UK-based fund manager Foresight Group’s head of infrastructure Jamie Richards has departed from his role at the firm, Infrastructure Investor has learnt.
Richards finished his 17-and-a-half-year tenure at the company at the end of March and has been replaced internally by Nigel Aitchison, partner at Foresight who previously headed the group’s efforts in the environmental and industrial sectors.
A spokesman for Foresight confirmed the changes and said Richards exited the company to pursue “private interests”, although a separate source told Infrastructure Investor he is moving into the real estate sector. Richards could not be reached before publication.
Richards joined Foresight Group in October 2000 and since 2007 has had overall responsibility for its infrastructure and solar business in the UK, Australia, Italy and the US, including the listed Foresight Solar Fund which had an IPO in October 2013.
The fund, which last year made its maiden move into Australia, had a net asset value of £481.3 million ($657.1 million; €547.3 million) as at 31 December 2017, a 37.2 percent year-on-year increase. The fund comprises 28 assets with a combined capacity of 674MW.
Nigel Aitchison’s work at Foresight since joining in September 2008 has included overseeing the UK Waste Resources and Energy Investments fund, a Foresight-managed vehicle on behalf of what was previously known as the Green Investment Bank. He also led the Foresight Environmental Fund, a £60.6 million offering focused on waste and recycling which closed in September 2011 and was fully invested by March 2016.