Friday, 27 November 2015
Last updated 1 day ago
Aug 30 2012 | 3:44am ET
An Irish renewable-energy hedge fund has taken a quarter of its capital to buy solar-power farms in sunnier climes.
Clear Financial's Solar21 Renewable Energy Ireland fund paid €25 million for the southern Italian farms, buying them from AEG Power Solutions. The new acquisitions join a portfolio of other solar farms, primarily in Germany and Italy.
Solar21 and AEG have been working on the deal since April. The hedge fund is also in advanced talks about buying another 12 megawatts valued at more than €45 million.
"When you contrast this stable investment environment with the current equity market volatility which has proven to be all risk and little return over the past 10 years, it's not difficult to see why so many people are drawn to the renewable energy concept," Solar21 CO Michael Bradley said.
Solar21 has €100 million in assets and targets 8.5% annual returns.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…