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Foresight expands in Italy

Asset manager Foresight Group has opened a new office in Italy to support
its new European Solar fund.

Foresight’s European solar fund will invest in solar photovoltaic opportunities in Italy and Greece and is set to expand into other southern European markets in the future.

The manager is looking to take advantage of long term government backed incentives through feed-in tariffs and asset-backed projects using established technologies to build a dedicated portfolio of projects in the renewable energy sector.

The new fund aims to generate returns for investors in the form of annual distributions and capital gains on the sale of assets. Foresight’s Italian division is led by Luca Passariello, formerly of Bain & Co, who has been appointed as European general manager to oversee activities in the region.

Foresight Group founder and managing director Bernard Fairman says:“Opening an office in Italy is part of our long term strategy to increase our access to key European markets that are at the forefront of developments in the environmental infrastructure space, in particular solar.

“The European Solar Fund will enable us to maximise the investment opportunities in Italy and beyond and we are seeing strong interest from institutions and private investors who recognise the return potential of the sector.”

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