Infralogic Investors Forum - Japan 2022
The premier infrastructure investors forum in Japan
The Conrad, Tokyo and online
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Alicia García Herrero is the Chief Economist for Asia Pacific at Natixis. She also serves as Senior Fellow at the Brussels-based European think-tank BRUEGEL, a non-resident Senior Follow at the East Asian Institute (EAI) of the National University Singapore (NUS) and a Member of the Board of the Center for Asia-Pacific Resilience and Innovation (CAPRI). Alicia is also Adjunct Professor at the Hong Kong University of Science and Technology. Finally, Alicia is a Member of the Council of Advisors on Economic Affairs to the Spanish Government and an advisor to the Hong Kong Monetary Authority’s research arm (HKIMR)among other advisory and teaching positions.
In previous years, Alicia held the following positions: Chief Economist for Emerging Markets at Banco Bilbao Vizcaya Argentaria (BBVA), Member of the Asian Research Program at the Bank of International Settlements (BIS), Head of the International Economy Division of the Bank of Spain, Member of the Counsel to the Executive Board of the European Central Bank, Head of Emerging Economies at the Research Department at Banco Santander, and Economist at the International Monetary Fund. As regards her academic career, Alicia has served as visiting Professor at John Hopkins University (SAIS program), China Europe International Business School (CEIBS) and Carlos III University.
Alicia holds a PhD in Economics from George Washington University and has published extensively in refereed journals and books (see her publications in ResearchGate, Google Scholar, SSRN or REPEC). Alicia is also very active in international media (BBC, Bloomberg, CNBC and CNN) as well as social media (LinkedIn and Twitter). As a recognition, Alicia was included in the TOP Voices in Economy and Finance by LinkedIn in2017 and #6 Top Social Media leader by Refinitiv in 2020.
Isabel is the Regional Industry Director, Infrastructure and Natural Resources, Asia and Pacific, based in Singapore. For seven years prior to her current role, Isabel was the Regional Manager for PPP Transaction Advisory Services, initially for South Asia based in Delhi, and subsequently in Singapore as her mandate expanded to cover all Asia Pacific for the last four years. Isabel spent four years in IFC’s Subnational Finance unit where she worked in deal origination, structuring and supervision of debt and structured finance products in more than six countries in LAC. Before joining IFC, Isabel held various positions in World Bank operations in the urban sector in the Middle East and North Africa region, the water sector in Latin America, and the transport, power and urban sector in South Asia. Before joining the World Bank in 2001, Isabel worked in emerging markets and Western Europe for WS Atkins in the UK as Senior Management Consultant; working on infrastructure finance in Thailand, Argentina, Barbados, Qatar, the UK, and Europe.
Isabel, a civil engineer by training, holds an MBA and a PhD from the University of Birmingham (UK).
Fumio is the head of Renewable Energy Investment in Daiwa Energy & Infrastructure since 2021.
Prior to joining Daiwa Energy & Infrastructure in 2018, Fumio has 10 years of experience in investment and fund management, including 5 years with Daiwa Real Estate Asset Management where he engaged in business development as well. One of his primary achievements there was the launch of a renewable energy asset management business. He has executed various investments and financing transactions since joining Daiwa Energy & Infrastructure.
Fumio holds a master’s degree of science in advanced architectural studies from University College London.
Koichiro Danno is an expert of energy & environment business, ICT & telecommunication, water & resources and smart city. He provides consulting services for business strategy, sales & marketing, M&A, incubation and start-up.
Takanori Fukushima has had an extensive career in derivatives and risk management at domestic and global investment banks. He now heads the PPP & Infrastructure Investment Research Department at Sumitomo Mitsui Trust Research Institute offering research, consulting and advisory services for PPP & infrastructure investments. Clients include municipal governments engaging in PPP projects. He serves as a member of several government study groups and councils including: expert advisor for the Cabinet Office “PFI Promotion Office,” chairperson for MLIT “Study Group for Real Estate Risk Management,” member of METI “Asia Infrastructure Finance Committee,” MLIT “Study Group for Infrastructure REIT,” and MLIT “Working Group for Securitization of public-owned real estate.”
He has co-authored “Introduction to Infrastructure Investment” and “Infrastructure Investments by the Private Sector” both published by Nikkei Business Publications Inc.
He holds an MBA from the Graduate School of Finance, Accounting and Law at Waseda University and is an adjunct researcher at Institute of International Real Estate Studies at Waseda University. He is also a Chartered Member of the Securities Analysts Association of Japan (CMA).
