Sustainable Energy Fund II - 14 Jun 2007
Sigma Capital Group plc (AIM:SGM), the specialist asset management and advisory group, is pleased to announce:-
Sigma Sustainable Energy Fund II
Sigma is pleased to announce the first closing of the Sigma Sustainable Energy Fund II at £35 million with limited partner contributions from chosen strategic partners Scottish and Southern Energy plc ("SSE")(1) (£10 million), Bank of Scotland Corporate(2) (£12.5 million), West Coast Capital(3)(£10 million) and Sigma Technology Investments Limited (£2.5 million). Sigma Technology Management Limited will act as manager of the Fund.
In addition to its capital commitment to the Fund, SSE will support the Fund by committing resource and expertise, which extends the excellent working relationship developed with Sigma through their collaboration on Sigma's first energy fund the Sigma Sustainable Energies Fund.
The Fund is Sigma's fourth fund and second sustainable energy fund and has been established for investment in sustainable energy technologies throughout the UK and Europe. The Fund will remain open to further investors for a period of one year and Sigma is confident of attracting additional investors during that period.
David Sigsworth
Sigma is also pleased to advise of the appointment of David Sigsworth to the Board as a non-executive director. David's appointment will be effective following Sigma's AGM on 19 June 2007. David has also been appointed as Chairman of the Sigma Sustainable Energy Fund II. David spent over ten years as a main board director of FTSE 100 utility companies and most recently on the board of SSE. David is actively involved in the sustainable energy sector and holds several associated non-executive directorships.
Commenting on today's announcement, Graham Barnet, Chief Executive of Sigma said
"I am delighted that SSE, Bank of Scotland Corporate and West Coast Capital, who are all strongly committed to the sustainable energy sector, have backed Sigma in the launch of this fund. This is a significant move for Sigma in the growth of its asset management business and the expansion of its activities in the sustainable energy sector. We are looking forward to working with all our partners on this unique collaboration, bringing together industry, banking and commercial expertise. I am also very pleased to welcome David to the board of Sigma and look forward to his contribution and to benefiting from his wealth of experience both in business and in the sector."
Ian Marchant, Chief Executive of SSE, said
"I am pleased that our well-established relationship with Sigma has enabled us to create this new fund. I believe it will help to deliver more sustainable means of producing and using energy. With the participation of Bank of Scotland Corporate and West Coast Capital, it also demonstrates the breadth and depth of the interest which now exists in sustainable energy technologies."
Commenting upon the deal, Ed Wilson, Head of Energy & Environmental at Bank of Scotland Corporate said
"This is an excellent opportunity for Bank of Scotland to make an equity investment in a high-profile renewable sector fund which has the potential to become one of the leading renewable funds in the UK. We're delighted to be further enhancing our strong relationship with Sir Tom Hunter and to be working alongside Scottish & Southern Energy, one of the UK's leading players in the developing sustainable energy sector.
"Our investment in this fund further demonstrates Bank of Scotland's commitment to invest in the renewable energy markets, and to help promote Scotland's position as a leading light in the development of renewable energy industries."
Paul Davidson, partner in West Coast Capital noted;
"We see renewables as a growing component of our investment strategy moving forward. Scottish & Southern introduced us to the Sigma opportunity and we are delighted to be co-investing with them alongside Bank of Scotland Corporate and Sigma. The combined expertise of Sigma and SSE gave us the confidence to invest."
Notes
(1) Investment via subsidiary SSE Venture Capital Limited
(2) Investment via subsidiary Uberior Oil & Gas Limited
(3) Investment via subsidiary TBH Investments Limited
ENDS -
Contact Sigma Capital Group plc
Graham Barnet, Chief Executive Officer
+44 131 220 9444
Buchanan Communications
Diane Stewart/Isabel Podda
+44 207 466 5000
Scottish and Southern Energy plc
Sharron Miller-McKenzie, Press Office
0845 0760 530
West Coast Capital
Ewan Hunter
+44 7803 904769
Bank of Scotland Corporate
Harry Hussain
+44 131 243 7198
NOTES TO EDITORS
About Sigma Capital Group plc
Sigma Capital Group plc is an AIM-listed UK asset management group. Sigma's business divisions focus on Specialist Fund Management in particular in the sustainable energy sector, Commercialisation of University IP and Property.
