Citigroup has hired Juan Bejar, head of Grupo Ferrovial’s infrastructure division, to head a new fund looking to raise $3bn. Financial Times

Bejar has led some of the biggest deals in the sector, including the £16.3bn acquisition of UK airports operator baa.

Behar will be co-head of Citi Infrastructure Investors with Felicity Gates. Gates worked for Macquarie Bank before joining Deutsche Bank asset manager RREEF, where she ran its North American infrastructure fund.