Key Takeaways
- • IFM Investors announced that Julio Garcia, Head of Infrastructure, North America, intends to retire after more than 18 years with the firm, stepping down from executive responsibilities after a transition period.
- • Michael Kulper will succeed Garcia as Head of Infrastructure, North America; he joined IFM in 2013 and led origination of the toll road portfolio, which represents approximately USD$28 billion NAV.
- • Garcia will remain at IFM through an appointment to the Investment Committee and will stay active in leadership during the transition.
- • Kulper previously spent a decade founding and leading development of Transurban's North America business before joining IFM.
- • IFM manages USD$201.5 billion in AUM for more than 900 institutional investors globally, per the company's release.
Summary
IFM Investors has announced a leadership transition in its North American infrastructure business. Julio Garcia, Head of Infrastructure, North America, has advised the firm of his intention to retire after more than 18 years with IFM, according to a Business Wire release issued from Houston. Garcia will step down from his executive responsibilities following a transition period, but will continue to contribute to the firm through his appointment to the Investment Committee.
Michael Kulper will succeed Garcia as Head of Infrastructure, North America. Kulper joined IFM in 2013 and played a key role in developing the firm's infrastructure equity business. He led the origination of IFM's toll road portfolio, which currently represents approximately USD$28 billion NAV, and has mentored several of IFM's current leaders. Before joining IFM, he spent a decade founding and leading the development of Transurban's North America business.
Kyle Mangini, IFM Investors Global Head of Infrastructure, said Garcia joined IFM in 2008 and helped build the firm's North American presence, led major investments and established IFM as a respected global infrastructure investor. Mangini described Kulper as a highly respected infrastructure investor and said he is confident Kulper will build on Garcia's legacy. Garcia will remain active in leadership during the transition period.
IFM invests on behalf of more than 900 institutional investors globally, with USD$201.5 billion in assets under management as of 30 September 2026 according to the firm. Its US assets include the Indiana Toll Road, Enwave and Freeport LNG.
Michael Kulper will succeed Garcia as Head of Infrastructure, North America. Kulper joined IFM in 2013 and played a key role in developing the firm's infrastructure equity business. He led the origination of IFM's toll road portfolio, which currently represents approximately USD$28 billion NAV, and has mentored several of IFM's current leaders. Before joining IFM, he spent a decade founding and leading the development of Transurban's North America business.
Kyle Mangini, IFM Investors Global Head of Infrastructure, said Garcia joined IFM in 2008 and helped build the firm's North American presence, led major investments and established IFM as a respected global infrastructure investor. Mangini described Kulper as a highly respected infrastructure investor and said he is confident Kulper will build on Garcia's legacy. Garcia will remain active in leadership during the transition period.
IFM invests on behalf of more than 900 institutional investors globally, with USD$201.5 billion in assets under management as of 30 September 2026 according to the firm. Its US assets include the Indiana Toll Road, Enwave and Freeport LNG.
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