Downing, a London-based investment manager, has held a £125 million ($158 million) final close for its first dedicated institutional fund for infrastructure projects focusing on the flexible generation sector in the United Kingdom.
The increase in deployment of renewable energy has created a new class of flexible generation assets of which gas peakers play a significant role and is where the fund will focus its investment activities.
Downing’s energy team has made more than 100 energy investments to date across a range of sectors including: solar, reserve power, battery storage, wind and biomass.
Downing currently has more than £1 billion ($1.2 billion) of funds under management.