Scottish Equity Partners (SEP) has raised £135m for a new infrastructure fund to invest in UK-based clean energy projects.
The Environmental Capital Fund (ECF) has been backed by SSE, as well as a syndicate of financial investors led by Lexington Partners.
The fund has been anchored with the acquisition of an existing SSE infrastructure business (SSE Pipelines).
SEP will use the balance of the fund to invest in a diversified portfolio of new, UK-based, clean energy infrastructure projects – such as hydro power, energy efficiency, heat pumps and district heating schemes.
SEP has recruited a new team to manage the fund, headed by Partner Gary Le Sueur.
SEP managing partner Calum Paterson said: “The market opportunity for energy infrastructure finance is very attractive, and the new fund fits well with our existing activities.”