Ray co-founded Albamen Capital in 2019, an affiliate of Manulife Investment Management. He is currently co-Managing Partner of Albamen Capital.
Ray has led investments in renewables, coal-fired, gas-fired power generation, energy transmission and distribution, coal bed methane gas field exploration and development, transportation infrastructure and water treatment utilities in China, ASEAN, Australia and Europe.
Ray was previously the CEO of CGNPE. He owns the majority interests in the General Partner of the RMB 3.7 billion CGN Fund III and is the CIO of the fund. Before working with CGNPE, Ray was Head of Infrastructure Investments at Ping An in Shenzhen. Prior to Ping An, he was Head of Infrastructure – Asia of Babcock & Brown, a member of Babcock & Brown’s Global Infrastructure Executive Committee, and director of the ASX listed Sydney Gas Limited in Australia.
Robin oversees global editorial and research coverage for Infralogic. A 24-year news veteran, with 16 of them spent editing financial news, Robin has worked for some of the world's leading news outlets, including The Wall Street Journal, Dow Jones Newswires and Bloomberg. He has been a regular on live television, commenting mainly on Chinese government and central bank policy. At Infralogic, he is responsible for daily news coverage and analysis written by a team of journalists spread across the globe, including the Americas, EMEA and the Asia-Pacific region.
Stefano Ghezzi joined OTPP in 2017 and is member of the Infrastructure and Natural Resources team based in Singapore covering the infrastructure and renewable sectors across Asia Pacific. During his time at OTPP Stefano has been involved in investments globally including the recent acquisitions of Caruna Networks, SGI and IDEAL, amongst others. Prior to joining Ontario Teachers', Stefano worked in the infrastructure and energy group at Citigroup and in derivatives trading at Commerzbank in London.
Stefano holds a M.Sc. in Finance from Warwick Business School and a B.Sc. in Economics from Universita' Cattolica del Sacro Cuore in Milan.
Daniel Hu is a Managing Director at China Everbright Limited responsible for overseas infrastructure investments. He has 24 years of experience in investing in the infrastructure and related industries in Asia and Europe. Prior to joining China Everbright Limited, Daniel had worked for JPMorgan, and previously Emerging Markets Partnership - which was the principal adviser to the AIG Infrastructure funds. Daniel serves on the boards or as Chairman of the investee companies; and has led various successful exits of portfolio companies in different jurisdictions. Daniel holds an MBA degree from the Chinese University of Hong Kong and received his Bachelor of Economics degree from the University of Hong Kong. He is a CFA Charterholder.
Yuichiro Kawabe is an executive officer and general manager of project finance department at Shinsei Bank, and is in charge of domestic and overseas project finance. In domestic project finance business, his team mainly organizes project finance for renewable energy projects and syndicate to regional financial institutions and institutional investors. Shinsei has arranged financing for more than 100 renewable energy projects such as solar power generation, wind power generation, biomass power generation, and geothermal power generation so far.
Yoshi focuses innovative strategies and products with the investment horizon structures. He has more than 30 years of experience in investment and risk management.
Before that, Mr. Kiguchi was a managing director of Russell Investments in Japan, where he supervised several teams, and delivered a wide range of consulting and solutions to the institutional clients including Toyota, Fujitsu, NEC, Sekisui, Toray, and Mazda. He joined Russell as a consultant in 1998.
Prior to joining Russell, Mr. Kiguchi was with Sumitomo Life for ten years. He was placed in charge of corporate strategy, equity investments, researching capital markets, including private equities, and performing quantitative risk management and ALM.
B.S., Precision Machinery (Robotics), the University of Tokyo, 1988.
Tom has been with Infrastructure Capital Group (ICG) for over 10 years and Managing Director since 2014. He is responsible for overseeing all activities of the group and has been pivotal in the group’s expansion in recent years, including launching new products and more than doubling in size.
Tom has many years of experience in the purchasing and selling of infrastructure assets in multiple jurisdictions, and has significant global infrastructure investment banking experience across roads, rail, airports, ports, regulated utilities, power generation, pipelines & PPPs. Tom has international experience having spent a decade in Canada and Europe. Tom is also an accomplished company director, sitting on numerous boards and with experience as Chair of various committees. Tom brings substantial experience across all aspects of the infrastructure industry, with advisory and fund experience. He has transactional, execution, origination, commercial, HR, risk management and strategic thinking skills.
