Schroders plc (« Schroders« ) is today announcing that it has reached agreement to acquire a 75% shareholding in Greencoat Capital Holdings Limited (“Greencoat”) for an initial consideration of £358 million.
· Greencoat is one of Europe’s largest renewable infrastructure managers, with £6.7 billion of AUM at 30 November 2021
· Greencoat pioneered large-scale renewable energy infrastructure investing in listed and private formats, delivering compound AUM growth of over 48% per annum over the last four years to 31 March 2021
· Over the past 12 months Greencoat achieved net new commitments for private funds and equity raises for listed funds of £1.6 billion (1 December 2020 to 30 November 2021)
· Schroders and Greencoat have an ambition to be a global leader in this fast-growing and important investment sector. Greencoat operates at the intersection of two significant growth opportunities:
o The global transition to net zero – the US and European markets for renewable energy assets are forecast to grow by more than $1 trillion to 2030
o Significant and accelerating institutional client demand for environmentally positive products in order to meet their own sustainability commitments
· As part of Schroders, Greencoat’s growth and its offering to clients will be significantly enhanced, benefitting from Schroders’ distribution reach, sustainability capabilities, management experience and brand. Greencoat will become part of Schroders Capital, Schroders’ private markets division and be known as Schroders Greencoat.