www.sigmacapital.co.uk
Scottish and Southern Energy plc
Perth-based Scottish and Southern Energy is involved in the generation, transmission, distribution and supply of electricity and in the storage, distribution and supply of gas. It is one of the largest generators of electricity in the UK and is the leading generator from renewable sources and also supplies electricity and gas to around eight million customers throughout Great Britain. Its Chief Executive, Ian Marchant, chairs the UK Business Council for Sustainable Energy and the Climate Change Business Delivery Group.
Bank of Scotland Corporate
Bank of Scotland Corporate, part of HBOS plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. With experience across many areas of corporate finance, including specialist teams covering Joint Ventures, Integrated Finance, Structured Property Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Bank of Scotland provides funding to more Management Buy-Outs than any other bank in both the UK and Europe and is now recognised as the top UK arranger for PFI/PPP deals. Bank of Scotland Corporate employs around 9,000 employees. Total lending at December 2006 stood at #85.3 billion.
West Coast Capital
West Coast Capital is a private equity partnership established in February 2001 and owned and funded by retail entrepreneur Sir Tom Hunter and corporate advisers Jim McMahon and Paul Davidson. West Coast Capital is a partnership established in Scotland which invests mainly in the retail and property sectors, often co-investing with other major investors and institutions. West Coast Capital recently cornerstoned, alongside Baugur, a major not-for-profit carbon offsetting scheme in Rwanda and Malawi alongside former President Clinton. To find out more visit www.westcoastcapital.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
RNS Number:3798Y Sigma Capital Group Plc
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
First Closing of Sigma Sustainable Energy Fund II at £35 Million
and
Board Appointment
("Sigma" or the "Company")
First Closing of Sigma Sustainable Energy Fund II at £35 Million
and
Board Appointment
Sigma Capital Group plc (AIM:SGM), the specialist asset management and advisory group, is pleased to announce:-
- The first closing of a new private equity fund the Sigma Sustainable Energy Fund II (the "Fund"), at £35 million; and
- The appointment of David Sigsworth to the board as a non-executive director.
Sigma Sustainable Energy Fund II
Sigma is pleased to announce the first closing of the Sigma Sustainable Energy Fund II at £35 million with limited partner contributions from chosen strategic partners Scottish and Southern Energy plc ("SSE")(1) (£10 million), Bank of Scotland Corporate(2) (£12.5 million), West Coast Capital(3)(£10 million) and Sigma Technology Investments Limited (£2.5 million). Sigma Technology Management Limited will act as manager of the Fund.
In addition to its capital commitment to the Fund, SSE will support the Fund by committing resource and expertise, which extends the excellent working relationship developed with Sigma through their collaboration on Sigma's first energy fund the Sigma Sustainable Energies Fund.
The Fund is Sigma's fourth fund and second sustainable energy fund and has been established for investment in sustainable energy technologies throughout the UK and Europe. The Fund will remain open to further investors for a period of one year and Sigma is confident of attracting additional investors during that period.
David Sigsworth
Sigma is also pleased to advise of the appointment of David Sigsworth to the Board as a non-executive director. David's appointment will be effective following Sigma's AGM on 19 June 2007. David has also been appointed as Chairman of the Sigma Sustainable Energy Fund II. David spent over ten years as a main board director of FTSE 100 utility companies and most recently on the board of SSE. David is actively involved in the sustainable energy sector and holds several associated non-executive directorships.
