JLEN appoints NatWest Trustee and Depositary Services as UK Depositary

New mandate extends existing banking relationship. 

By Richard Schwartz

NatWest Trustee and Depositary Services has been appointed as the UK depositary for JLEN Environmental Assets Group Limited (JLEN), a Guernsey incorporated, London listed investment company, managing a diversified portfolio of environmental infrastructure projects and assets in the UK and Europe. The JLEN Fund is managed by Foresignt Group. 

The appointment builds upon RBS International’s existing partnership with JLEN. The bank last year committed a £34 million contribution to a £170 million syndicated facility, supporting JLEN in its latest renewable energy investments. 

“NatWest Trustee and Depositary Services is delighted to once again be partnering with Foresight, where on this occasion we have been selected to act as the chosen UK depositary for the JLEN fund; which has grown from strength to strength since its successful initial public offering in 2014,” said Matthew Hiscock, head of alternative funds business development UK, NatWest Trustee and Depositary Services. “Given the fund’s strong ESG focus, it closely aligns with our own ambitions and sustainability goals, where we aim to support clients making positive strides towards the green agenda.” 

 Chris Tanner, Foresight partner and co-lead investment manager for JLEN Environmental Assets Group said the firm was happy to have NatWest Trustee and Depositary Services on board to support JLEN’s ESG commitments and continue its working relationship.  “We look forward to benefiting from their experience in ESG matters as we continue to develop JLEN’s own approach to ESG in the interests of investors,” he added.