REG - US Solar Fund PLC US Solar Fund - USFP - Strategic Transaction of Investment Manager

Us Solar FundAnnouncement

30/05/2024 14:00

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RNS Number : 4786Q  US Solar Fund PLC  30 May 2024

30 May 2024

 

US Solar Fund PLC

("USF", or the "Company")

                        Strategic Transaction of
Investment Manager with Boyd Watterson

 

Strategic Transaction of Investment Manager with Boyd Watterson Strategic
combination creates a leading global alternatives investment platform with
assets under management of approximately $35 billion

The Board of Directors is pleased to note that Amber Infrastructure Group
(Amber), the parent of the Company's Investment  Manager, Amber
Infrastructure Investment Advisor, LLC will combine with Boyd Watterson Asset
Management (Boyd Watterson), a leading real estate and fixed income investment
manager in the United States, through a strategic transaction. The transaction
remains subject to Financial Conduct Authority and other regulatory approvals.

Through its funds, Boyd Watterson is a highly credible and well-established
real estate investor with a long-standing and strong track record in the
United States. Amber, an international infrastructure specialist, has been
active in the US since 2015 and has a presence in New York, Colorado,
Maryland, Michigan and Texas. Both Boyd Watterson and Amber have a keen focus
on delivering outstanding client service across the real asset sectors. The
combined platform will create opportunities for Amber to build upon its
growing presence in the US and globally.

Hunt Companies, Inc, (Hunt) which is a common investor in Amber and Boyd
Watterson will continue to be an investor in the combined entity and no
shareholders will exit as a result of the merger. Amber Infrastructure
Investment Advisor, LLC will continue to act as the Company's Investment
Manager and there will be no changes to the management of USF. In addition,
Amber will continue to hold its 5 million shares in the Company.

Commenting on the announcement, Amber's Head of North America Tom
O'Shaughnessy said: "The platform consolidates Amber's existing US
infrastructure capabilities, including a team of 26 specialists working on
behalf of Amber's existing funds and managed accounts. We are excited to
combine with Boyd Watterson to form a significant diversified investment
platform".

 

For further information, please contact:

 

 US Solar Fund                       +44 20 7939 0550

 Meredith Frost (Amber)
 Cavendish Capital Markets Limited   +44 20 7397 8900

 Tunga Chigovanyika

 James King

 Will Talkington

 KL Communications                   +44 20 3382 6644

 Charles Gorman

 Charlotte Francis

 Patrick Lodge

 

About US Solar Fund plc

US Solar Fund plc, established in 2019, listed on the premium segment of
the London Stock Exchange in April 2019. The Company's investment objective
is to provide investors with attractive and sustainable dividends with an
element of capital growth by owning and operating solar power assets in North
America and other OECD countries in the Americas.

The solar power assets that the Company acquires or constructs are expected to
have an asset life of at least 30 years and generate stable and uncorrelated
cashflows by selling electricity to creditworthy offtakers under long-term
power purchase agreements (or PPAs). The Company's portfolio currently
consists of 41 operational solar projects with a total capacity of 443MWDC,
all located in the United States.

Further information on the Company can be found on its website
at http://www.ussolarfund.co.uk (http://www.ussolarfund.co.uk/) .

 

About Boyd Watterson

Founded in 1928 by its predecessor firm, Boyd Watterson Asset Management, LLC
(Boyd) is a leading real estate and fixed income investment manager.
Headquartered in Cleveland, Ohio, Boyd employs 130 employees in seven offices
across the US. Boyd manages c.US$18.2bn of AUM, through separately managed
accounts and a number of funds with real estate and fixed income strategies.
www.boydwatterson.com (http://www.boydwatterson.com/)

 

About Amber Infrastructure Group

 

Amber is a specialist international investment manager, focused on investment
origination, asset management and fund management. Amber currently manages or
advises 9 funds (2 listed and 7 private) with over £5 billion (c.$6 billion)
in funds under management.  With a presence across 12 countries, Amber
manages 175 infrastructure investments representing total assets under
management of £14 billion (c.$17.5 billion).  Amber's core business focuses
on managing infrastructure assets across the public, transport, energy,
digital and demographic infrastructure sectors internationally. Amber is
headquartered in London with offices in Europe, North America, Australia and
New Zealand. Amber employs over 180 professionals globally.
www.amberinfrastructure.com (http://www.amberinfrastructure.com)

 

About Hunt Companies

Hunt Companies is a family-owned principal investment firm founded in 1947
based in El Paso, TX with interests in the real estate, infrastructure and
financial services sectors. As an owner operator with a strong investment
platform and financial structuring expertise, Hunt develops lasting
relationships to create value for its investors, clients, employees and
communities. The company and its affiliates are committed to promoting
community growth and a sustainable future through our business practices,
purpose driven investment and charitable giving. www.huntcompanies.com
(http://www.huntcompanies.com)

 

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