Investment management team succession

Greencoat UK Wind PLC

07 December 2023

 

7 December 2023

This announcement contains inside information.

Greencoat UK Wind PLC

Investment management team succession

Greencoat UK Wind PLC (the "Company" or "UKW"), the leading listed renewable infrastructure fund, invested in UK wind farms, announces that Laurence Fumagalli has informed the UKW board of his intention to step down from his role as co-head of the Schroders Greencoat LLP ("Schroders Greencoat") investment management team managing UKW on 1^st March 2024. Laurence will remain part of the senior management team of Schroders Greencoat.

The board is pleased to announce that Matt Ridley, Partner, Schroders Greencoat, will succeed Laurence to co-head the investment management team to manage UKW alongside Stephen Lilley from 1^st March 2024.

Matt is currently Head of Private Markets at Schroders Greencoat. In this role, he has delivered private markets capital for co-investment alongside UKW and has contributed to strategy, valuation, investment and other UKW board matters during his tenure at Schroders Greencoat. He has 16 years' renewable energy investment management experience, spanning the development, construction and operational phases across a range of technologies, and prior to joining Schroders Greencoat in 2021 he was Head of Equity Infrastructure at Temporis Capital. Earlier in his career Matt qualified and practiced as a tax lawyer and he holds a BSc in Mathematics from the University of Exeter.

Lucinda Riches, Chairman of Greencoat UK Wind, said: "On behalf of the board, I want to thank Laurence for his contribution to Greencoat UK Wind. Laurence, alongside Stephen, launched UKW in 2013 as the first listed renewable infrastructure fund. Since listing, Greencoat UK Wind has established a strong track record of delivering significant shareholder value, with a TSR of over 150%, whilst enabling the continued build out of renewable energy across the UK.

"As a board we have worked closely with Matt over the last 2 years and are delighted that he is joining as co-head of the investment management team alongside Stephen. Matt brings a broad range of experience and technical capabilities to this role, and we look forward to working with him even more closely."

For further information, please contact:

Greencoat UK Wind PLC               020 7832 9425

Stephen Lilley

Laurence Fumagalli

Headland Consultancy                     020 3805 4822

Stephen Malthouse

Rob Walker

Charlie Twigg

[e-mail]

Notes to Editors:

Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in 48 operating UK wind farms with net generating capacity of 1,973MW. The Company's aim is to provide investors with an annual dividend hat increases in line with RPI inflation (10p for 2023) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow.

UKW provides investors with the opportunity to participate directly in the ownership of UK wind farms, so increasing the resources and capital dedicated to the deployment of renewable energy and the reduction of greenhouse gas emissions.

UKW is managed by an experienced team at Schroders Greencoat LLP, a leading European renewable investment manager with over £10 billion of assets under management. UKW is governed by a strong and experienced independent board.

UKW is incorporated in England and Wales and is a UK Investment Trust.

For more information about UKW, please visit http://www.greencoat-ukwind.com

For more information about Schroders Greencoat LLP, please visit http://www.schrodersgreencoat.com

 

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