TORONTO, July 27, 2021 /CNW/ - RBC Global Asset Management
("RBC GAM") today 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.
This information is not intended to be an offer or
solicitation to buy or sell securities. The RBC Canadian Core
Real Estate Fund is offered by RBC GAM Inc. RBC
GAM Inc. is a member of the RBC Global Asset Management group of
companies and an indirect wholly owned subsidiary of Royal Bank of
Canada.
Investments in alternative funds are speculative and involve
significant risk of loss of all or a substantial amount of your
investment. Investors should consult their professional
advisors and consultants regarding any tax, accounting, legal or
financial considerations before making a decision as to whether the
Fund is a suitable investment for them.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 86,000+ employees who
leverage their imaginations and insights to bring our vision,
values and strategy to life so we can help our clients thrive and
communities prosper. As Canada's
biggest bank, and one of the largest in the world based on market
capitalization, we have a diversified business model with a focus
on innovation and providing exceptional experiences to our 17
million clients in Canada, the
U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
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.
SOURCE RBC Global Asset Management Inc.