RBC Global Asset Management (U.S.) Inc. (RBC GAM U.S.) Monday announced the launch of a new Infrastructure Investment Group (IIG) based in Boston, 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, Macquarie and Bank of America, all of whom had previously worked together at State Street.

“The new team brings an additional depth of expertise in an important asset class,” says 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,” Montalbano explains.

“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 GAM (U.S.), RBC Asset Management Inc. and Phillips, Hager & North Investment Management Ltd.

IE