Industry Funds Management (IFM) announced yesterday the opening of IFM's new office in Berlin.

Brett Himbury, CEO of IFM said: "Europe is a core growth market for IFM as a global investment manager. Our Berlin office is reflective of our commitment to the market, and being on the ground locally will help build our presence in the region and maintain strong, long term relationships."

IFM received regulatory approval in April 2013 to establish the office, which will be staffed by Lars Bespolka, Executive Director. Mr Bespolka joined IFM five years ago following a 15 year career in investment banking. He was previously based in IFM's New York office.

In Germany, IFM has an existing stake in 50Hertz, one of the four electricity transmission system operators in the country, which supplies power to more than 18 million people and companies. IFM will work closely with 50Hertz in the implementation of its €4 billion (US$5.2 billion) capital investment programme, which is fundamental to the success of the 'Energiewende', Germany's transition to becoming a sustainable economy through the use of renewable sources of energy.

Lars Bespolka continued: "We see strong potential for investment opportunities in Germany and neighbouring countries over the next few years including regulated gas and electricity transmission and distribution businesses, as well as transport, gas storage and other infrastructure sectors. Furthermore, we recognise the significant increased interest in our fund from German investors."

IFM has appointed Dr. Uwe Franke as a Senior Adviser for its expansion into the German speaking market. Mr Franke has over 30 years' experience in the oil and gas sector, having joined BP PLC in 1979. Most recently, Mr Franke was Chief Executive of BP Europa SE, before retiring in April 2012. Mr Franke has also served as Chairman of Mineralölwirtschaftsverband, the German national oil industry association, and serves as non-executive director of Hoyer GmbH and Basalt AG.

IFM opened its first European office in 2006 in London, United Kingdom, which has grown to over 20 employees following a significant increase in funds under management.  IFM is currently invested in five European assets: 50Hertz, Anglian Water, Arqiva Limited, Dalkia Polska and Manchester Airports Group (M.A.G). IFM acquired its 35.5% strategic stake in M.A.G in February 2013, following M.A.G's successful bid to acquire London Stansted Airport for £1.5 billion (A$2.3 billion, €1.8 billion). IFM is also expanding its infrastructure debt capability into the UK and Europe with the appointment of David Cooper as Investment Director in December 2012.

Owned by 30 pension funds, IFM manages over A$46 billion (€34.4 billion) across infrastructure, listed equities, private equity and debt on behalf of institutional investors.  IFM is one of the world's largest infrastructure managers with over A$13 billion (€9.7 billion) in infrastructure equity assets in Europe, US and Australia.  Including its headquarters in Melbourne, IFM now has five offices globally.