FCP Launches Elara III Renewable Energy EIS

Mar 6 2012 | 10:55am ET

Future Capital Partners, the £6 billion, UK-based alternative investment boutique, has launched its third renewable energy enterprise investment scheme, the Elara III fund.

The new EIS fund, which follows the £2 million Elara I and the recently closed £4 million Elara II, targets an annual rate of return of 29.28%, pre-tax, and will adopt a conservative investment strategy focused on lower risk opportunities in the renewable energy sector. FCP aims to raise at least £6 million for the fund, which it expects to close at the end of March.

Like Elara I and II, Elara III will invest in companies providing services to Blue Energy, a leading UK renewable energy development and investment company. Elara III will source a range of lower-risk renewable energy opportunities including construction of wind installations, anaerobic digestion plants and wholesaling of renewable energy supplies such as solar panels.

FCP says investors in the new fund should qualify for a 30% income tax relief on investments up to £500,000 in the current tax year, can defer capital gains tax liabilities by investing in the fund and will qualify for 100% relief from inheritance tax after two years. The company says any capital gains realized on disposal of investments held by the fund after three years should be exempt from capital gains tax.

FCP specializes in renewable energy investment. In addition to the Elara funds, the firm also manages Future Fuels, an investment partnership aimed at high net worth investors that is funding and building an industrial-scale bioethanol plant in the North of England.

Elara III, with a minimum investment of £5,000, is targeting high-net-worth UK investors and the vehicle will offer investors a number of tax relief advantages within the investment.

Piers Denne, head of sales & marketing at Future Capital Partners, said in a statement:

“The success we have had with our previous Elara funds, and the appetite among investors for the diversified renewable energy strategy they adopt, is validation of our approach to the green investment sector. Launching Elara III will give investors another chance to benefit from the funds innovative strategy, and we have responded to investor appetite by increasing the capacity we can invest in underlying deals.

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