RBC GAM appoints Andrew Hay as Head of Infrastructure
Andrew Hay will report to Michael Kitt, the founder of RBC GAM's private markets business.
TORONTO, Canada, 29 July, 2021 (PRESS RELEASE) -- RBC Global Asset Management ("RBC GAM") have announced the appointment of Andrew Hay as Head, Global Infrastructure Investments.
Based in Toronto and reporting to Michael Kitt, RBC GAM's Head of Private Markets and Real Estate Equity Investments, Mr. Hay will expand the firm's capabilities in private markets, with a focus on global infrastructure. This new role dedicated to the global infrastructure space reflects RBC GAM's commitment to further broaden its investment solution offering to its base of global investors and advisors.
"As a leader in investment management in Canada, we continually seek to add capabilities to our solution set and private markets have been a focus for us,"
said Dan Chornous, Chief Investment Officer, RBC GAM.
"Among these, infrastructure investing can offer our clients the kind of return, yield and volatility profiles that are especially valuable in a world of low single digit interest rates."
Established three years ago under the leadership of Mr. Kitt, RBC GAM's Private Markets business has attracted significant interest from investors and advisors. The RBC Canadian Core Real Estate Fund, launched in 2019 as the result of RBC Global Asset Management Inc.'s ("RBC GAM Inc.") successful partnership with British Columbia Investment Management Corporation and QuadReal Property Group, has attracted over $2 billion in assets to date from institutional and individual investors.
Mr. Hay's experience in the infrastructure investment space is extensive. Most recently, he spent 14 years with a large Canadian pension plan as Senior Principal, Infrastructure Investments, helping to establish one of Canada's largest direct infrastructure programs and overseeing a global portfolio totaling $37 billion. Throughout that period, Mr. Hay built a solid track record in deal origination and execution, ultimately generating significant value in complex transactions.
"We are very pleased to welcome Andrew to RBC GAM,"
added Mr. Chornous.
"Over the past three years, we have built a compelling private markets offering for our clients across real estate, mortgage, and now infrastructure investments. Andrew's depth of experience and his established presence in the infrastructure investment community are ideally suited to supporting the emerging needs of investors and advisors with innovative solutions."
Mr. Hay earned an MBA from the Schulich School of Business and a Bachelor of Science with a major in Computer Science from York University.
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About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $550 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.