QIC beefs up energy team

QIC Infrastructure's specialist energy and utilities practice has appointed three new senior executives to originate new investment opportunities.

Paul Maguire, Richard Van Breda and Mark Irwin have taken up senior positions within a business that manages more than $12 billion in energy and utility assets on behalf of institutional investors.

The trio is tasked with driving value across the existing portfolio of investments and finding deals.

They will also join the boards of four of QIC's Australian energy investments.

First up, Paul Maguire joins the team as a partner.

He was previously chief executive of Lumea, a transmission services business owned by Transgrid, and before that head of Engie APAC, the energy generator and distributor.

Meanwhile, Richard Van Breda joins QIC Infrastructure as a senior advisor covering energy transition.

Van Breda was previously the head of Stanwell, a major provider of electricity and energy solutions to Queensland, the National Electricity Market and large energy users throughout Australia.

Before that, he served as the chief financial officer for Tarong Energy.

The third recruit Mark Irwin also joins as a senior adviser.

He currently runs ADBRI - one of Australia's pioneering construction materials and industrial mineral manufacturing companies.

Irwin has earlier held senior roles at Oz Minerals including chief commercial officer.

QIC's head of infrastructure, Ross Israel welcomed the new executives.

"The energy and utilities sectors are undergoing a transformational change propelled by the global effort to reduce carbon emissions and increase asset resiliency," he said.

"Institutional investors are primed to invest into energy transition opportunities but appreciate specialist know-how and active management play a central role in achieving appropriate risk-adjusted returns."

Israel pointed out that Paul, Richard and Mark's acumen complement a well-established team of specialists who manage a platform of 10 energy and utilities assets globally, via a team of 25 investment specialists and 25 non-executive directors and advisers.

Last year QIC acquired Bluecurrent, an Australasian smart metering business, adding to its portfolio that also incorporates Tilt Renewables, Pacific Energy and Lochard Energy in Australia and Generate, Renewa and CenTrio in the US.

QIC Infrastructure now actively manages a global portfolio of $33 billion with 22 direct investments across 5 OECD countries.

The global team comprises 84 dedicated investment professionals and 63 non-executive directors and advisors across five offices.