IPE Real Assets: SDCL Energy Proposes Further £100m Fundraise to Fund Opportunities

General/ 04 February 2021

SDCL Energy Efficiency Income Trust is seeking to raise £100m (€113m) by way of a share placing to fund investments.

The London-listed investment firm, which raised £105m in October last year, is proposing to raise the additional capital by issuing new shares at 106p each to invest further capital in the “identified pipeline opportunities, diversifying its existing portfolio and securing value from new and organic follow-on investments”.

Tony Roper, chairman of SDCL Energy Efficiency Income Trust, said the company has made progress since its initial public offering in December 2018.

By employing a disciplined acquisition strategy and rigorous asset management, the company has grown its portfolio to approximately £600m and delivered total shareholder returns of 17%, said Roper.

He said the issuance programme has allowed SDCL to carefully align its investment pipeline with its ongoing equity requirements and the firm has rapidly deployed the £105m raised in its oversubscribed placing in October into three new acquisitions.

”The importance of energy efficiency in ensuring that climate targets can be met is becoming ever clearer and as this market develops and matures, we are excited by the pipeline of investment opportunities which the investment manager has assembled which not only meet our strict investment criteria but will also enhance and further diversify our portfolio,” Roper said.

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