Investment manager

Schroders to shell out £ 360million on majority stake in renewable investment manager

Wednesday, December 15, 2021 8:01 PM

Schroders is reportedly looking to invest £ 360million in a renewable energy investment group as part of the global transition to net zero.

The asset manager is looking to take a controlling stake in Greencoat Capital, a 75 percent stake, which would significantly bolster Schroders’ green offering, Sky News’s Mark Kleinman first reported.

The deal, which will also allow Schroders to purchase the rest of Greencoat, is expected to be announced in the coming days, sources said.

Greencoat, which manages around £ 6 billion and has recently established itself in the US market, will join Schroders’ £ 717 billion in management assets if the deal goes through.

The renewable energy fund has been considering a buyer for some time, after it went on sale earlier this year, hiring Fenchurch Advisory Partners to search for potential buyers.

Although the fund has reportedly caught the attention of a number of the city’s top fund managers.

City AM has contacted Greencoat for comment. Schroders declined to comment.

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