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Senior director Ram Kumar’s mid-July departure follows the exits of director Guido Mitrani in March and global co-head Jesus Olmos in April.

The government uses development bank KfW to buy 20% of the transmission system operator to prevent the state-backed firm taking a stake in the country’s ‘critical energy infrastructure’.

One investor said the original rate was ‘just not a standard hurdle’, as we take a closer look at the $5bn first close, one of the industry’s largest first closes for a debut fund.

The pension could one day acquire a fund or specialist manager in the infrastructure, agriculture or timber sectors, although it has no imminent plans to do so.

The new laws will cover the telecoms, energy and transport sectors and allow the government to ‘call in’ transactions that may pose a threat to national security.

The government releases a request for proposals, suggesting managers with experience in the sector could seed the Charging Infrastructure Investment Fund with existing assets.

Private markets exposure is paying off Down Under, according to research from consultancy Chant West, with infra and PE among the best-performing asset classes.

DJ Gribbin’s appointment was announced days after the firm closed its third infrastructure fund on $7.2bn – its largest to date and the biggest raised in the sector this year.

After a record-breaking 2017, this year is also starting strongly, with more than $38bn raised during the first six months. The good news? There are still plenty of large closes to look forward to in H2.

The manager invested in the CSP sector in 2011 because it regarded it as ‘more sheltered from regulatory change’ than solar PV, which had been damaged by tariff cuts a year earlier.