Octopus Energy Group has launched a pioneering new clean energy fund named Astris.
The aim of the fund is to give pension schemes and private wealth investors a simple way to back renewable energy projects across 15 countries.
Backed by £165 million and awarded the FCA’s new ‘Sustainable Focus’ label, the fund offers monthly access and a flexible route into the global energy transition.
Astris was launched through Octopus Energy Group’s fund management arm, Octopus Energy Generation.
It provides access to more than 50 renewable energy projects in 15 countries, including wind, solar and large-scale battery projects.
Astris launched with a £165m cornerstone investment and is now open to private wealth investors and pension schemes through major investment platforms.
Unlike most traditional private market funds, Astris gives investors monthly access to the fund alongside some of the world’s largest institutional investors.
Octopus said that with Astris, investors can more easily back the technologies driving net zero without compromising on financial returns.
Awarded the FCA’s new ‘Sustainable Focus’ label, the fund meets the highest standards for green investing.
Octopus already manages £7 billion of green energy projects, powers over 2.4 million homes a year and plans to unleash £20 billion by 2030.
Co-head of Octopus Energy Generation Matt Setchell said: “For too long, pension schemes and private wealth have had limited investment opportunities in private markets due to a lack of innovative solutions. The launch of this fund changes that.
“It’s been built from the ground up to remove the structural barriers for investors wishing to participate in the $275 trillion generational investment opportunity to fund the energy transition and invest alongside professional investors and institutional funds from around the world.
“Day one investors will own a globally diverse portfolio of renewable projects and companies – delivering genuine impact with no compromise on financial returns.
At Octopus, we’re always looking for new ways to give investors the chance to actively invest in the shift to clean, green energy and we couldn’t be prouder to be at the leading the charge with transformational funds like Astris.”
Carne Group is responsible for overseeing the fund’s governance.
Managing director Jeremy Soutter said: “Carne is delighted to be acting as independent authorised corporate director on Octopus Energy’s new Sustainable Growth Fund.
“At a time of heightened attention on the UK’s role within the global green transition and investment in the productive assets at the forefront of this change, the fund is an important enabler of private wealth and pension fund exposure both to private infrastructure as an asset class and to the energy transition as an investment opportunity.
“As the partner of choice for bringing innovative private markets products to market, we believe our partnership with Octopus exemplifies the benefits of collaboration in facilitating this innovation and delivering best-in-class fund management processes for end investors.”