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The global asset manager and the renewable energy specialist will leverage their respective strengths and capabilities in real assets and renewables to access the €1-trillion European energy transition.
12 Oct 2021
Legal & General Investment Management (LGIM), one of the world’s leading asset managers, and NTR, a leading renewable energy specialist, have today confirmed their intentions to partner and jointly tackle the climate emergency.
The partnership will provide institutional investors in the UK, Europe and Asia access to the €1-trillion European energy transition in 2022 by combining LGIM’s 50-year experience in real assets and NTR’s 20-year expertise in renewables.
Sarah Aitken, Head of Distribution, Legal & General Investment Management (LGIM): "This is a wonderful opportunity for us to work with NTR to help investors address their climate-related concerns as the world moves towards net zero. Legal & General Group has been a cornerstone investor in NTR’s previous European clean energy funds and this partnership is a natural progression to an already successful collaboration.”
Rosheen McGuckian, Chief Executive Officer, NTR: “This is a very significant and exciting step for NTR. By joining forces with LGIM that has such a strong and trusted global reputation, we can accelerate our joint ambition to deploy the capital needed to address the European energy transition targets, which are a centrepiece of European policy to reduce carbon emissions in 2030 by 55%”.
LGIM has a strong expertise in responsible investing and takes its investment stewardship seriously. As well as assessing over 16,000 companies under its ESG scoring methodology, the firm has been recognised for being a top supporter of ‘climate-critical’ shareholder resolutions in 2020 compared to the world’s 12 largest asset managers[1]. In 2020, independent NGO ShareAction ranked LGIM #1 among asset managers for its approach to climate change[2]. The firm was also selected by the UN Principles for Responsible Investment in 2020 as part of its ‘leaders group’ on climate change[3].
With 50-years of experience in real assets, LGIM’s Real Assets division (LGIM Real Assets) actively invests in and manages assets across commercial, operational, and residential property sectors, as well as infrastructure, real estate, corporate and alternative debt. Taking a long-term view in order to future proof its investments, LGIM Real Assets continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level.
NTR has over 20 years of experience in investing in and managing clean energy assets, and applies this expertise on behalf of investors who wish to avail of the attractive, reliable cash flows that quality sustainable infrastructure assets can provide. NTR has constructed and operated close to 3GW of wind, solar and energy storage projects across Europe and the US. Since 2015, NTR has acquired and managed renewable energy investments on behalf of third-party institutional investors through its renewable energy funds.
[1] Majority Action, Climate in the Boardoom
[2] https://shareaction.org/research-resources/point-of-no-return
[3] https://www.unpri.org/the-pri-leaders-group/4771.article
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 11 December 2024, Legal & General has a market capitalisation of 13.7 billion.
LGIM is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.2 trillion1 ($1.5tn, €1.3tn, CHF 1.2tn). We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
For more than 50 years, we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property, and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
1Data as at 31 December 2023. Data combines assets under management by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. Assets under management include securities and derivatives positions.