The Jersey investment funds team at Carey Olsen has advised renewable energy investment business NTR on the final close of its new investment fund, with a hard cap investment of €250 million.
The private placement fund, NTR Wind 1 Fund LP, invests in onshore wind projects in Ireland and the UK and is one of a growing number of funds investing in the renewable energy market across the UK and EU.
Jersey proved an attractive location to establish the fund due to the island's flexible approach to the regulation of private placement funds and compliance with the AIFM Directive (enabling the fund to be marketed in the UK and Ireland using national private placement regimes).
Alongside investments from NTR and Legal & General Capital, €50 million was secured from the Strathclyde Pension Fund and €35 million from the Ireland Strategic Investment Fund, which aims to support economic activity and employment in Ireland.
Carey Olsen Partner Robert Milner and Senior Associate Lauren Fletcher advised NTR on the Jersey aspects of the launch, alongside Arthur Cox (Dublin), Canaccord Genuity (London) and KPMG (Dublin).