Eric Purington
About Eric Purington
Eric Purington serves as an Investment Director on abrdn’s Real Assets team and is a Portfolio Manager for ASGI with primary responsibility for the fund’s private/direct infrastructure investments; he joined abrdn in April 2022 and has served as a fund officer (Vice President) since 2023 . Prior roles include Investment Director at Tribay (2019–2022) and EverStream Capital (2014–2019), with a focus on renewable energy in the U.S. and Asia; he began his infrastructure investing career at Highstar Capital (now part of Oaktree) in 2010 and is a graduate of Yale College (Year of Birth: 1985) . Fund filings disclose team outcomes in the private sleeve under his remit, including a 3x cost exit of a private waste company in July 2024 and dividend distributions from Sentinel Midstream equal to >$2 million (20% of invested capital) in 2024, illustrating tangible value-creation milestones during his tenure on the private program . As a closed-end fund, ASGI does not report TSR or EBITDA growth as executive performance metrics, and portfolio manager compensation at abrdn is described as base salary plus discretionary bonus evaluated on team performance rather than on individual account performance targets .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| abrdn (Real Assets team) | Investment Director; PM for ASGI private/direct infrastructure | 2022–present | Leads private/direct infrastructure investments for ASGI; manages four abrdn Energy & Natural Resources private funds . |
| Tribay | Investment Director | 2019–2022 | Renewable energy investing across U.S. and Asia . |
| EverStream Capital | Investment Director | 2014–2019 | Renewable energy investment in U.S. and Asia . |
| Highstar Capital (now part of Oaktree) | Infrastructure investing (career start) | 2010–2014 | Early training in private infrastructure transactions . |
External Roles
- Not disclosed in ASGI filings reviewed .
Fixed Compensation
| Item | Disclosure |
|---|---|
| Fund-paid officer compensation | None of ASGI’s executive officers received any compensation from the Fund for FY 2024; all officers are employees of and compensated by the Investment Adviser or its affiliates. The Fund has no bonus, profit sharing, pension or retirement plans . |
| PM compensation framework at the Adviser (abrdn/ASI) | Portfolio managers’ compensation consists of base salary and discretionary bonus assessed on team performance; individual account performance is not determinative of the discretionary bonus; emphasis on process discipline and risk controls (SAI/prospectus framework) . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at individual-PM level | — | — | — | — | — |
- Context: abrdn’s framework emphasizes team-based evaluation (base + discretionary bonus) rather than fund-specific EPS/TSR targets for portfolio managers .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| PM beneficial ownership in ASGI | As of September 30, 2024, “Dollar Range of Equity Securities” beneficially owned by Portfolio Manager Eric Purington: None; by contrast, co-PMs Joshua Duitz and Donal Reynolds each disclosed $50,001–$100,000 ranges . |
| Officers & Trustees aggregate ownership | As of April 1, 2025, ASGI’s Trustees and officers in the aggregate owned less than 1% of the Fund’s outstanding equity securities . |
| Insider trading/activity | Third-party aggregator indicates no Form 4 transactions by Eric Purington in the past 18 months; role listed as Vice President (cites SEC ownership reports) . |
| Pledging/hedging | Not disclosed in reviewed fund filings . |
| Ownership guidelines (officers) | Not disclosed for officers in reviewed filings; trustee ownership tables are provided, but no officer guideline detail . |
Employment Terms
| Item | Disclosure |
|---|---|
| Fund officer title | Vice President (ASGI officer) . |
| Officer term mechanics | Officers hold their positions until a successor has been duly elected and qualifies; officers are elected annually at a meeting of the Board of Trustees . |
| Employer | abrdn Inc. (officers are employees of and compensated by the Investment Adviser or affiliates) . |
| Start date at abrdn | Joined abrdn in April 2022 . |
| Start as ASGI officer | Since 2023 . |
| Employment agreement, severance, change-of-control (fund-level) | Not disclosed for officers at the fund level; no fund-paid compensation or plans disclosed . |
| Clawback, tax gross-ups, deferred comp, perquisites | Not disclosed for fund officers; Fund indicates no bonus, profit sharing, pension or retirement plans . |
Performance & Track Record (role-relevant highlights)
| Area | Evidence |
|---|---|
| Private market value creation under PM remit | ASGI reported a private waste company exit at 3x cost in July 2024 after a three-year hold, and that Sentinel Midstream had returned >$2 million (20% of invested capital) to ASGI in 2024 via dividends; Mr. Purington is primarily responsible for the Fund’s private/direct infrastructure sleeve . |
| PM remit confirmation | “Mr. Purington is primarily responsible for the Fund’s private/direct infrastructure investments” (Item 13, PM biographies) . |
| Team composition | PMs responsible for day-to-day management: Joshua Duitz (Global Income), Eric Purington (Real Assets/private sleeve), Donal Reynolds (Global Equities) . |
Expertise & Qualifications
- Investment Director on abrdn Real Assets team; Portfolio Manager for ASGI’s private/direct infrastructure investments .
- Prior renewable energy investing experience across U.S./Asia at Tribay and EverStream Capital; early career at Highstar (Oaktree) .
- Education: Yale College; Year of Birth: 1985 .
Governance Notes (Fund context)
- Officer status, election mechanics, and committee structure (Audit; Nominating & Corporate Governance) are disclosed for the fund; officers receive no compensation from the fund .
- Section 16(a) compliance: Fund reports timely filings for officers for FY 2024; certain late Form 3s in prior year pertained to Trustees, not officers .
Investment Implications
- Alignment: Fund filings show the PM’s disclosed dollar range of ASGI ownership as “None,” and aggregate officer/trustee ownership <1%—a potential alignment gap for an active PM on the private sleeve; monitoring for future Form 4 activity is warranted .
- Incentives: PM compensation at abrdn is base + discretionary bonus with team-based evaluation rather than formulaic fund TSR/alpha metrics—this reduces direct pay-for-performance sensitivity but supports stable process adherence; absent fund-level compensation, there are no ASGI-specific bonus/option/RSU pressures disclosed .
- Selling pressure: With no reported ASGI share ownership by the PM as of 9/30/24, near-term insider selling pressure from vesting/option exercises appears minimal; lack of holdings also removes positive signaling from insider buys .
- Execution: Documented private asset outcomes (3x exit; Sentinel dividends) indicate capable execution in the private sleeve; continued realization pace and cash yields from private holdings are key for distribution sustainability and NAV accretion under his remit .
- Retention risk: Terms such as severance, CIC, non-compete, and clawbacks are not disclosed at the fund level; as an abrdn employee, retention is tied to corporate policies and career incentives rather than fund-specific contracts—investors should monitor abrdn organizational changes and Real Assets platform stability .