Tue, Dec 6, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Former Man Group environmental specialist Nick Wood launches own wind energy income fund

Monday, April 15, 2013
Opalesque Industry Update – Resonance Asset Management, an alternative asset management firm, founded by industry veteran, Nick Wood, has raised £35m in assets for its inaugural wind energy income fund.

With a distribution agreement in place via boutique investment bank, Dexion Capital plc, initial commitments were raised from pension funds, insurance companies and family offices.

The fund, advised by Resonance, is ungeared and pays out all generated income to investors. Investors in the fund are seeking regular income that is linked to the price of wholesale electricity in the UK and the subsidies from the Renewable Obligation regime.

The offering will consolidate the fragmented ownership of operating small and medium-sized wind farms in the UK with generating capacity of 2MW to 10MW, providing wind farm developers with an exit on their projects. This will enable them to reinvest in further new wind farm developments.

The fund has recently signed its first wind farm acquisition, which is expected to complete shortly.

Resonance founder and chief executive Nick Wood said: “We are delighted to both have a first close on the fund and make its first investment within the month. We believe more institutional investors will appreciate the benefits of steady, low risk income from real assets, especially energy assets, to complement other income generating investments in their portfolios. We are actively seeking further investments of operating UK wind farms for our investors.”

Press release

Source

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  3. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  4. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  5. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released