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The Sydney-based alternative investment manager, Causeway Asset Management has appointed Richard Lourey as Managing Director-Water & Fund Management. Mr. Lourey, who is based in Melbourne, will establish the Causeway Water Fund.

Mr. Lourey brings to the role 20 years' experience in the capital markets, working in Australia and overseas in London and New York for various organizations, including ANZ Securities, Ord Minnett, JPMorgan and Austock.

Causeway Asset Management, which has assets under management and advice of $650 million, was established in 2003. It currently manages the Private Debt Opportunities Fund and is raising the Private Debt Opportunities Fund II.

Mr. Lourey, who joins a team boasting more than 75 years of investment experience across a range of asset classes, says it's an exciting time to be involved with Causeway. He says: "Causeway's traditional debt business and now the Water Fund are two areas of major interest for investors and I am very excited about the opportunities that exist in these two markets.

"A chronic supply/demand imbalance caused by population growth, industrialisation, scarcity, contamination, climate change and food security issues is causing the value and price of water to rise.

"In Australia, while the water market is still fragmented and inefficient, it is developing. This means that as trading restrictions are eroded, water will move from low to high value uses. We believe this underpins t......................

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