Legal & General Investment Management (‘LGIM’), the largest UK-based asset manager and NTR, a leading renewable energy specialist, have successfully raised €390 million in committed capital and co-investment opportunity in the first close of the L&G NTR Clean Power (Europe) Fund (the ‘Fund’).
The Luxembourg-based Fund invests in clean power infrastructure assets across wind, solar and energy storage, putting private capital to work to drive Europe’s decarbonisation and energy security agenda. It is classified as an Article 9 fund under the European Union’s Sustainable Finance Disclosure Regulation.
The Fund is designed for institutional investors with a focus on pension funds, insurers and endowments. At first close, the Fund has raised commitments from a range of sources, including from European asset management, Japanese institutional investors and theNatWest Group Retirement Savings Plan, which utilised LGIM’s life company platform to gain exposure to the fund. This is in addition to €50 million of co-investment from Legal & General (‘L&G’).
Source: group.legalandgeneral.com on the 19th of April 2023
https://group.legalandgeneral.com/en/newsroom/press-releases/lgim-and-ntr-raise-390-million-in-first-close-of-clean-power-europe-fund