Launch of AIB Foresight Impact Fund
LEI: 213800NNT42FFIZB1T09
9 May 2022
Launch of AIB Foresight Impact Fund ("the Fund")
Foresight Group Holdings Limited ("Foresight", "the Group"), a leading infrastructure and private equity manager, is pleased to announce that it has been appointed by Allied Irish Banks ("AIB"), Ireland's largest financial services provider, to manage a new small and medium-sized enterprise ("SME") equity fund[1].
AIB will be a cornerstone investor in the Fund, which aims to stimulate job creation and deliver a greener future. The Fund will typically provide equity investments of €2 million to €5 million and will support Irish businesses to contribute to a more sustainable future.
AIB has signed an initial commitment of €30 million to the Fund1, which will target a total raise of €75 million over time. Foresight will shortly open an office in Dublin to support the delivery of the Fund and is actively seeking investment opportunities. This is Foresight's first expansion into the Republic of Ireland and the first fund outside of the UK for its Private Equity team. The Dublin office will be Foresight's thirteenth office across what will be seven countries, including the Republic of Ireland.
The Fund is positioned to benefit from Foresight's breadth of experience across both its Private Equity and Infrastructure divisions, leveraging each of their specialisms to deliver attractive, risk-adjusted returns to its investors.
Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, commented:
"As a sustainability-led alternative asset and private equity manager, Foresight has been supporting UK SMEs for many years, including in their transition to a low-carbon economy. We are delighted to now be partnering with AIB to expand this support to SMEs across Ireland.
"The AIB Foresight Impact Fund represents an exciting new partnership and geographic expansion for the Group and is further evidence of the tangible progress we are making towards delivering our strategic growth plans."
Enquiries:
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Foresight Group Investors |
Citigate Dewe Rogerson |
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Liz Scorer |
Caroline Merrell / Toby Moore |
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+44 (0) 7966 966956
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+44 (0) 7852 210329 / +44 (0) 7768 981763
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About Foresight Group Holdings Limited
Foresight Group was founded in 1984 and is a leading infrastructure and private equity investment manager, operating from 12 offices across six countries in Europe and Australia with AUM of £8.7 billion as of 31 March 2022. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets.
Foresight Group manages over 300 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages eight regionally focused investment funds across the UK, supporting over 120 SMEs. Foresight Capital Management manages four strategies across six investment vehicles with an AUM of over £1.6 billion. It has made over 270 clean energy investments to date.
Foresight Group listed on the Main Market of the London Stock Exchange in February 2021.
https://www.fsg-investors.com/
Disclaimer - Forward-looking statements
This statement, prepared by Foresight Group Holdings Limited (the "Company"), may contain forward-looking statements about the Company and its subsidiaries (the "Group"). Such forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "projects", "estimates", "plans", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other various or comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are beyond the Company's control and are based on the Company's beliefs and expectations about future events as of the date the statements are made. If the assumptions on which the Group bases its forward-looking statements change, actual results may differ from those expressed in such statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including those set out under "Principal Risks" in the Company's annual report for the financial year ended 31 March 2021. The annual report can be found on the Company's website ( www.fsg-investors.com ). Forward-looking statements speak only as of the date they are made. Except as required by applicable law and regulation, the Company undertakes no obligation to update these forward-looking statements. Nothing in this statement should be construed as a profit forecast.
[1]Pending customary regulatory approvals
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