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Foresight Group energy infrastructure fund secures 342 mln euros

Foresight Group energy infrastructure fund secures 342 mln euros

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The Foresight Energy Infrastructure Fund will invest in low-carbon energy infrastructure such as renewable energy, battery and energy storage and transmission and distribution assets

LONDON: Foresight Group has secured 342 million euros ($379 million) for its energy infrastructure fund in its first close, the private equity investment manager said on Tuesday.

The Foresight Energy Infrastructure Fund will invest in low-carbon energy infrastructure such as renewable energy, battery and energy storage and transmission and distribution assets.

Foresight expects to use 275 million euros of the total raised to acquire assets quickly.

Commitments to the fund were made by institutional investors across Europe including the Swedish insurance company PRI Pensionsgaranti, the European Investment Bank, sustainable infrastructure fund Arcano Earth Fund, and Norwegian financial services group DNB’s life insurance company.

The fund’s strategy has been designed with a focus on “the global transition to decentralised, digitised and decarbonised networks,” said Dan Wells, partner at Foresight.

Foresight has around 4.5 billion pounds ($5.9 billion) of assets under management, of which more than 3 billion are related to energy infrastructure.

($1 = 0.9014 euros)

($1 = 0.7608 pounds)

Source:

Anand Gupta Editor - EQ Int'l Media Network

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