M&G Investments (M&G) has hired Paul Haegy as head of infrastructure debt and private placements within its £81bn ($110bn) private markets business.

He will lead the scaling of M&G’s origination and structuring infrastructure debt opportunities as part of the asset manager’s broader ambition to be the go-to asset manager in Europe for private markets, underpinned by long-term capital from its life business, according to a statement by M&G.

Haegy (pictured) joins M&G following more than 15 years at Goldman Sachs, most recently as head of EMEA infrastructure and energy financing, where he built and scaled a multi‑billion‑dollar financing franchise.

He brings expertise in energy transition, digital infrastructure and complex credit structures to build on M&G’s heritage as a European infrastructure debt investor, originating and structuring opportunities that support the delivery of scalable mandates for institutional clients. This includes deploying capital from M&G’s life business following its re-entry into the pensions risk transfer market in 2023 to support its £26bn annuity book and ambition to write £3-4bn in transactions annually.

Haegy reports to James King, head of M&G’s £24bn private & structured credit platform. The platform is supported by shared origination, research and portfolio construction to deliver long dated, solutions-led outcomes for both the Life business and third-party investors.  

King commented: “Paul brings deep experience in infrastructure and structured finance at a time when institutional capital has a vital role to play across Europe. His appointment supports the continued development of our European private and structured credit platform, where long dated capital from M&G’s life business is invested alongside third-party capital to deliver long-term solutions for clients.”

Haegy added: “Across Europe, infrastructure debt presents a compelling investment opportunity at a time when substantial private capital is required to support priorities such as energy transition and defence, as public spending remains constrained. M&G’s experience across multiple market cycles, combined with strong origination and credit expertise, positions the firm well to provide institutional investors with scalable access to long dated, resilient infrastructure debt opportunities.”