June 5 (Renewables Now) - London-based investment manager Foresight Group CI Ltd has agreed to acquire John Laing Environmental Assets Group Ltd (LON:JLEN), an environmental infrastructure investment fund with assets, including renewables, in the UK and France.
More specifically, John Laing Capital Management (JLCM) will dispose of its investment advisory business related to John Laing Environmental, the latter said on Wednesday. The change will become effective from July 1, 2019, following the completion of a Transfer of Undertakings/Protection of Employment (TUPE) process.
JLCM team which has been providing investment advisory services to JLEN since the latter's listing in 2014, will go to Foresight now.
John Laing Environmental owns 28 operational assets totalling 279.2 MW in the UK and France. Its portfolio includes onshore wind, solar, anaerobic digestion (AD) and waste and wastewater processing plants, according to its website.
The transaction is expected to boost Foresight’s assets under management across the UK to GBP 4 billion (USD 5.1bn/EUR 4.5bn). The value of its energy infrastructure assets under management, meanwhile, will exceed GBP 3 billion. Foresight will have under management almost 2 GW og renewables.
Following the acquisition, a name change will be proposed in due course so that John Laing Environmental’s name does not contain “John Laing”.
(GBP 1.0 = USD 1.274/EUR 1.127)