11 March 2024 Press
Equitix among top firms advising Labour on National Wealth Fund
Equitix is pleased to announce that its Chief Executive Officer, Hugh Crossley is among other leading figures from the UK’s investment and financial services sector advising the Labour Party on how to implement its potential National Wealth Fund to maximise the crowding in of private capital.
Over the next three months, the Taskforce on National Wealth Fund will consider different models and approaches to establishing the Fund. Labour has pledged to invest £7.3 billion, but for every one pound of public investment, the Fund would be required to crowd-in a further three pounds of private sector investment. The Taskforce will look at what mechanisms are needed to crowd in that private capital, what policy measures can incentivise investment and how best to develop a pipeline of investable projects to create good well-paying jobs in a zero-carbon economy.
Its recommendations will be presented to the Shadow Chancellor Rachel Reeves MP and Shadow Energy Security and Net Zero Secretary Ed Miliband MP.
Equitix is a well-established and trusted investor, operating in the UK since 2007. With over 350 assets under management, valued at more than £11bn, they bring extensive investment and operating expertise across a number of sectors. Equitix is a leading investor in UK green energy, managing 39% of the UK’s installed offshore renewable capacity, with investment in the top four wind farms in the world.
Hugh Crossley, CEO of Equitix said: “At Equitix, we understand that delivery of a zero-carbon economy will require significant private sector capital. As a leading investor in the UK’s green energy and infrastructure, we welcome the opportunity to share our expertise in attracting investment and look forward to working with the Taskforce to deliver this important work.”
