Nov. 2 (Bloomberg) -- Tiger Management, billionaire hedge fund manager Julian Robertson and Emil Henry Jr. said they started a private equity firm to invest in infrastructure in North America and Europe.

Tiger Infrastructure Partners LP will be run by Henry and invest mainly in industries such as energy, water and transport, the firm said in a statement today.

“There are many small and medium-sized infrastructure businesses that are outside the focus of larger infrastructure investors and strategic buyers,” Henry said in the statement. “Many of these businesses’ growth prospects are constrained by their capital needs. We seek to fill that gap.”

Henry was previously global head of infrastructure private equity at Lehman Brothers Holdings Inc., the New York-based bank that filed for bankruptcy in September 2008, according to the statement. He was previously assistant secretary of the U.S. Treasury.

The investment team at Tiger Infrastructure include Leanne Bell, who previously worked at General Electric Co., former Lehman Brothers employees Marc Blair, Alessandro Boninsegna, Pascal Casavecchia, and Adam Emmert, who was at Highstar Capital.

Robertson, 77, founded started Tiger Management LLC in 1980 and built it into the world’s largest hedge-fund managers by the late 1990s. He returned money to clients in 2000.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net;

Last Updated: November 2, 2009 14:21 EST