Hastings Funds Management, the infrastructure management business of Australian banking group Westpac, has been rebranded as Vantage Infrastructure.
The move comes after the takeover of Hastings by London-based asset manager Northill Capital in November 2017. Financial terms of the deal were not revealed by the companies.
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Vantage will operate as an independent global debt and equity infrastructure investment firm. It will oversee over $3bn in infrastructure assets for institutional investors across Europe, North America and Australia.
The company will employ 26 staff in its London, New York and Singapore offices.
Northill Capital partner Jon Little said: “We are focused on investing over the long term to support Vantage Infrastructure’s continued development and provide significant co-investment capital to enhance alignment with investors.”
As part of the deal, Northill board members will get place in Vantage board, while senior Vantage Infrastructure management team members will hold material equity stakes in the business.
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By GlobalDataVantage senior partner Valeria Rosati said: “Our new identity along with Northill’s engagement reflects our business moving forward as an independent firm, where our proven investment process is maintained and our commitment to ensuring long-term successful outcomes for our clients remains our primary priority.”
