was a member of Citi's top-ranked utilities research team, covering gas and electric utilities and integrated gas companies.
The reshuffle has one casualty.
As a result of the consolidation, Anthony Felton, the portfolio manager for the listed infrastructure fund will leave the business. He has worked at Macquarie for 21 years.