Tom is a portfolio manager for DIT, is a member of the Investment Committee and has directorships on ICG, various trustee boards and various portfolio companies.
Tom holds a Bachelor of Laws (Hons) and Bachelor of Commerce.
Udhay Mathialagan is a Managing Director in Brookfield’s Infrastructure business, primarily responsible for data infrastructure investments in Asia Pacific.
Mr. Mathialagan joined the organisation in 2018 and is responsible for leading the establishment and growth of the data infrastructure sector in the region.
Mr. Mathialagan led the acquisition of DCI Data Centers, an Asia- Pacific focussed data centre business serving global cloud service companies and Vodafone New Zealand, the leading mobile and broadband telecom operator in New Zealand, which resulted in a 50% investment by Brookfield.
Mr. Mathialagan has previous experience in developing, operating and investing in telecom related businesses and prior to joining Brookfield, held roles as Senior Adviser at Macquarie Capital’s Telecom, Media and Technology group, Director of Strategic Development at Crown Castle Australia and was also the founder and CEO of Insight Infrastructure.
Mr Mathialagan holds an MBA from the Rotterdam School of Management, the Netherlands and is currently Chair of the Board of DCI, and Chair of the Board of Vodafone New Zealand.
Takashi previously worked for Nomura Securities Co., Ltd. before he joined KPMG in 2001.
Takashi has been providing tax advisory services with particular focus on M&A / reorganizations related to various sectors, advising clients on tax structures recommended for setting up funds inside / outside Japan (e.g. Singapore, Cayman Islands, Luxemburg) as well as on on-going / closure of funds. His clients are mainly foreign sovereign funds, private equity funds, real estate funds and foreign institutions/multinational companies. Recently Takashi has been assisting in setting up venture capital funds inside/outside Japan as well.
Following introduction of the FIT regime in 2012 and Prior to an increase in interest from investors in healthcare-related assets, Takashi was one of the first tax professionals to advise on this industry. He has developed vast experience in the field and understands the new trends in the market as well as implications of the relevant tax laws.
He has also specialized in the provision of post-transaction bookkeeping, entity administration and tax compliance for entities involved in the tax structuring and M&A transactions, allowing for a seamless and comprehensive service package that ensures accurate implementation after the investment has been made.
More specifically, for real estate (i.e. Logistic and Hotel) / renewable energy assets development projects, Takashi Has been supporting on the set up of Listed / Private REIT and tax compliance.
He returned from a 2.5 year secondment to Italy, where he teamed with Italian and European professionals to support Japanese clients with various investments into Italy as well as with their Italian operations from audit, tax, legal and advisory perspectives.
Ken-ichiro Matsunaga is in charge of Japan Post Bank's infrastructure investment program including both infrastructure equity and debt investment. He joined Japan Post Bank in July 2021 after 15-years career at Development Bank of Japan which covers infrastructure fund investment, GP co-investment, debt SMAs, ECA finance and project finance. In his last 5 years at DBJ, he provided gatekeeping/advisory services to large Japanese institutional clients as an asset management arm. He holds a Bachelor of Law from the University of Tokyo.
Mark McLean is a Managing Director and Head of Asia-Pacific for Morgan Stanley Infrastructure. He has over 20 years of experience in investment management and investment banking, including extensive experience in Australia in the investment and management of infrastructure opportunities. McLean is focused on generating opportunities for MSI in OECD counties in the Asia-Pacific region and is based in Melbourne.
Kanna leads Private Capital Markets team in Japan where her primary role is to connect Japanese capital to global infrastructure opportunities. Her most recent experiences include successful formation of a partnership with JERA on Formosa 1, 2 and 3 offshore wind projects in Taiwan, and acquisition of Electricity North West in UK by a consortium including Kansai Electric.
Since joining Macquarie in 2013, she has worked on 2 of the first 3 major infrastructure privatisation projects in Japan, Sendai Airport and Aichi Toll Road, as a financial advisor to the winning consortium of each transaction.
Before joining Macquarie, Kanna engaged in commercial lending for non-EU EMEA companies in Sumitomo Mitsui Banking Corporation’s EMEA headquarter in London for 5 years. Kanna started her career as a business consultant at BaringPoint (currently PwC) where she worked on various business process optimisation projects for Japanese companies.
