London, UK-based Guinness Asset Management has launched an infrastructure fund.
The amount to be raised was not disclosed.
The Guinness EIS Fund 3 will focus on investing in UK-based Sustainable Infrastructure companies, which have predictable revenues, low technology risk and low correlation with other asset classes.
The fund, which will invest through the tax-efficient EIS structure, has already identified opportunities in renewable energy projects (including hydroelectric and biomass projects) and energy efficiency companies focusing on reducing energy costs in office and commercial buildings.
The vehicle will be managed by Shane Gallwey, Tom Hill-Norton and Edward Guinness, who have raised and invested the Guinness Renewable Energy Funds 1 and 2.
They will be supported by an Investment Committee that complements the team with the experience of Tim Guinness, Andrew Martin Smith and Lord Flight, Chairman of the EIS Association.