BIRMINGHAM, Ala., Feb. 16, 2023 (GLOBE NEWSWIRE) -- Harbert Management Corporation (“HMC”) announces the promotion of Claude Estes to Head of Infrastructure and Senior Managing Director.

In his new role, Claude will be charged with overall responsibility for Harbert Infrastructure’s activities including acquisitions, asset management and the strategic direction of the platform.

Claude joined HMC in 2015 and has held escalating positions including most recently, Head of Investments of Harbert Infrastructure. During his time as Head of Investments, Claude oversaw substantial growth of the platform with the team now managing over $3.5 billion for domestic and international partners. Claude managed complex transactions with industry leading partners and expanded the team’s capabilities through strategic hiring efforts and the opening of a new office in Charlotte, NC.

Claude steps into the position previously held by Pat Molony who will transition into the role of Chairman of the Investment Committee and Senior Advisor.

HMC President and COO, Travis Pritchett commented, “Harbert has successfully invested in infrastructure for over 30 years and for over 20 years through HMC’s fund strategies. Claude brings sound judgement, creativity and energy to a very important role within HMC. Our partners and clients will benefit from Claude’s leadership.”

Claude added “Harbert Infrastructure has been a respected investor in the infrastructure space for decades and a team that I once admired from afar. The last eight years, I have had the honor of being a member of the team, confirming the basis of my admiration. We collectively feel that we are in the right place at the right time with the right experience to prudently invest capital into the volatility and associated opportunities created by the energy transition.”

About Harbert Management Corporation
Harbert Management Corporation is an alternative asset manager with approximately $8.4 billion in Regulatory Assets Under Management as of January 31, 2023. Formed in 1993, the firm is privately owned and serves a variety of institutional investors across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, U.S. growth capital, credit solutions, infrastructure, and absolute return funds. For additional information about HMC visit, www.harbert.net.

Contact: HMC Corporate Communications
Telephone: 205.987.5500
E-mail: tmaddox@harbert.net

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a4f2c2b-2767-4596-a67e-69134ce410f0