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20 April 2017

Macquarie-led consortium finally lands UK Green Investment Bank

Lisa Wright

Some deals are worth waiting for. Today's announcement brings an end to 22 months of speculation after a Macquarie-led consortium, which includes additional investments from Universities Superannuation Scheme, the UK's private pension scheme for universities and other higher education institutions, agreed a deal for UK Green Investment Bank with the UK government.

During this time, a number of different parties ranging from private equity firms like Partners Group to multi-nationals such as General Electric and sovereign wealth funds have all been linked as possible acquirors for the business. At one point in January this year there was talk the UK government might change direction completely and pursue an IPO of the business to potentially achieve a greater return for taxpayers, and media speculation grew about Macquarie's true motives behind the deal.

However, today has seen Macquarie agree to pay GBP 2.3bn for the UK-based green infrastructure investment company, which was set up in 2012 to attract private sector funds for use in the investments related to environmental preservation. The company has backed 99 green infrastructure projects since its inception which, according to its website, have totalled GBP 3.4bn of investments into the "UK's green economy".

Macquarie are world-renowned for their management of, and investment in, infrastructure projects and assets so this acquisition will, according to CEO, David Fass "open further opportunities in low carbon investment both in the UK and further afield".
LIsa Wright

Lisa Wright, Managing Director, M&A products

A regular blogger on this site, Lisa shares her analysis and opinion on news and trends in M&A, private equity, venture capital and IPOs.

A regular blogger on this site, Lisa shares her analysis and opinion on news and trends in M&A, private equity, venture capital and IPOs.

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