Foresight bolsters solar fund team

The UK-based asset manager has strengthened its Madrid team, appointing an investment director formerly with Spanish solar energy specialist Fotowatio.

Alternative asset management group Foresight has strengthened its solar team with a new hire in its Madrid office.

Humberto Santillana has been appointed an investment director at Foresight, where he will source and lead deals in the solar photovoltaic sector in Spain and the rest of Europe.

He was previously a director in the acquisitions and financing department of Spanish solar energy specialist Fotowatio. Prior to this he was responsible for infrastructure-related transactions at Babcock & Brown, according to a Foresight statement.

Jamie Richards, head of Foresight’s solar fund said the appointment is intended to support the firm’s ambition of growing its solar portfolio across Southern Europe.

Foresight launched its first solar fund in may last year and has so far made three investments with a combined generating capacity of 19 megawatts. This first solar fund was closed with €35 million of commitments in July. Foresight has also started marketing its second solar fund which will invest in up to 250 megawatts of solar projects.

Across all its funds Foresight Group manages roughly £200 million (€223 million; $326 million).