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Deutsche Bank MD quits for London infra fund paying $236k average

Everyone has been saying the same thing about infrastructure recently – it’s the place to be. And now bankers seem to be putting their money where their mouths are.

Ross MacLennan joined Copenhagen Infrastructure Partners (CIP) in London at the start of this month to be its head of private wealth solutions. McLennan was most recently an MD in Deutsche Bank's private bank, and head of alternatives for the division. Pre-Deutsche, he was at Goldman for nine years.

Copenhagen Infrastructure Partners, which was founded in 2012 and is based in Copenhagen (gasp), invests in infrastructure (gasp). It founded its London subsidiary in late 2019. Companies house filings indicate that the fund paid £185k ($236k) per head for 2021 (2022 numbers will be released next month).

Even though some infrastructure investors, such as Macquarie, have come under fire for very visibly debacles under their purview, infrastructure is still a great place to be, apparently. Dan McCarthy, CEO of New York-based infrastructure-focused executive search firm One Search, says that infrastructure is one of the last places in finance where someone can make “generational wealth”.

How much does that mean in dollar terms? Around $100m in some cases, McCarthy says. And if you need any other vote of confidence in the (sub-)industry, we’ve already seen a Goldman Sachs executive director heading for an infrastructure investor – at a state-owned bank in Leeds.

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AUTHORZeno Toulon

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