ECOFIN GLOBAL UTILITIES AND INFRASTRUCTURE TRUST PLC ('EGL')

LEI: 2138005JQTYKU92QOF30

Redwheel Acquisition of Ecofin

The board of Ecofin Global Utilities and Infrastructure Trust plc notes the recent announcement of the purchase of Ecofin, our Investment Manager, by Redwheel, a UK-based specialist investment manager. Redwheel is purchasing the assets of Ecofin in a transaction which is expected to complete by 30 September 2024. The Ecofin brand will be preserved.

Redwheel was established in 2000 and is home to investment teams specialising in Sustainable & Thematic Equities, Active Engagement, Emerging Markets, Value & Income and Convertible Bonds, with $17.6 bn (as at 30 June 2024) in assets under management, including the LSE-listed Temple Bar Investment Trust Plc.    

On behalf of the board, David Simpson, chairman, said

"We welcome the expertise and resources which Redwheel will offer to Ecofin and EGL. We are pleased that EGL's portfolio manager, Jean-Hugues de Lamaze, and the rest of Ecofin's investment team will all transfer to Redwheel. The strategy and investment process for EGL will remain unchanged."

For further information, please contact:

For Ecofin:

Michael Hart

[email protected]

tel: 07815 061 420

For the board:

Faith Pengelly

For and on behalf of

Apex Fund Administration Services (UK) Limited

Company Secretary

[email protected]

12 July 2024

Notes to Editors

About Redwheel

Redwheel is a specialist, independent investment manager with an active investment heritage built on a foundation of innovation, original thought, and high conviction. The business was established in 2000 with the ambition to create an environment in which exceptional fund managers can operate with a high degree of investment autonomy and maximise the benefits of their skills over the long-term. The seven investment teams specialise in Sustainable & Thematic Equities, Active Engagement, Emerging Markets, Value & Income and Convertible Bonds. A total of $17.6.bn (as at 30th June 2024) is managed across these strategies on behalf of clients who include some of the foremost global institutions and advisors.  

With more than 170 people, including 59 dedicated investment professionals, Redwheel has offices in London, Copenhagen, Miami, and Singapore. 

For additional information, please visit www.redwheel.com

About Ecofin

Ecofin is an investment firm with an environmental focus, principally investing in global companies focused on electrification, decarbonisation, and sustainable infrastructure. The firm manages global equity thematic strategies with the aim to deliver strong risk-adjusted returns to clients, who include leading institutions, family offices, foundations, and investment advisors, while investing to help solve some of the planet's biggest challenges.

Ecofin, headquartered in London, has employees based in both the UK and North America.

For additional information, please visit www.ecofininvest.com

About Ecofin Global Utilities and Infrastructure Trust plc

Ecofin Global Utilities and Infrastructure Trust plc is an authorised UK investment trust whose objectives are to achieve a high, secure dividend yield on a portfolio invested primarily in the equities of utility and infrastructure companies in developed countries and long-term growth in the capital value of the portfolio while preserving shareholders' capital in adverse market conditions.

For additional information, please visit www.ecofininvest/egl.com