-UK-based Foresight Group launches $100 million bioenergy fund with Australian CEFC-
31 March 2016 -
Independent infrastructure investment manager and private equity investment manager, Foresight Group ("Foresight”), has made its first hire to support its expansion into Southern Hemisphere with the recruitment of Sydney-based project financier, Gary Sofarelli.
In December 2015, Foresight announced the launch of the $200 million Australian Bioenergy Fund ("ABF”), cornerstoned by the Australian Clean Energy Finance Corporation ("CEFC”). The fund is focused on making investments of $2 million to $50 million into bioenergy projects around the country, ranging from small-scale anaerobic digestion plants to mid-scale waste to energy developments.
Gary is the first local team member to join Foresight and his recruitment will be shortly followed by the opening of a local office in Sydney.
With more than 12 years’ experience in Project Finance and a strong background in credit risk and portfolio and asset management, Gary is a strong foundation on which Foresight will build their Australian team. Gary previously worked at National Australia Bank and WestLB, in the Infrastructure and Energy Project Finance teams, respectively.
Foresight is a prominent independent infrastructure and private equity investment manager headquartered in the UK. The Group currently has $3.6 billion of assets under management and has offices in London, Manchester, Nottingham, Rome and San Francisco. Foresight’s portfolio of environmental projects in the UK total 126MW of generation capacity once operation and an annual carbon abatement of more than 1 million tonnes CO2e.
Nigel Aitchison, Partner, Foresight Group, commented:
"Having won the CEFC mandate, the natural course of action was to initiate the recruitment of a team on the ground and I'm delighted that Gary has become the first member of the Australian team.
"Our experience in the UK across a variety of environmental infrastructure projects stands us in good stead to adapt those strategies for the Australian market. Having Gary on board and based in Sydney enables us to keep abreast of opportunities as they come out to market.”
Gary Sofarelli, Director, Foresight Group, commented:
"I’m thrilled to join the Foresight team and am excited for the opportunity to build the business and a team here in Australia. We are already exploring several investment opportunities for bioenergy projects, and there seems to be no end of enthusiasm from the marketplace to build the sector.”
For further information, please contact:
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Notes to editors:
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).