Independent infrastructure manager Ancala has promoted Ashley Hough to partner, alongside five further promotions across its investment, asset management and operations teams.
Hough joined Ancala in 2019 and has played a pivotal role in building and leading the firm’s Asset Management function. He is responsible for applying Ancala’s proactive asset management approach across the portfolio, working closely with management teams to deliver business plans and drive value creation.
In the investment team, Michael Hegarty and Jayden Muscat have been promoted to vice president, and Kevin Xu to associate. In the asset management team, Noah Riese has been promoted to associate and will transition from ESG into a wider role. Also, Emma Ryan has been promoted to fund operations manager.
The promotions follow a significant period of activity for Ancala. In 2025, the firm deployed almost €800 million ($907.7 million) in new fund investments including Irish telecom to
