John Laing is looking to raise at least £160 million for an investment trust that will focus on environmental infrastructure projects.
The firm is targeting an initial dividend yield of 6%, which will rise with inflation, and a net internal rate of return of 7.5-8.5%.
The trust will invest across the environmental infrastructure spectrum in the UK, including solar, wind, and waste-processing facilities. The initial assets in the portfolio will all be already operational.
The management team will be led by David Hardy and Chris Tanner from John Laing Capital Management, who together have more than 30 years’ experience in infrastructure and renewable projects.
‘An increasing focus on sustainability and making use of natural and waste resources, coupled with strong legislative support to encourage private investments in environmental infrastructure projects, form a favourable backdrop to the launch of this diversified and well-balanced fund,’ commented Tanner.