David Hardy to take up the reins at John Laing Infrastructure Fund
John Laing Environmental Assets (JLEN) has announced that David Hardy is transferring within John Laing Capital Management (JLCM) to take on the role as investment adviser to John Laing Infrastructure Fund (JLIF). David Hardy has been involved in leading the management of JLEN since its formation in 2014. David Hardy’s appointment to JLIF follows the departure of Andrew Charlesworth, which was announced by JLIF this morning. Chris Tanner, who has acted as joint lead advisor to JLEN since its launch, will continue to act as the lead adviser to JLEN and, while David is to assume his new role immediately, JLEN says that David will continue to be involved with JLEN until his replacement is in post.
John Laing Environmental Assets invests in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks. John Laing Environmental Assets’ portfolio consists of interests in UK based solar, onshore wind, waste processing and wastewater projects.
John Laing Infrastructures investment policy is to invest in equity and subordinated debt issued in respect of infrastructure PPP projects. The Fund invests predominantly in projects that have completed construction and that are in their operational phase. The Fund invests in projects whose revenue streams are: public sector or government backed; and predominantly lower-risk “availability based” i.e. cash-flows are determined by making the asset available rather than by how much it is used (“demand based”). Investment Capital in projects that are under construction will be limited to 15 per cent. of the Total Assets of the Fund (calculated at the time of investment).
David Hardy to take up the reins at John Laing Infrastructure Fund : JLEN, JLIF