Green focus for Praxis

Thursday 07 January 2021

PraxisIFM has expanded its green credentials by providing administration and corporate secretarial services to a new renewable infrastructure fund.

Ecofin U.S. Renewables Infrastructure Trust (RNEW) was recently listed on the London Stock Exchange, and is one of three sustainability-focused funds on the LSE that Praxis works with.

In its Initial Public Offering, the fund raised $125 million, which it intends to invest in a diverse portfolio of renewable assets in the United States, with a principal focus on solar and wind power.

"I am delighted that the fund has now launched," said PraxisIFM Fund Services Managing Director Brian Smith.

"RNEW is a very exciting fund to work with, and its renewable focus is a great opportunity to expand our portfolio of socially-minded, ESG-alternative clients.

"Working with international managers is always an interesting opportunity and experience for the team, and being part of two successful IPOs in 2020 against the backdrop of the global pandemic is a great achievement."

Brad Adams, Managing Director of TortoiseEcofin, said that the company are "looking forward to continuing [their] great relationship with Brian and his team."

Pictured top: Brian Smith, Managing Director for Praxis IFM Fund Services.