These are uncertain times for markets which provides increasing impetus for investors looking to allocate more into uncorrelated private market strategies to capture a return premium. Yet illiquidity in these funds presents a challenge for investors unable to commit for five to 10 years without certainty on how they will be able to liquidate their investment. At the same time, there is a £212tn funding requirement to deliver the energy transition – this is a huge opportunity but requires a deep, specialist understanding of the broader energy sector across markets, to separate the attractive investment opportunities from the hype.
In this session, Matt Setchell and David Bird discussed a solution for investors seeking to help accelerate the path to net zero without compromising on investment returns but retaining monthly liquidity. They will discuss how to identify attractive opportunities and avoid pitfalls and will then explain how impact can be measured in clear ways across planet and people, through job creation while simultaneously delivering strong returns for savers' pensions.
Octopus Energy Generation is a global company leading on the energy transition and is the fund management business wholly owned by Octopus Energy with c£7bn of energy assets under management and a global team of 170 specialists focused on investing across this opportunity set.
Ecosystem Theme: Climate Innovation
Who was this event open to?
This event was open to asset owners such as pension fund trustees and in-house executives, independent investment advisers and investment consultants.
Speakers
David Bird, Investment Director, Octopus Energy Generation
David is an investment director who joined the Octopus Energy Generation team in 2014 and is joint fund manager for the Octopus Renewables Infrastructure Trust (ORIT).
As well as working in the transaction team leading acquisitions and project finance debt raising in the UK, France and Ireland, David has previously led the team responsible for the management of Octopus Energy Generation’s bioenergy investments and has represented Octopus Energy Generation on a number of industry panels convened by Ofgem, the Great Britain energy regulator.
Before joining the Octopus Group, David was a director at Walbrook Capital, a boutique investment manager with a particular focus on renewables. He is a chartered accountant having qualified at EY, and holds a Masters in Mathematics from Oxford University.
Matt Setchell, Co-head, Octopus Energy Generation
Matt started the Octopus Energy Generation team 14 years ago. During this time, Matt led Octopus’ investment into Lightsource Renewable Energy (now Lightsource BP) and oversaw the growth from start-up to exit. He also led the team’s expansion strategy from an initial focus on UK solar PV into onshore and offshore wind, other renewable energy assets and broader energy transition investments across Europe, the USA, Australia and Asia.
Matt is CEO of Octopus Renewables Limited and, alongside this, is a member of the OEGen Investment Committee and OEGen Allocations Committee. Before joining Octopus, Matt was an Investment Manager at Shore Capital and a manager at PwC. He has an MBA from Cambridge University and an Economics degree from Bristol University.
Host
Karen Shackleton, Chair & Founder, Pensions for Purpose
Karen has worked in the finance sector for over 30 years. As well as being Founder of Pensions for Purpose, she is Chair of the Strategic Investment Board for the Ministry of Justice and a Non-executive Director and Chair of the Board of Resonance Ltd, a social impact investment company. She sits on the Advisory Council of the Impact Investing Institute.
Karen also provides independent investment advice to the London Boroughs of Islington and Camden through Apex Group. She was the Chief Executive/Managing Director of AllenbridgeEpic Investment Advisers from 2010 to 2013. Prior to that, she had ten years’ experience as a fund manager and director for County NatWest and BZW Investment Management (now BlackRock).
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