RBC Global Asset Management (U.S.) launches new Infrastructure
Exclusive focus on infrastructure fund of funds and co-investment strategies
BOSTON, January 20, 2010 RBC Global Asset
Management (U.S.) Inc. (RBC GAM U.S.) today announced the
launch of a new Infrastructure Investment Group (IIG) based
in Boston, MA, that will focus exclusively on the infrastructure
asset class. IIG will offer institutional investors fund of
funds, co-investment and secondary strategies that provide
global, diversified exposure to unlisted infrastructure investments.
Joe Lyons, Nancy Mangraviti, Matthew McPhee and Whit Porter
have joined RBC GAM (U.S.) to launch this new initiative.
The team brings together seasoned professionals from State
Street Global Advisors (SSgA), Macquarie and Bank of America,
all of whom had previously worked together at SSgA.
"The new team brings an additional depth of expertise
in an important asset class," said John Montalbano, CEO
of RBC Global Asset Management. "Financial firms and
institutional clients are showing increased interest in infrastructure
as an asset class due to its distinct investment characteristics
of long-lived assets and inflation-linked, stable operating
cash flows. Additionally, returns that are uncorrelated to
other asset classes are extremely attractive to institutional
investors seeking diversification. With IIG in place, our
institutional clients will have enhanced access to an expanded
range of investment solutions."
RBC GAM comprises the three asset management firms owned
by Royal Bank of Canada (RBC): RBC GAM (U.S.), RBC Asset Management
Inc. and Phillips, Hager & North Investment Management
Ltd. With combined assets of more than $200 billion as of
October 31, 2009 and offices in the U.S., Canada, Europe and
Asia, RBC GAM ranks among the top 100 asset management firms
in the world, according to Pension & Investments
* Based on comparison of the assets under management for RBC GAM to the managers named in Pension & Investments, Top 50 Global Managers, December 2008.
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) comprises RBC Global
Asset Management (U.S.) Inc., RBC Asset Management Inc. (RBC
AM), and Phillips, Hager & North Investment Management
Ltd. (PH&N), which are separate but affiliated corporate
entities. John Montalbano is CEO of RBC AM and CEO of PH&N.
Combined, RBC GAM's component companies manage approximately
$200 billion in assets in the United States and Canada. Website:
RBC GAM is part of RBC Wealth Management, which directly
serves affluent and high net worth clients in Canada, the
United States, Latin America, Europe and Asia with a full
suite of investment, trust and other wealth management solutions.
The business also provides asset management products and services
directly and through RBC and third-party distributors to institutional
and individual clients, and has more than $500 billion of
assets under administration, over $245 billion of assets under
management and more than 4,500 financial consultants, advisors,
private bankers and trust officers. RBC Wealth Management
was recognized as the Outstanding Private Bank in North America
by Private Banker International in October 2009.
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For more information, please contact:
RBC Global Asset Management Communications,
RBC Media Relations,