Global financial services group, PraxisIFM, sees continued growth attracting a new renewable energy fund client.
Aquila European Renewables Income Fund plc (the ‘Fund’) is a UK-domiciled investment trust investing in renewable energy infrastructure investments across continental Europe and Ireland. The Fund raised EUR154.3 million in its initial public offering (IPO) and started trading on the main market of the London Stock Exchange on 5 June 2019.
PraxisIFM in London is providing fund administration and governance services to the Fund, while the Fund’s Alternative Investment Fund Manager (AIFM) requirements are being provided by PraxisIFM’s Guernsey AIFM: International Fund Management Limited (IFM).
Head of Corporate Development at Aquila Capital, Lars Meisinger, commented: ‘We are delighted with the professional and diligent support provided by the PraxisIFM team during the launch of Aquila European Renewables Income Fund and look forward to a successful working partnership going forward.’
Director of IFM, Shaun Robert, said: ‘PraxisIFM’s position as a non-EU AIFM provides clients with a robust structuring solution for both UK investment managers marketing into Europe and also European investment managers marketing into the UK.’
PraxisIFM London Director, Brian Smith, commented: ‘We congratulate the Fund on its IPO and listing on the London Stock Exchange. We are pleased to have been able to demonstrate our extensive experience in investment trust administration services during the launch phase and to have added the Fund to our expanding portfolio of listed fund clients.’