Renewables trend continues with successful IPO
Investment in renewables continues to show strong momentum.
Octopus Renewables Infrastructure Trust plc (ORIT) a new investment trust focused on renewable energy was admitted to the London Stock Exchange in December.
The IPO was a tremendous success and raised 350 million with the fund planning to invest in renewable energy assets in the UK Europe and Australia including onshore wind and solar energy farms.
PraxisIFM Fund Services (UK) Limited has assisted with the launch of two renewables funds in 2019 including the provision of administration and corporate governance services to ORIT and Aquila European Renewables Income Fund plc in June.
'Due to a number of factors including political uncertainty there were fewer IPOs in 2019 than the previous year' said Brian Smith Managing Director of PraxisIFM Fund Services (UK) Limited.
According to the Association of Investment Companies new issuance more than halved compared to 2018.
'Against this backdrop however fundraising in the secondary market by existing investment trusts has been very active across all asset classes.' said Mr Smith.
Chris Gaydon head of investments at Octopus Renewables said: 'We are very pleased with the pro-active support provided by the PraxisIFM team during the successful launch of ORIT.'
Brian said: 'We are delighted that ORIT has been added to our growing portfolio of listed fund clients.'