13 January 2016 – Foresight Group ("Foresight”), the leading independent infrastructure and private equity investment manager, is pleased to announce the promotion of James Livingston, Dan Wells and James Samworth to Partner as of 1st January.
- Three promotions to Partner – James Livingston, Dan Wells and James Samworth
- Assets under management grow 33% to £1.8 billion
- 68 operational solar assets - Renewable electricity generation capacity 660MW, sufficient to power more than 170,000 UK homes
- 18 waste projects under construction or operational – Waste processing capacity – 1 million tonnes per annum; Energy generation capacity 126MW
- Planned new office in Australia following £100m CEFC fund announcement
- Regional Investment Fund for North West announced – planned new office in Manchester
- Nine new investments in UK SMEs to a value of £30m
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The promotions follow major expansion in the Group during 2015, which has seen staff numbers increase by 47% as the Group relocated its UK Headquarters to Floor 23 of the Shard, and assets under management grow by 33% to £1.8 billion.
Foresight has seen growth across each of its three core disciplines of Environmental, Infrastructure and Private Equity investing.
In the environmental division, the team announced three new funds during the course of the year, the £50m Recycling and Waste (RAW) fund, cornerstoned by the Green Investment Bank ("GIB”), targeting small scale waste and recycling projects in the UK, the £200 million waste to energy investment platform, Bioenergy Infrastructure Group ("BIG”) and a £100m fund (AUS $200m) cornerstoned with £50 million from the Clean Energy Finance Corporation (CEFC) to invest in projects producing clean energy in Australia.
Foresight has fully deployed its two institutional funds the £60 million Foresight Environmental Fund (FEF) and the £78 million UK Waste Resources and Energy Investments (UKWREI) Fund investing in 18 waste projects across the UK. They will have a waste processing capacity of more than 1 million tonnes per annum when fully operational, generating 126MW of renewable energy and a total capital value of more than £800 million.
The Infrastructure team has continued to expand Foresight’s portfolio of solar power plants in the UK, US and Southern Europe and funds managed by Foresight now own 68 operational solar plants with an enterprise value in excess of £1 billion and a generating capacity of 660MW.
Foresight Solar Fund Limited (ticker FSFL.LN) is the UK’s largest listed solar fund in terms of operational assets with 338MW of capacity, and continues to deliver its index-linked target dividend of 6.1p per share.
Foresight’s Private Equity team recently announced its second Regional Investment Fund, targeting investment in SMEs in the North West, South Yorkshire and North Wales. Foresight already manages the £40 million Foresight Nottingham Fund launched in 2013 which targets investments into profitable businesses and start-ups in the Nottinghamshire region.
In 2015, Foresight’s Private Equity team made nine realisations from its portfolio, generating £27 million for Foresight funds, and made nine new investments into UK SMEs to the value of £30 million.
The promotion of three new Partners, James Livingston, Dan Wells and James Samworth, who were respectively former Directors of the Private Equity, Infrastructure and Environmental teams will add strength and depth to the senior management of Foresight Group LLP, which now numbers 12 Partners.
Bernard Fairman, Chairman of Foresight, commented:
"As our business continues its rapid expansion, we will continue to promote regularly to add Partners who are able to contribute significant value add to the business. James, Dan and James have already made terrific contributions to their respective areas of focus, and we are delighted to welcome them formally into the Partnership, where I am confident they will all continue to help us in achieving our aims.”
About Foresight Group LLP ("Foresight”):
Foresight Group is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £1.8 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).