CIM Group has hired transportation and logistics specialist Michael Turner to help grow its infrastructure investment business, a platform that has funded digital and social infrastructure, renewable energy and transportation projects throughout North America for 17 years, according to the developer and owner based in Los Angeles.
Turner will be based in CIM Group's L.A. office as managing director of investments, with a goal of helping the firm further grow its infrastructure portfolio. He will report to Jennifer Gandin, principal in the company's investments group and co-head of infrastructure. CIM Group said it plans to hire more infrastructure specialists as the firm grows within the segment.
Turner formerly served as managing director at BAES Infrastructure, and previously sat on the board of Swift Current Energy. He also held executive positions at Stonepeak Infrastructure Partners and Macquarie Group.
CIM’s infrastructure investments have included a data center project in San Francisco at 400 Paul Ave.; a parking garage in Seattle; a wind and solar farm in California’s Kern County; and a museum and cultural hub in Anaheim, California.
Last year CIM Group raised $417 million from corporate and institutional investors to fund the growth of its Terreva Renewables company; the business line builds facilities that collect raw landfill methane gas and convert it into fuel for vehicles that run on compressed natural gas.
CIM Group appears to be an incubator of sorts for infrastructure investment talent. Former principal Michael Hoverman joined apartment giant Greystar in August to develop an in-house infrastructure business to capture demand from businesses and cities going digital and transitioning to renewable energy, CoStar News reported.
CIM Group is expanding its residential and student housing businesses, too. In July it formed Round Hill Capital Ventures, a $2.1 billion platform to manage the portfolio of residential and student housing specialist Round Hill Capital. The venture owns 13,450 residential units across 10 countries, mostly in Europe.