First State Investments has appointed Niall Mills as head of global unlisted infrastructure investments following Perry Clausen’s promotion to global chief investment officer.
London-based Mills joined First State’s senior management team as a partner in the European infrastructure business in 2008.
First State Investments has US$8.4 billion in unlisted infrastructure equity investments. The unlisted infrastructure business takes significant stakes in companies, often 100% ownership, ensuring effective engagement and partnership with the company’s management team.
In the past few months, it has made a number of moves, including the 100% purchase of UFF Holdings, the holding company for New Zealand-based fibre business Ultrafast Fibre; the acquisition of a 49% stake in Anaergia's Rialto bioenergy facility in California; the finalization of its 100% acquisitions of the Vopak terminal business in Algeciras, Spain, and the Caldic Chemie terminal in Rotterdam, Holland; and the signing of a contract to acquire a 45.1% stake in MVV Energie in Germany.