The UK defined contribution fund, NEST has added a number of new asset classes to its portfolio over the past year – including infrastructure with a focus on renewables – but the fund is still missing an allocation to private equity. CIO Mark Fawcett spoke to Amanda White about the fund’s challenge to the industry on private equity fees, its focus on climate-aware portfolios and innovative approaches to portfolio management.
From a standing start 10 years ago the UK defined contribution fund NEST has amassed £17 billion on behalf of 10 million members and has built a diversified portfolio with innovative implementation and fee structures.
Octopus Renewables acquires two UK biomass plants
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Octopus Renewables snaps up 85MW of biomass power capacity
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Octopus Renewables leverages Nest investment and acquires biomass plants
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Octopus Renewables leverages Nest investment and acquires biomass plants
Octopus Renewables has acquired two operational UK biomass power plants in one of the largest domestic deals of its kind.
Image: Octopus Energy
Octopus Renewables Infrastructure Trust, part of the Octopus Group, has secured a €43 million (£37m) loan that will allow the company to finance a newly acquired onshore wind farm in France.
The finance, provided by the French investment bank Societe Generale, is predicted to fund the construction, commissioning, operation and maintenance of the 24MW Cerisou wind project.
Acquired in October last year, the project is expected to be fully operational next year.
Chris Gaydon, Investment Director at Octopus Renewables, said: “The competitiveness of the financial and commercial terms achieved with Societe Generale will allow the company to optimise returns and cash yield as well as maximising operational flexibility.”