Third green energy fund from Future Capital Partners
Future Capital Partners, the £6bn alternative investment boutique, has launched a third fund, Elara III, to add to the firm’s existing two green energy Elara investment strategies.
Elara III targets annual rate of return of 29.28%on a pre-tax basis and will be adopting a conservative investment strategy focused on lower risk opportunities in the renewable energy sector. It will aim to raise at least £6m, and is expected to close at the end of March. It follows the recent close of Elara II, which raised £4m. The firm raised £2m for Elara I.
Like its predecessors, the new Enterprise Investment Scheme(EIS)-qualified fund will invest in companies providing services to Blue Energy, a UK renewable energy development and investment company.
Elara III will adopt a similar strategy of sourcing a diverse range of lower risk renewable energy opportunities, focusing on construction of wind installations, anaerobic digestion plants and wholesaling of renewable energy supplies such as solar panels.