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Interim close for Foresight Energy Infrastructure Partners with Fund commitments of €430 million and total capital pool of over €600 million

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  • Foresight has raised €600 million for its energy transition strategy (€430m in Fund, €170m from co-investors)
  • New commitments of €89 million raised since first close
  • Fundraising continues until July 2021 targeting Fund commitments of 500 million and a hard cap of €750 million.
  • Sustainability-led energy infrastructure Fund investing predominantly in Europe

Click here to view the announcement as a PDF

London, 07 January 2021: Foresight Group (“Foresight”), a leading infrastructure and private equity investment manager, announces an interim close for Foresight Energy Infrastructure Partners (“FEIP” or “the Fund”) having secured Fund commitments of c.€430 million.  Including co-investments to date, this represents a total capital pool in excess of €600 million.

This close sees new investment from Postens Pensionsstiftelse, investment manager of the Swedish National Post Service, and a US-based institutional investor alongside the first close commitments of €342 million announced in January 2020.  In April this year, Foresight signed advisory agreements with nine co-investors for the acquisition of the 231MW Skaftåsen wind project in Sweden (announced April 2020).

Each asset acquired by the Fund is independently assessed for compliance with the EU Green Taxonomy.  Together with reporting on alignment to the UN’s Sustainable Development Goals, this provides investors with greater transparency on the sustainability credentials of the portfolio and gives assurance that projects are making a genuine contribution to global sustainability targets.

Commenting on this second close of the Fund, fund managers Dan Wells and Richard Thompson, Partners at Foresight, said: “We are delighted to welcome our new investors.  FEIP remains on track to become one of the leading platforms designed specifically to capture opportunities from the evolving energy infrastructure sector in Europe.  We believe the sector is poised for significant growth given the well-publicised EU support for green recovery and the accelerating global transition to decentralised, digitised and decarbonised networks.”

Rufus Parkes, Institutional Capital Manager at Foresight, added: “As investor appetite for sustainability-led strategies continues to grow, our focus remains on the continuing rapid deployment of the Fund into a portfolio of high-quality assets.”

FEIP’s investment strategy has been shaped to achieve specific decarbonisation objectives in line with the Paris Climate Agreement.  It aligns with the UN’s Sustainable Development Goals (“SDGs”), in particular with respect to Affordable and Clean Energy (SDG 7), Industry, Innovation and Infrastructure (SDG 9) and Climate Action (SDG 13).

Foresight offers high quality Sustainability and ESG reporting which covers ongoing monitoring of metrics such as greenhouse gas reduction and greenhouse gas intensity of invested capital, renewable energy generation and diversion of waste from landfill among others.

Advisers:

Foresight is partnering with Worthwhile Capital Partners as Placement Agent for the Nordic region and Astrid Advisors for Europe ex Nordics. Ashurst LLP acted as legal advisor.

ENDS

For more information please contact:

Ben Thompson, Foresight Group, bthompson@foresightgroup.eu | +44 (0)20 3667 8155

NOTES TO EDITORS

About Foresight Group LLP (“Foresight”):

Foresight is an award-winning infrastructure asset and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 36 years.

As at 30 September 2020, Foresight had c.£6.8 billion of Assets Under Management, of which £3.7 billion related to renewable energy infrastructure. It manages 277 renewable generation assets globally, with a total generating capacity of 2.7GW.

Foresight manages more than 160 solar plants around the world generating over 1.5GW of solar power.  Foresight has approximately 800MW of wind generation assets across the UK, France, Spain, Germany and Sweden of which 566MW are operational.

Foresight manages more than 40 bioenergy and waste projects processing some 1.8 million tonnes of waste every year, having mobilised approximately £900 million of capital investment into the sector.  In addition, Foresight manages 210MW of Reserve Power assets and four utility scale Battery Storage projects providing 47MW of Enhanced Frequency Response services to National Grid.

Foresight has offices in London, Rome, Madrid, Luxembourg, Sydney, Manchester, Nottingham, Edinburgh, Cambridge, Milton Keynes, Leicester and Guernsey.

www.foresightgroup.eu

About Worthwhile Capital Partners:

Worthwhile Capital Partners is an independent placement agent focusing on investment strategies that support institutional investors in the Nordic region in their ambition to meet their return and sustainability targets. Founded in 2018, the company supports fundraising across sectors such as climate change mitigation, sustainable use of water and marine sources, the circular economy, a healthy and efficient ecosystem and pollution prevention.

www.worthwhilecap.com

About Astrid Advisors

Astrid Advisors is an independent specialist in fundraising and advisory services for private market strategies, focusing on infrastructure, real assets and private credit.  Founded in 2019, the company partners with a select group of managers who have the potential to be outstanding and differentiated in their field and can demonstrate strong ESG credentials and sustainable investing philosophies.

www.astridadvisors.com