Principal Global Investors targets infrastructure hires

The US-based fund manager is thinking about further diversifying its business through strategic hires

Principal Global Investors said it is considering a move into infrastructure in addition to plans it announced earlier this year to acquire a non-US real estate manager.

Jim McCaughan, chief executive of the $292.4bn asset manager, told Financial News the firm was considering building out an infrastructure team through strategic hires, though it had not made any final plans. The US-based manager has previously sought to diversify its business through acquisitions.

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