Ogier has advised Resonance Asset Management on the launch of its third Guernsey fund, Resonance British Wind Energy Income II Limited (the Fund). The Fund, an authorised closed-ended investment fund, has also been designated a Guernsey Green Fund under the new Guernsey Green Fund Rules, 2018.
The Fund is focused on consolidating the fragmented United Kingdom and Republic of Ireland small and medium-sized wind farm industry, providing investors with an investment return through income, whilst mitigating environmental damage.
Partner Bryon Rees and senior associate Michelle Watson Bunn advised Resonance Asset Management on Guernsey law matters and worked with lead counsel, Simmons & Simmons.
Bryon said "It is a pleasure to see Resonance successfully launch the new Fund, returning to Guernsey once again and choosing to fulfill the criteria to be designated with Guernsey Green Fund status.
"The Guernsey Green Fund, being the world's first regulated green investment fund product, is seeing increased interest and is particularly relevant at a time when there needs to be a greater focus on the environment and when investors are expecting greater accountability."
Resonance Asset Management is an alternative asset management firm focused on originating, distributing and managing real asset investment funds for institutional investors. It has a focus on assets in growing and changing industries with compelling long-term investment themes, with areas of focus including alternative and conventional energy, water and waste treatment, environmental and agricultural assets.
The objective of the Guernsey Green Fund is to provide a platform upon which investments into various green initiatives can be made. The Guernsey Green Fund enhances investor access to the green investment space by providing a trusted and transparent product that contributes to the internationally agreed objectives of mitigating environmental damage and climate change.
TMF Group Fund Services has been appointed as the administrator to the fund and will provide ongoing oversight in respect of the Green Fund status. KPMG acted as the initial Green Fund certifier.
Ogier is the first offshore law firm to establish a dedicated Sustainable Investing and Impact Funds practice. Find out more here.