Callan to Shift Staff Titles, Structure in September

Callan’s President and Director of Research Greg Allen will assume the title CEO and President September 1, among several other corporate moves, the institutional investment consulting firm announced Monday.

Callan’s current Chairman and CEO Ron Peyton will become executive chairman. The company will also move its legal corporate structure from a single S-Corp to a limited liability corporation (LLC), also effective September 1. The change is to continue the firm’s vision of a broadly distributed employee ownership.

“We are continuing the rollout of a succession plan that was put in place 10 years ago,” Peyton said in a statement. “Greg and I have been managing the firm together since that time. No reporting lines are changing aside from Greg reporting to the Board, and I will continue to be an executive of the firm, involved in day-to-day management, and working with our valued clients.”

Employee owned since its 1973 founding, Callan has 90 employee shareholders—none of whom own more than 20% of the firm. Callan expects its shareholders to expand to 100—the maximum allowed for a single S-Corp structure. Under an LLC structure, there are no limitations to the number of employee shareholders.

“This change gives us the flexibility we need to continue to increase the number of employee shareholders beyond 100 employees,” Allen said. “We will continue to use the same measured approach to adding new shareholders that we’ve used for decades. We believe broadly distributed employee ownership helps to ensure that our clients’ and fellow employees’ best interests are paramount.”

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Callan’s President and Director of Research, Greg Allen

Tags: Callan, Greg Allen, Ron Peyton, Strategy

AMP Capital is celebrating a record $4.1 billion in commitments upon the final close on its infrastructure debt strategy, AMP Capital Infrastructure Debt Fund III (IDF III)—more than doubling its $2 billion target.

The Australia-based special investment manager—which features more than A$165 billion in funds under management—raised $2.5 billion for the mezzanine debt strategy, another $800 million in co-investment rights, and an additional $800 million from investors seeking access to its deal capabilities.

Believed to be one of the largest infrastructure debt strategy fundraises in the world, IDF III contains more than 125 investors from 12 countries—the strongest coming from Japan, Korea, Canada, and Germany-based institutional investors. It’s also AMP Capital’s third infrastructure debt fund in six years.

After it raised $500 million globally, AMP’s first infrastructure debt fund was closed in 2012. Its successor, IDF II, raised $1.1 billion—with $250 million in additional co-investment pledges.

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“We had success in new markets such as Korea, where we raised more than $300 million, and Canada, where some of the country’s large pension plans invested in our strategy for the first time. Japanese investors, early adopters of infrastructure debt as an investment strategy, were also strong supporters of the fund,” said AMP Capital Global Head of Infrastructure Debt Andrew Jones in a statement. “Our focus is now on finding great assets on behalf of our IDF III investors. We have already secured four high-quality assets for the fund and are seeing further opportunities across a range of sectors, including renewables, telecommunications, and energy distribution in OECD countries. Infrastructure companies increasingly view private mezzanine debt as an ideal source of funding for a range of their specialised financing needs.”

IDF III has a four-year investment period.

Tags: AMP Capital, Debt, Infrastructure, Infrastructure Debt Fund III