Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
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   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1