About the team

Partners


Perry Noble

Head of Infrastructure


Perry joined Hermes Infrastructure in 2012 and is now responsible for all aspects of ...

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Perry Noble

Head of Infrastructure


Perry joined Hermes Infrastructure in 2012 and is now responsible for all aspects of infrastructure investment team activities including chairing the Infrastructure Investment Committee. With over 25 years of experience in the infrastructure sector he represents infrastructure client mandates on various portfolio company boards, including chairing the Thames Water holding company and chairing the Cadent Gas Sustainability Committee, where he is also a member of the Audit & Risk Committee. Perry was previously a Partner at a leading London law firm, where he was also Asia Managing Partner, Global Head of Finance and a member of the firm’s executive committee. Perry previously chaired the M25 PPP company.

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Emma Howell

Managing Director


Emma has over 21 years of financial services experience of which 15 have been ...

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Emma Howell

Managing Director


Emma has over 21 years of financial services experience of which 15 have been focused on the infrastructure sector. She joined Hermes Infrastructure in 2013 and is primarily responsible for the monitoring of investments across the infrastructure portfolio, with involvement in the final stages of deal execution. Emma oversees the valuation process and manages the quarterly reporting to investors as well playing a key role in investor relations activities for existing investors more generally, and is a member of the IIC. In her previous role as a Director at Deloitte LLP, she focused on providing assurance, advisory and transaction-related services to listed, private and infrastructure fund-owned businesses in the UK and globally. Emma holds a BA in Accounting and Law from the University of Newcastle and is a Chartered Accountant.

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Steven Pugh

Managing Director


Steven joined the Infrastructure team of Federated Hermes in 2019 and is the Partner ...

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Steven Pugh

Managing Director


Steven joined the Infrastructure team of Federated Hermes in 2019 and is the Partner responsible for leading the team’s origination activities as well as being a member of the Infrastructure Investment Committee. Steven has over 20 years of experience in the infrastructure sector and sits on the board of a number of our portfolio companies, including Associated British Ports and Viridor. Steven previously worked as a Director in the Infrastructure team at RBC Capital Markets for twelve years, where he was responsible for advising private and corporate clients on numerous large-scale infrastructure acquisitions and disposals across the UK and Europe.

Steven holds a BSc in Mathematics from the University of Bristol.

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James Wardlaw

Senior Advisor


James is a Senior Advisor to Federated Hermes Infrastructure having joined the firm in ...

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James Wardlaw

Senior Advisor


James is a Senior Advisor to Federated Hermes Infrastructure having joined the firm in 2021 focused on business development and relations with our existing investors. James has 38 years’ experience in financial markets, both public and private. James joined Federated Hermes from Campbell Lutyens where he led their infrastructure practice for 8 years before becoming Vice Chairman. Previously, he spent 23 years as a financing banker with Goldman Sachs, Merrill Lynch and SG Warburg. James also spent 3 years at HMTreasury with responsibility for the financing strategy of the major infrastructure projects in the UK. In addition, he was for 6 years a member of the expert panel of advisers to the UK Regulators Network, the internal network of the economic regulators in the UK.

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The Team


Desmond Wilkins

Director


Desmond joined Hermes Infrastructure in April 2018 (initially as a secondee from ...

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Desmond Wilkins

Director


Desmond joined Hermes Infrastructure in April 2018 (initially as a secondee from Deloitte) and is responsible for the ongoing monitoring of the infrastructure investment portfolio. Desmond has over 10 years of financial services experience across the energy and infrastructure sectors.

Prior to joining Hermes Infrastructure, Desmond was an Assistant Director at Deloitte where he provided financial due diligence and advisory services to a range of large corporate and fund investors. Desmond holds a BA in Modern Languages from the University of Warwick and is a Chartered Accountant.

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Josephine Spearman

Associate Director


Josephine joined Hermes Infrastructure in June 2022. Josephine is primarily responsible for ...

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Josephine Spearman

Associate Director


Josephine joined Hermes Infrastructure in June 2022. Josephine is primarily responsible for the structuring, managing and execution of investments.

Prior to joining Hermes Infrastructure Josephine worked as a solicitor, most recently working at Long Harbour Ltd, a specialist real estate investment, development and management firm where she was General Counsel for ten years.

Josephine holds a BA Hons in Politics and Media from Loughborough University, a Graduate Diploma in Law from BPP Law School, and an LPC from the College of Law.

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Nicholas Hards

Associate Director


Nick has over seven years of experience of infrastructure investing. He joined ...

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Nicholas Hards

Associate Director


Nick has over seven years of experience of infrastructure investing. He joined Hermes Infrastructure in 2011 as an Analyst and is now an Associate responsible for the sourcing, due diligence, modelling, analysis and monitoring of investments.

Nick has also worked on several successful divestments as part of Hermes Infrastructure’s ongoing management of its portfolio activities. Nick has a BA in Economics from the University of the West of England.

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Belen Vives

Associate Director


Belen has over five years of experience in infrastructure investing. She joined ...

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Belen Vives

Associate Director


Belen has over five years of experience in infrastructure investing. She joined Hermes Infrastructure in 2015 and is responsible for the modelling, analysis and monitoring of prospective investments across the Infrastructure sector; as well as ongoing, monitoring and valuation of investments across the existing portfolio.

Previously she was an investment banking analyst at Nomura International PLC. Belen holds a BA in Business Administration from the ESADE Business School.

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Joe Butler

Senior Associate


Joe is a Manager in the Federated Hermes Infrastructure team, with over ...

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Joe Butler

Senior Associate


Joe is a Manager in the Federated Hermes Infrastructure team, with over 5 years’ experience in the infrastructure and energy sectors. He joined the team in 2022 and is supporting asset management activities in renewables and transport.

Joe was previously working at EDF UK where he was part of the team responsible for the financing of Sizewell C, a new nuclear infrastructure project.

He holds an MSc from the London School of Economics and Political Science.

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Charlie Studdy

Associate


Charlie joined Hermes Infrastructure in May 2021 and is supporting the asset ...

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Charlie Studdy

Associate


Charlie joined Hermes Infrastructure in May 2021 and is supporting the asset management, origination and execution teams. Charlie has four years of financial services experience.

He joined from Alvarez & Marsal where he was an Associate in the European Valuations and Business Modelling team. Previously, he was an executive in RSM’s Corporate Finance team. Charlie holds an MChem in Chemistry from the University of Manchester and is a Chartered Accountant.

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Natasha Williams

Associate


Natasha joined Hermes Infrastructure in August 2021 and is supporting the monitoring ...

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Natasha Williams

Associate


Natasha joined Hermes Infrastructure in August 2021 and is supporting the monitoring and valuation of investments among the existing portfolio. Natasha has six years of experience in the financial services industry.

She joined from Deloitte where she was a Manager in the Infrastructure Valuations team. Previously she worked in Deloitte’s Transactions Tax team. Natasha holds a BSc in Biology from Durham University and is a Chartered Tax Advisor and Chartered Accountant.

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Jamie Rubie

Associate


Jamie joined Hermes Infrastructure in May 2022 and is supporting the asset ...

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Jamie Rubie

Associate


Jamie joined Hermes Infrastructure in May 2022 and is supporting the asset management, origination and execution teams.

Jamie has over 4 years of financial services experience and previously worked at RSM as an Associate within the Financial Modelling team. Jamie holds a BSc in Economics from Newcastle University and is a Chartered Accountant.

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