Anthony is Asia Chairman and Partner of H.R.L. Morrison & Co a leading alternative asset manager investing in infrastructure through both private and listed markets. Anthony has over 35 plus years of experience with both traditional and alternative investment management across different regions and asset classes. Before H.R.L. Morrison & Co Anthony had spent an extensive period with Citigroup Global Asset Management and Salomon Brothers Asset Management as regional Chief Investment Officer and a member of its global investment management committee. He had previously built and run the proprietary investment team in Asia for Alliance Trust Plc and spent early part of his career with BNZ Investment Management.
Anthony is also current Chairman of JIDA Capital Partners Limited, a China focused sustainable infrastructure investment management company. He is a Non-Executive Director of UK listed Utilico Emerging Markets Trust PLC and had served 9 years as Board Director of listed company Infratil. Anthony is current Chairman of Asia Corporate Governance Association (ACGA) and is an Advisory Board member of Euromoney Institutional Investor PLC. He was past Chairman and Fellow of Hong Kong Securities and Investments Institute and was a past Chairman and Fellow of New Zealand Society of Investment Analysts (now known as INFINZ).
Hironobu Nakamura joined Asset Management One Alternative Investments, Ltd. (“AMOAI”) as General Manager, Chief Investment Officer in April 2018. Mr. Nakamura has the overall responsibility for investment origination and fund management. He has 20 years of experience in global project finance and infrastructure related business, having started his career in 2000 with Project Finance Dept. of Mizuho Bank. He has worked around the world including Tokyo, New York and London and was instrumental in the expansion of Mizuho’s project finance business globally. Spearheading his senior activity in equity investment as well as debt space, in 2015 he was seconded to USD1.25Bil global infra fund, jointly established by Mizuho, JBIC, Mitsubishi Corp and a Canadian Pension Fund and served as a member of Investment Committee. He has led a numbers of significant transactions including; MLA for the largest IPP in Thailand, multiple MLA for IPPs in Vietnam, Indonesia and Australia, Sole MLA for Hold-Co acquisition finance to multiple IPPs in U.S., Acquisition of Transmission and Distribution business in Finland and other EU.
Yuya Nakazawa is the head of investment of Marunouchi Infrastructure. He has over 20 years of experience in infrastructure, private equity, venture capital, hedge fund, real estate, debt investment at Mitsubishi Corporation, Ant Capital Partners and investment companies. He was also engaged in risk management in global infrastructure investment activities at Mitsubishi Corporation.
Jun joined Actis in 2022, as the firm opened its office in Tokyo and extends its footprint in Asia. Jun oversees Actis’ operations, relationships and growth in Japan and also works with the firm’s central teams, including the Investor Development Group, to diversify the global institutional investor base.
Jun was previously Head of Macquarie Capital Japan, where he worked for almost 14 years. Before this, Jun worked for Fuji Bank, Mizuho Corporate Bank, and UBS for 22 years, working across corporate finance, project finance, export finance and asset-backed securities for deals in Japan and overseas.
Jun has a BA in Economics from Keio University, Tokyo, Japan, and a Master of Business Administration from Southern Methodist University, Texas, USA.
Kenjiro leads the Infrastructure Investment Team at Sumitomo Mitsui Trust Bank, which focuses on infrastructure opportunities in Japan, mainly in the areas of decarbonization, social infrastructure and digital infrastructure. He has over 16 years of experience in private equity and infrastructure investments, with former roles including Head of Business Development Team and Manager of M&A Finance Team at Sumitomo Mitsui Trust Bank, as well as Chief Manager of Investment Team at Sumitomo Mitsui Trust Capital.
His most recent deal was the acquisition of Tokyo-based renewable energy business Japan Renewable Energy Corporation alongside ENEOS Holdings Inc. with a total deal size of 200 billion yen.
Keisuke Okano is in charge of Infrastructure investments at ORIX Life Insurance Corporation. Since joining ORIX Life in 2019, he has led the growth of the infrastructure portfolio. In prior role, he was in Government Pension Investment Fund (GPIF) for 8 years where he took various role there, including he served as portfolio manager for Infrastructure investments from the time when GPIF starts alternative investment.
He holds a bachelor’s degree in Political Science from Waseda University.