Commenting on today's announcement, Graham Barnet, Chief Executive of Sigma said
"I am delighted that SSE, Bank of Scotland Corporate and West Coast Capital, who are all strongly committed to the sustainable energy sector, have backed Sigma in the launch of this fund. This is a significant move for Sigma in the growth of its asset management business and the expansion of its activities in the sustainable energy sector. We are looking forward to working with all our partners on this unique collaboration, bringing together industry, banking and commercial expertise. I am also very pleased to welcome David to the board of Sigma and look forward to his contribution and to benefiting from his wealth of experience both in business and in the sector."
Ian Marchant, Chief Executive of SSE, said
"I am pleased that our well-established relationship with Sigma has enabled us to create this new fund. I believe it will help to deliver more sustainable means of producing and using energy. With the participation of Bank of Scotland Corporate and West Coast Capital, it also demonstrates the breadth and depth of the interest which now exists in sustainable energy technologies."
Commenting upon the deal, Ed Wilson, Head of Energy & Environmental at Bank of Scotland Corporate said
"This is an excellent opportunity for Bank of Scotland to make an equity investment in a high-profile renewable sector fund which has the potential to become one of the leading renewable funds in the UK. We're delighted to be further enhancing our strong relationship with Sir Tom Hunter and to be working alongside Scottish & Southern Energy, one of the UK's leading players in the developing sustainable energy sector.
"Our investment in this fund further demonstrates Bank of Scotland's commitment to invest in the renewable energy markets, and to help promote Scotland's position as a leading light in the development of renewable energy industries."
Paul Davidson, partner in West Coast Capital noted;
"We see renewables as a growing component of our investment strategy moving forward. Scottish & Southern introduced us to the Sigma opportunity and we are delighted to be co-investing with them alongside Bank of Scotland Corporate and Sigma. The combined expertise of Sigma and SSE gave us the confidence to invest."
Notes
(1) Investment via subsidiary SSE Venture Capital Limited
(2) Investment via subsidiary Uberior Oil & Gas Limited
(3) Investment via subsidiary TBH Investments Limited
ENDS -
Contact Sigma Capital Group plc
Graham Barnet, Chief Executive Officer
+44 131 220 9444
Buchanan Communications
Diane Stewart/Isabel Podda
+44 207 466 5000
Scottish and Southern Energy plc
Sharron Miller-McKenzie, Press Office
0845 0760 530
West Coast Capital
Ewan Hunter
+44 7803 904769
Bank of Scotland Corporate
Harry Hussain
+44 131 243 7198
NOTES TO EDITORS
About Sigma Capital Group plc
Sigma Capital Group plc is an AIM-listed UK asset management group. Sigma's business divisions focus on Specialist Fund Management in particular in the sustainable energy sector, Commercialisation of University IP and Property.
www.sigmacapital.co.uk
Scottish and Southern Energy plc
Perth-based Scottish and Southern Energy is involved in the generation, transmission, distribution and supply of electricity and in the storage, distribution and supply of gas. It is one of the largest generators of electricity in the UK and is the leading generator from renewable sources and also supplies electricity and gas to around eight million customers throughout Great Britain. Its Chief Executive, Ian Marchant, chairs the UK Business Council for Sustainable Energy and the Climate Change Business Delivery Group.
Bank of Scotland Corporate
Bank of Scotland Corporate, part of HBOS plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. With experience across many areas of corporate finance, including specialist teams covering Joint Ventures, Integrated Finance, Structured Property Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Bank of Scotland provides funding to more Management Buy-Outs than any other bank in both the UK and Europe and is now recognised as the top UK arranger for PFI/PPP deals. Bank of Scotland Corporate employs around 9,000 employees. Total lending at December 2006 stood at #85.3 billion.
West Coast Capital
West Coast Capital is a private equity partnership established in February 2001 and owned and funded by retail entrepreneur Sir Tom Hunter and corporate advisers Jim McMahon and Paul Davidson. West Coast Capital is a partnership established in Scotland which invests mainly in the retail and property sectors, often co-investing with other major investors and institutions. West Coast Capital recently cornerstoned, alongside Baugur, a major not-for-profit carbon offsetting scheme in Rwanda and Malawi alongside former President Clinton. To find out more visit www.westcoastcapital.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange