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PE firm Hg's renewables team spins out

Wind farm in UK. Author: Mycatkins. License: Creative Commons. Attribution 2.0 Generic

December 7 (Renewables Now) - London-based private equity firm Hg has concluded the process to spin out its renewable energy infrastructure investment business, thus forming Asper Investment Management.

Asper said on Monday it has taken over the management of the two renewable energy infrastructure funds Hg raised back in 2006 and 2011. These funds represent more than EUR 800 million (USD 943m) in combined commitments.

The team will look to realise further value in the existing funds, while pursuing new opportunities to invest in European sustainable infrastructure, it said.

The entire Hg renewable energy team has joined Asper, including six senior investment directors and just as many specialist finance, control and operations managers. Asper pointed out that the funds have had a strong year with successful exits in Ireland, Sweden and the UK.

(EUR 1.0 = USD 1.179)

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