Investment Committee

The Investment Committee is composed of four members:

  • Three independent members, selected by the Investors Board Andy Friend, Renato Ravanelli and Dipesh Shah;
  • The CEO of InfraMed Management: Frederic Ottavy;

The independent members have been chosen for their individual expertise, experience and knowledge of investments in infrastructure and of the region. They are independent from the sponsors and from InfraMed Management.


Andy Friend

Independent Member, Chairperson
    Andy Friend chairs the investment committee of the advisor to a corporately backed core OECD economic infrastructure fund. Over the last five years Andy has also been active in a wide range of public and private sector advisory and NED roles, including as Commercial Advisor for the UK Department for Transport and as a panel member of the UK Government’s Major Project Review Group. Prior to 2006 he spent 7 years at John Laing, a FTSE250 specialist infrastructure developer with an extensive European PFI/PPP portfolio, first as Managing Director of Investments and then later as the Group’s CEO. He was responsible for growing the portfolio of PPP assets from £146million (June 2000) to £420 million (June 2006), both through primary asset origination and through brownfield acquisition of the Hyder & Amey Investments portfolios and expansion within the broader European market. Between October 2001 and November 2005 market capitalisation of the listed company increased from £89.5m to £654.0m prior to Henderson's on market takeover of the business in November 2006 for £1.0 Billion. Before this Andy was an associate Director at Macquarie Bank; covering project and structured finance. Andy was Chief Executive of the City of Melbourne in the 1990s, having first set-up an economic development unit for the City in 1985. Andy has an extensive knowledge of infrastructure investment having appraised a great range of capital projects, many of them in the transport sector.

    Renato Ravanelli

    Independent Member
      Renato Ravanelli is Chief Executive Officer of F2i sgr. F2i (Funds for Italian Infrastructure) is the fund management company ("società di gestione del risparmio" or "sgr") that has set up the largest Italian closed-end investment funds dedicated to investments in the infrastructure sector. From early 2008 to mid-2014 he was Managing Director and the executive of the management board of A2A Group – the main Italian multi-utility company operating in the power, gas and environmental sectors, as well as in the management of energy distribution networks (electricity, gas, water, heating). From 2005 to 2007 he was CFO and an executive member of the Edison Group's Board of Directors. In the previous 9 years he held the position of CFO and Strategy Director for AEM Group. While in AEM, he was also Head of electric power and gas trading. He began his career in 1990 carrying out studies and research within the insurance and public utility sectors. He then spent four years as a macroeconomist and financial analyst in the Economic Research Department of two Italian Financial Institutions. Renato holds a Degree in Economics with full marks from the Catholic University of Milan.

      Dipesh Shah

      Independent Member
        After an extensive career as Chief Executive of several large businesses in Energy (Renewables, Oil & Gas, Nuclear), Dipesh Shah now sits on the Boards of the EU Marguerite Fund, where he Chairs the Investment Committee; Thames Water, the largest water utility in the UK; The Crown Estate which is amongst the largest property companies; Canaccord Genuity Group Inc, a Toronto-listed Financial Services firm; Cavendish Fluor Partnership Llp; and Genesis Housing Association, which provides social and affordable housing in central London and surrounding Boroughs. He previously served on the Boards of Lloyd’s of London, the oldest Insurance market, and FTSE-100 listed Babcock International Group Plc. Dipesh is the former Chairman of Viridian Group Plc, a FTSE listed all-Ireland power utility where he oversaw a doubling of market cap to £2Bn; HgCapital Renewable Power Partners Llp, a leading Private Equity fund; and the European Photovoltaics Industry Association where he was elected Chairman on five occasions. His Chief Executive Officer roles spanned the UK Atomic Energy Authority where he pioneered the acceleration of nuclear decommissioning, saving £1.5Bn, and Businesses in BP. These included the largest pipeline and processing facilities which delivered PBT of over $700m p.a. in $10/bbl world, and BP’s renewable portfolio which he transformed from loss-making to the first Renewables company valued at over $1Bn in the mid-1990s. He was also the Global Head of Acquisitions and Divestments for BP Group, covering a portfolio of ca. $100Bn. Earlier in his career, Dipesh was the youngest-ever Chief Economist for BP Oil UK. He graduated in Economics with Distinction from London University, and from Warwick University and Harvard Business School.

        Frederic Ottavy

        Chief Executive Officer
          Frederic is InfraMed’s CEO and sits on the investment committees of InfraMed, Amethis Africa Finance and Benjamin de Rothschild Infrastructure Debt Generation. His previous position was as Director at the French Agency for Development (AFD) where he created the Financial and Legal Engineering Department, also sitting on the Investment committees of PROPARCO and of the FISEA investment fund, and chairing the ARIZ guarantee fund. Previous to this role, Frederic assembled the Non-Sovereign division of AFD. Frederic joined the AFD Group through PROPARCO, where he created the Corporate Finance division. Prior to PROPARCO, Frederic worked for the European infrastructure investment arm of the Californian Edison International power group, based in the UK. Beginning his professional career with Société Générale, Frederic held successive positions including Associate Director on the London Project Finance team.