Foresight takes on advisory for £764 million of new assets

Foresight is to acquire the advisory mandate for 28 operational assets across a wide range of renewable generation, wastewater and waste management activities located in the UK and Europe from John Laing Capital Management. The JLEN assets have a gross asset value of £764 million and was listed on the London Stock Exchange in 2014.   for JLEN from . 

The transaction, which will complete at the end of June, will bring Foresight’s assets under management to £4 billion and increase the group’s total assets under management by 26%.

The co-heads of JLEN, Chris Holmes and Chris Tanner, will become partners of Foresight Group LLP on completion and their 12 strong investment, portfolio and finance team, which will continue to manage the Fund, will  relocate to Foresight’s London base in the Shard from the beginning of July 2019.

Richard Morse, chairman of JLEN, said:  “We look forward to working with Foresight as our investment advisory team is transferred from John Laing and as we continue to seek to enhance and grow our portfolio of environmental assets in the interests of shareholders. We wish to express our thanks to John Laing for its key role in establishing JLEN and for facilitating this change of investment adviser.”