Principal Asset Management recently announced the launch of its new private infrastructure debt capability and the hiring of Mansi Patel as senior managing director and head of infrastructure debt to lead its launch and implementation. This new capability adds to the firm’s expertise in public-listed infrastructure, real estate debt, and alternative credit.
This capability will focus on investing in a diversified portfolio of private infrastructure debt, targeting thematic investments in globalization, decarbonization, and electrification. And by doing so, it aims to generate a higher risk premium relative to its public market sector equivalent while benefiting from consistently lower default risk and more favorable debt characteristics to non-financial corporate sectors.
Within 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.
Patel joins Principal with nearly 20 years of industry experience. She previously spent 18 years at MetLife Investment Management as managing director and head of infrastructure debt and project finance—North America, Latin America, and APAC. Before 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.
KEY QUOTES:
“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. 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.”
– Todd Everett, global head of private markets at Principal Asset Management
“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. 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.”
– Mansi Patel