Dinesh is a Partner in Pantheon’s Global Infrastructure and Real Assets Investment Team where he focuses on the analysis, evaluation and completion of infrastructure and real asset investment opportunities in the U.S. Prior to joining Pantheon, Dinesh was a Vice President in Goldman Sachs’ Global Natural Resources group where he executed on a variety of M&A and capital markets transactions across the infrastructure, power and utilities sectors. Previously, Dinesh was in the Power & Utilities group in the Investment Banking Division at RBC in New York. He holds a BS in Electrical and Computer Engineering from Cornell University and MBA from NYU’s Stern School of Business.
Ryan Shockley, Managing Director, joined the BlackRock Global Infrastructure Funds team ("BGIF") in 2008. The BGIF team manages approximately US$9 billion in capital commitments across three vintages. BGIF invests globally in essential contracted infrastructure assets and businesses by capitalizing on the long-term trends of decarbonization, decentralization and digitalization. The BGIF team has created over 40 portfolio companies across the globe for the Funds and includes over 60 investment professionals who are located in Greenwich (Connecticut), London, Singapore, Houston and Mexico City. The BGIF team joined BlackRock in 2017 from First Reserve, a private equity firm that was founded in 1983 and created the BGIF infrastructure platform in 2008. The BGIF team raised the first two vintages while at First Reserve.
His responsibilities include investment origination, execution, monitoring, and exit strategy. At BGIF, Mr. Shockley leads, or has led, investments in FR Warehouse, Hearthstone NextEra Partners, Western Renewable Partners and Meade Pipeline. He is also a member of the Investment Committee. Prior to joining BGIF, Mr. Shockley worked at First Reserve as a Vice President in their private equity funds. Prior to First Reserve, Mr. Shockley worked at JP Morgan Investment Bank in the Financial Sponsors Group. Mr. Shockley holds a BA from Kalamazoo College, cum laude and an MBA from the Kellogg School of Management at Northwestern University.
Dan Shulman started Shulman Advisory after nearly 15 years of experience with the Japanese energy market in a wide variety of roles. Together with his team, he uses his rich experience in the country’s evolving deregulated electricity market to help renewables developers adapt to the changing government incentives schemes and market conditions, to facilitate partnerships between Japanese and foreign companies, and to track changes in policy and regulation in all facets of Japan’s energy market in order to provide clients with the services necessary to understand the Japanese energy market and thrive in it.
Kosei joined the International Finance Corporation (IFC), a member of the World Bank Group, in 2005. Before joining the current team in Singapore, he was Deputy Representative in Tokyo and Investment Officer at Private Equity and Investment Funds Department in Washington DC. Previously, Kosei worked at the United Nations Development Program (UNDP) in Vientiane, Lao People’s Democratic Republic, and the Sumitomo Bank (currently Sumitomo Mitsui Banking Corporation) in New York, Osaka, and Tokyo. He holds an MBA from Yale School of Management and an LLB from Kyoto University.
Kok Leong Toh is part of Partners Group's Asian Private Infrastructure business unit, based in Singapore. He is a member of the Board of Directors of the firm's portfolio company Green Island Renewable Power. He has been with partners Group since 2011 and has 13 years of industry experience. Prior to joining Partners Group, he worked at CIMB Bank where he is part of the Investment Banking large corporate coverage team based in Singapore. He holds a bachelor’s degree in business administration from Singapore Management University and an executive master in finance from Insead, France.
Akitoshi is a Managing Director and Head of Japan. He represents Pantheon’s client relationship management and business development in Japan. Prior to joining Pantheon, he was Deputy General Manager of Foreign Equity and Alternative Investment Department at Nippon Life Insurance Company and before that he worked at Nippon Life Global Investors America as Senior Vice President and Head of Private Equity Investment. He has a BA in German studies from Sophia University.
Hiroshi Yanagisawa joined Canadian Solar Asset Management K.K. (CSAM) in 2018 as CFO and has been in his current position since January 2022. Prior to joining CSAM, he worked at Nippon Commercial Development Co., Ltd. (currently JINUSHI Co., Ltd) and Open House Co., Ltd. where he was in charge of finance in real estate and asset management business. Prior to that, he worked for a total of 16 years in investment banking business such as M&A advisory and capital raising mainly at SMBC Nikko Securities Inc. and Nikko Citigroup Securities Inc. He started his career at Mitsui Taiyo Kobe Bank (currently Sumitomo Mitsui Banking Corporation).
Hiroshi holds an MBA from the University of Pennsylvania Wharton School and a B.A. majored in Pure and Applied Sciences from the University of Tokyo.