Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

28462

Gresham House targets new solar energy assets with expansion of FIM Solar Distribution

RELATED TOPICS​

Two months after acquiring FIM Services Limited (FIM), an alternative fund manager specialising in UK-based sustainable forestry and renewable energy investments, Gresham House is expanding FIM Solar Distribution, with the opening subscription for its new “D” Partnership Shares subject to a minimum investment of GBP95,040. The closing date for this offer is 28 September 2018.

FIM Solar Distribution is an established trading partnership which already owns six UK solar parks with an enterprise value of GBP45 million. The capital raised as a result of the subscription will be combined with the Fund’s existing cash resources to acquire additional solar parks.
 
The fund’s objective is to provide a high level of income for members through semi-annual cash distributions from the ownership of a diversified portfolio of UK solar parks in a managed vehicle. It targets a 6 per cent pre-tax internal rate of return, net of all costs and fees and average annual distributions in the first 10 years of 7 per cent of equity invested.
 
Specifically structured as an unlisted Limited Liability Partnership (LLP), the Fund is a highly tax efficient structure as it provides investors with 100 per cent relief from Inheritance Tax (once Partnership Shares have been held for two years). Furthermore, capital allowances can be used to offset taxable income with projected distributions expected to be tax free for the next three to four years.
 
FIM is part of the Gresham House Group, a specialist alternative asset manager with GBP1.5 billion of assets under management. FIM’s renewable energy team sits within Gresham House’s New Energy division.
 
Ben Guest, Head of New Energy at Gresham House, says: “This Fund expansion will enable us to meet the growing demand we are seeing from investors interested in solar assets. Ground-mounted solar parks are now a proven mainstream asset class delivering attractive returns, with a combination of low operational risk and high levels of annuity style cash flows.”
 
Wayne Cranstone, Fund Director of FIM Solar Distribution, says: “The FIM Solar Distribution “D” Shares launch is the first investment offer since the acquisition by Gresham House of FIM, and highlights the significant progress that has been made integrating the two businesses.  The Fund expansion will help investors to maximise the return from their capital within a structure which is substantially more tax efficient than a listed vehicle.”
 

Latest News

According to the latest ESG data from PwC Luxembourg finds that investment flows towards EU..
Solactive and private equity data provider CEPRES have established a new partnership for to introduce..
New research published today by the CFA Institute Research and Policy Centre analyses the many..

Related Articles

Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Pension funds
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are coming together to instigate a new industry coalition...
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by