Legal & General Investment Management鈥檚 real asset division has agreed to provide a 拢48m (鈧�54.7m) loan to support Fiera Infrastructure鈥檚 UK solar portfolio investment.
LGIM Real Assets said it is financing the Canadian infrastructure investment management firm鈥檚 investment into a fully operational solar photovoltaic technology portfolio consisting of more than 13,250 residential and commercial rooftop systems.
This transaction marks Fiera Infrastructure鈥檚 first sole investment in the UK and the first staple financing solution for LGIM Real Assets infrastructure platform. A staple financing is a pre-arranged financing deal offered for an acquisition.
Tom Sumpster, the head of infrastructure debt at LGIM Real Assets, said: 鈥淲e are delighted to have closed our first staple financing in the infrastructure sector and to have supported Fiera in their UK expansion. The investment from Fiera signals the strength of UK renewables as an investment proposition to international Infrastructure investors.
鈥淭his sector continues to be a significant focus for LGIM Real Assets and this transaction provides a stable investment grade income stream for our clients. We look forward to supporting Fiera on future opportunities.鈥�
