11 June 2009 - Foresight Group (“Foresight”), a leading alternative asset manager, announced today that it has been appointed as investment manager of Keydata Income VCT 1 plc and Keydata Income VCT 2 plc (“the Companies”). This appointment follows the announcement by the FSA on 09 June 2009 that it had placed Keydata Investment Services into administration.
This appointment builds on Foresight’s existing environmental infrastructure experience. Both of the Companies principally invest in renewable energy companies, more specifically projects which involve generating heat and power from biomass plants. Foresight has extensive experience of managing funds with existing investments in the Companies’ primary interest area.
These are the fourth and fifth new VCT mandates to have been awarded to Foresight in the past five years. All of the previous new VCT mandates have been successfully integrated into the Foresight group of VCTs and they have a strong track record of performance and dividend payments.
Bernard Fairman, Managing Partner of Foresight Group said:
“By assuming the role of investment manager to these two Companies - focused on areas which are highly complementary to the experience we have gained through our existing mandates - we further expand our reach in the environmental infrastructure arena.”
Stephen Oxenbridge, Chairman of the companies said:
“We are aware of the need for a period of stability following recent events and believe that the expertise and support provided by Foresight’s team will be in the best interests of both the Companies and their respective investors.”