Guernsey-domiciled Gresham House fund has raised £450m to support sustainable infrastructure solutions, as the specialist alternative asset manager closed its Guernsey-domiciled sustainable infrastructure fund, The British Sustainable Infrastructure Fund (BSIF) II.
The fund is backed by twelve investors - eight Local Government Pension Schemes and four family offices - and has raised just under £450m.
The capital has been allocated to accelerate the deployment of innovative, real asset-based solutions to some of the biggest environmental and social challenges facing the UK.
Portfolio companies supported by the fund include alt-net providers connecting rural communities to gigabit broadband, vertical farms championing innovative agriculture techniques and habitat banks supporting developers to deliver biodiversity net gain, alongside local projects.
Gresham House said Guernsey's 'pioneering work' in the sustainable finance sector made it the jurisdiction of choice.
Managing director of Sustainable Infrastructure Peter Bachmann said: "Guernsey's work in the sustainable finance sector is pioneering and we are pleased to work in a jurisdiction that adheres to similar values as us."
He added, alongside co-fund manager Simon Adcock: "We are very pleased to have welcomed eight new Limited Partners to BSIF II, and believe our focus on impact driving returns will perform well financially whilst capturing the attention of forward-thinking real asset investors. BSIF II is the next step for our platform, which we look forward to continuing to scale with future funds."
Carey Olsen's Guernsey corporate team advised on the structuring, establishment and regulation of BSIF II as a registered collective investment scheme in Guernsey. Ocorion provided administration and accounting services to the fund from its Guernsey office.
