Hermes recruits for infrastructure

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Hermes, manager of the BT pension scheme, is recruiting for its buyout team and a newly established infrastructure investments group after a shake-up of the pension fund's assets.

The 34.9bn (€52bn) BT fund said last month it would make a maiden 1% allocation to infrastructure funds and double its private equity portfolio from about 350m to 700m.

As a result, Hermes Private Equity is advertising for partners and investment staff to lead investments through funds and directly. It has appointed recruitment firm Walker Hamill to lead the search. The private equity arm has infrastructure investments through private finance initiative funds.

Rod Selkirk, head of Hermes Private Equity, said: "We have some background in specialist infrastructure investing, whether it be private finance initiative or alternative energy. We are looking for a substantial number of people. Some are replacements and some are additional."

Chris Clark, an investment director who worked on Hermes' PFI investments, left in the summer to work full time for his business venture, Jasmine Healthcare.

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