Aquila Capital targets €300m in London IPO for European renewables fund [corrected]

Aquila Capital plans to raise €300m by floating a European renewables company on the London Stock Exchange.

The Hamburg-based alternative asset manager intends to launch an initial public offering for Aquila European Renewables Income Fund and list its shares early next month.

Aquila European Renewables Income Fund will target a diversified portfolio of renewable energy technologies including wind, solar, and hydro across continental Europe and the Republic of Ireland (excluding the UK).

The fund will acquire mostly operational assets which generate income, Aquila Capital said, adding that it has identified a “pipeline of opportunities across Iberia and Scandinavia”.

The company is targeting a total internal rate of return in the region of 6% to 7.5% (net of fees and expenses) over the long term.

Aquila Capital will act as the company’s investment adviser.

Christine Brockwell, lead investment adviser on behalf of Aquila European Renewables Income Fund, said: “This is a unique proposition for investors to take advantage of the rapidly advancing renewable energy sector in Europe and to participate in opportunities presented by Europe’s energy transition to a low carbon society, which is reshaping the energy market across the continent.”

Ian Nolan, chair of Aquila European Renewables Income Fund, said: “We are offering investors an opportunity that is diversified by geography, technology and revenue source.

“We are excited to float our fund in London which has established itself as the home of investment trust listings in Europe including a number of renewable funds.”

An earlier version of this story incorrectly said Aquila Capital plans to raise £300m. Aquila Capital plans to raise €300m.

 

 

Related images

  • Solar panels

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Now