Bob Dewing was named portfolio manager for infrastructure debt at J.P. Morgan Asset Management, Mr. Dewing confirmed.
The strategy is new for J.P. Morgan, he said in an interview.
Mr. Dewing said he will initially head a five-person team that will bring together J.P. Morgan Asset Management's global fixed-income and global real assets groups.
He will report to Gary Madich, global chief investment officer, fixed income, and Mark Weisdorf, CEO of OECD infrastructure investments in the money manager's Global Real Assets group, according to a news release.
The team will invest in infrastructure debt held by banks, primarily seasoned loans, he said. It is expected to be a worldwide strategy, with the team initially seeking investments and institutional investors in Organization for Economic Cooperation and Development countries.
Infrastructure debt has “long-term debt with attractive credit characteristics that is in short supply in the current market,” he said.
Mr. Dewing was an independent consultant for J.P. Morgan Asset Management for nine months. Until 2008, he was managing director of infrastructure and energy finance at Citigroup. He also is an adjunct professor at Columbia Business School, teaching project finance.