(Bloomberg) -- Credit Suisse Group AG appointed managing director Jonathon Kaufman as the head of its new global infrastructure, utility and renewables group.

“Infrastructure was the fastest-growing asset class in 2019, raising over $90 billion, and continues to be of strategic importance,” investment-banking chief David Miller, and Malcolm Price, who oversees the new group as well as financial sponsors and leveraged finance origination, said in a memo to staff Wednesday. Infrastructure funds have more than $200 billion to invest, they said in the memo.

Managing directors Michael Comisarow, in Toronto, and London-based Luke Gorton, who have led the bank’s efforts so far, will remain “critical members of the infrastructure team,” Miller and Price wrote. Kaufman, who’s based in New York, will work closely with sector-focused bankers including Brian McCabe for midstream, Stephen Plauche in transportation, John Pilant for services and Eric Federman across media and telecommunications.

Last year, Credit Suisse was involved in IFM Investors’ purchase of Buckeye Partners LP and Brookfield Asset Management Inc.’s acquisition of Genesee & Wyoming Inc., and advised on the sale of Wheelabrator Technologies Inc. to Macquarie Infrastructure Partners. It’s also set to provide financing for the pending purchase of Zayo Group Holdings Inc. by EQT Partners and Digital Colony Partners.

The Swiss bank’s rivals have also made changes to how they cover infrastructure clients in response to increased activity in the sector. In September, JPMorgan Chase & Co. named new global co-heads to a group covering infrastructure investors, citing “relentless growth” in the sector.

To contact the reporter on this story: Gillian Tan in New York at gtan129@bloomberg.net

To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Daniel Taub, Peter Eichenbaum

©2020 Bloomberg L.P.