Lazard Asset Management’s (LAM) new sustainable private infrastructure investment strategy has acquired a majority stake in an anaerobic digestion plant in the UK.
Lazard Sustainable Private Infrastructure has acquired the stake in DBE Energy alongside DBE’s management team who will continue operating the anaerobic digestion (AD) plant in Surrey.
The DBE Energy plant contributes to both the decarbonisation and circular economy ambitions of the UK by producing green, renewable gas from organic waste and supplying it to the National Grid for commercial and domestic use as a carbon-neutral alternative to fossil gas.
The deal marks LAM’s entry into privately-owned infrastructure. LAM, which manages $221bn (€212bn) of client assets, already has $14bn of investments in listed infrastructure.
Robert Wall, the head of sustainable private infrastructure at LAM, said: “The Lazard Global Sustainable Private Infrastructure strategy focuses on making investments in infrastructure companies that we believe are well-positioned to achieve strong investment performance while delivering positive and measurable improvements in ESG and sustainability outcomes.
”The AD market in the UK, despite being one of the most advanced in Europe, is fragmented and thus creates significant potential for consolidation and growth. We are delighted to have completed this investment in DBE Energy, and together with its management team are looking forward to growing this partnership further.”
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