Foresight Group has announced that it has established 342 million euros ($379 million) for its energy infrastructure fund in its first close.
The Foresight Energy Infrastructure Fund will capitalize in low-carbon energy infrastructure such as renewable energy, battery and energy storage and transmission and distribution assets.
Foresight anticipates to use 275 million euros of the total raised to procure assets swiftly.
Obligations to the fund were made by institutional investors across Europe including the Swedish insurance company PRI Pensionsgaranti, the European Investment Bank, sustainable infrastructure fund Arcano Earth Fund, and Norwegian financial services group DNB's life insurance company.
The fund's strategy has been designed with a focus on "the global transition to decentralized, digitized and decarbonized networks," said Dan Wells, partner at Foresight.
Foresight has around 4.5 billion pounds ($5.9 billion) of assets under management, of which more than 3 billion are related to energy infrastructure.
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