Institutional fund manager IFM Investors-owned companies Buckeye Partners and Nala Renewables have together acquired a majority ownership in clean energy development investment platform Swift Current Energy.
The acquisition, an announcement by Buckeye and Nala said, would allow the firms to invest in a renewable energy platform that aligned with their priorities and further participate in energy transition.
Buckeye president and chief executive, Clark Smith, said: “This strategic partnership offers an exciting opportunity to further advance critical renewable energy generation and storage development projects across the United States while growing this platform”.
Nala incoming chief executive, Jasandra Nyker, said she saw North America as a dynamic and growing segment of the global renewable energy landscape.
Buckeye was a wholly owned investment of the IFM Global Infrastructure Fund based in Houston, Texas; Nala was a joint venture between Trafigura and IFM Investors based in Geneva, Switzerland; and Swift was headquartered in Boston, Massachusetts.
The $75 billion fund has gained exposure to decarbonisation solutions in its first listed equities impact investment.
The superannuation fund is expanding its investment exposure to industrial property through a $1 billion partnership with Barings, a global investment manager.
AustralianSuper has usurped the Future Fund as the biggest Australian asset owner, jumping from 43rd to 36th place globally, according to an annual study by the Thinking Ahead Institute.
IFM Investors, the global institutional asset manager owned by superannuation funds, has signed a memorandum of understanding with the UK government to invest £10 billion by 2027.
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