ICG establishes local specialist team to invest in Asia-Pacific Infrastructure

Parking lot solar farm with a gum tree growing
"ICG is committed to investing in sustainable infrastructure, and we are delighted to have hired a team with an outstanding track record and unparalleled expertise in the Asia-Pacific region," says CIO and CEO Benoît Durteste

ICG, the global alternative asset manager, today announced that it has appointed a team to invest in Asia-Pacific infrastructure equity, focusing on mid-market transactions, corporate-led deals, and scaling platforms. The appointment of this team underpins the firm’s commitment to growing its investments in sustainable infrastructure globally.

The new team, comprising five investment professionals based in Singapore and Sydney, will be led by Devarshi Das as Managing Director and Head of Asia-Pacific Infrastructure Equity. Devarshi brings over 23 years of infrastructure investing experience, having previously served as CEO of Infrastructure at Keppel Capital Alternative Asset, and will join along with his former Keppel Capital team, including David Richardson as Managing Director, Hector Wang as Principal, and Mark Teoh as Associate. Isabelle Demir joins as a Managing Director from Infrastructure Capital Group and brings over 21 years’ experience in infrastructure investing across Australia, Europe, and the Middle East.

ICG Infrastructure Asia-Pacific will focus on sectors such as renewable energy, EV transition, digital infrastructure, and recycling and the circular economy. The team will predominantly focus on mature markets within the Asia-Pacific region. Asia Pac is a growing market for infrastructure, expected to grow 7-8% a year over the next decade, reaching US$5.36 trillion a year by 2025, representing 60% of the world total.

Benoît Durteste
Benoît Durteste

Commenting on the ambition for this new business, Benoît Durteste, CIO and CEO of ICG, said:

We are thrilled to welcome Devarshi, David, Isabelle, Hector, and Mark to ICG, as we continue to grow our global infrastructure footprint. ICG is committed to investing in sustainable infrastructure, and we are delighted to have hired a team with an outstanding track record and unparalleled expertise in the Asia-Pacific region.

Devarshi Das, Head of Asia-Pacific Infrastructure Equity, added:

We are delighted to be joining a business with a proven track record of seeding and successfully scaling new and innovative strategies globally. The power of the ICG platform will allow us to immediately start investing across Asia Pac, leveraging our on the ground networks whilst also benefiting from the existing ICG Infrastructure footprint.

Devarshi Das
Devarshi Das

Devarshi Das

Devarshi was formerly CEO of Infrastructure at Keppel Capital Alternative Asset and managed a private, growth capital Asia-Pacific infrastructure equity fund. Prior to this, Devarshi worked as CEO at Capital Advisors Partners Asia Pte Ltd (CapAsia), where he was involved in all aspects of fund management over a tenure of more than 12 years. Devarshi also served on the board of various portfolio companies, representing the power, renewable energy, transportation, and telecommunications sectors.

David Richardson
David Richardson

David Richardson

David Richardson joins as a Managing Director based in Singapore, with 23 years’ experience. David moved to Asia in 2005, and his experience spans across investment banking, principal investments and renewable energy development platforms.

Isabelle Demir
Isabelle Demir

Isabelle Demir

Isabelle Demir joins as a Managing Director based in Sydney and brings over 21 years’ experience in infrastructure investments and advisory across Australia, Europe, and the Middle East.

Hector Wang
Hector Wang

Hector Wang

Hector Wang joins as a Principal and has more than 17 years’ experience in infrastructure private equity and M&A in Asia Pacific, having invested in a wide range of infrastructure subsectors across multiple markets.

Mark Teoh
Mark Teoh

Mark Teoh

Mark Teoh joins as an Associate and has approximately four years of experience in infrastructure investments in Asia Pacific, particularly in deal execution and portfolio management.

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For further information please contact:

Clare Glynn

Head of Corporate Communications

T. +44 20 3545 1395

M. +44 7714 459 949

Email: [email protected]

About ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $68.5bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Twitter.