The L&G NTR Partnership
Investing in Europe’s energy transition
About the Partnership
Strategic Partnership
L&G and NTR have maintained a strategic partnership since 2015, when L&G recognised NTR's innovative leadership in renewable energy and became a cornerstone investor in NTR's first two funds.
Market Expansion
In 2022, the partnership strategically expanded to jointly promote the third fund to continue to address the critical demand for clean energy and enhanced energy security cross Europe. This collaboration channels institutional capital towards Europe's part of the €1 trillion global market opportunity1 in the energy transition.
Complementary Expertise
The partnership leverages L&G's heritage in private markets and its position as one of Europe’s largest asset managers2 complemented by NTR’s specialised expertise and proven track record as a dedicated clean power asset manager.
Value Proposition
The partnership successfully navigates the complex financial, regulatory, and operational landscape of energy transition projects, aiming to deliver distinctive investment opportunities with attractive risk-adjusted returns for institutional investors.
Investing in clean power
The L&G NTR Clean Power (Europe) Fund
Recent announcement
L&G and NTR have announced3 secured total commitments of €607m4 at the final close of the L&G NTR Clean Power (Europe) Fund, supporting Europe’s ambitious decarbonisation and energy security agenda.
Meet the team
David Emes
Head of Infrastructure Capital Raising
Samuel McKenzie
Fund Manager, Infrastructure Equity
Get in touch
Get in touch
If you would like any further information please complete the contact us form.
Sources:
1. ECB as of 2024.
2. L&G's Asset Management business is a major global investor across public and private markets, with £1,118 billion in AUM. L&G's Asset Management business internal data as at 31 December 2024. The AUM disclosed aggregates the assets managed by L&G's asset management divisions in the UK, US and Hong Kong (2018-2019 only), and Singapore from July 2023. Excludes joint ventures and assets managed by associates.
3. Announcement published on the 8th April 2025.
4. €607m has been raised from investors, which includes €584m of commitments to the Fund and €23m in deployed and allocated co-investment capital alongside the Fund.
5. Includes amounts committed to investments but not yet called.
6. NTR internal data as at March 2025.
*It should be noted that diversification is no guarantee against a loss in a declining market.
Issuer
L&G NTR Clean Power (Europe) SCSp RAIF (the "Partnership"), is a reserved alternative investment fund (fonds d’investissement alternatif réservé) pursuant to the RAIF Law in the form of a special limited partnership (société en commandite spéciale) pursuant to the Companies Law. The Partnership is a closed-ended alternative investment fund (fonds d'investissement alternatif). LGIM Managers (Europe) Limited shall act as the external alternative investment fund manager of the Partnership. Legal & General Investment Management Limited shall act as the investment manager of the Partnership to whom the AIFM has delegated the portfolio management function.
Key risks
The value of any investment and any income taken from it is not guaranteed and can go down as well as up, and investors may get back less than the amount originally invested. Please refer to the prospectus of the fund before making any final investment decisions.
While L&G has integrated Environmental, Social, and Governance (ESG) considerations into its investment decision-making and stewardship practices, this does not guarantee the achievement of responsible investing goals within funds that do not include specific ESG goals within their objectives.
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