Postens Pensionsstiftelse, the investment manager of the Swedish national post service, has invested in Foresight Group’s unlisted energy infrastructure fund.
The investor took part in an €89m round of fundraising for Foresight Energy Infrastructure Partners alongside an unnamed US-based institutional investor, according to Foresight Group.
The latest “interim close” for the fund takes total capital raised to about €430m alongside €170m in co-investment capital.
Foresight Group, which is considering listing itself on the London Stock Exchange, raised €342m for the fund in a first close in January last year.
In April 2020, it was announced that the fund had acquired the Skaftåsen wind project in Swedenoresight with nine co-investors, including BAE Systems Pension Funds Investment Management, Norway’s Kommunal Landspensjonskasse Gjensidig Forsikringsselskap, and Polhem Infra.
The fund has decarbonisation objectives in line with the Paris Climate Agreement and, specifically, three of the UN’s sustainable development goals (SDGs): affordable and clean energy (SDG 7); industry, innovation and infrastructure (SDG 9); and climate action (SDG 13).
Each asset acquired by the fund is independently assessed for compliance with the EU green taxonomy, which Foresight said, together with SDG reporting, provides investors with greater transparency on the sustainability credentials of the portfolio.
Foresight reports to investors using metrics such as greenhouse-gas reduction and greenhouse-gas intensity of invested capital, renewable-energy generation and diversion of waste from landfill.
Rufus Parkes, institutional capital manager at Foresight, said: “As investor appetite for sustainability-led strategies continues to grow, our focus remains on the continuing rapid deployment of the fund into a portfolio of high-quality assets.”
