Scottish Equity Partners bolsters energy team

The senior hires come as the venture capital firm deploys the remainder of its Environment Capital Fund, which it closed on £135m last September.

Scottish Equity Partners (SEP) has added two senior staff to its infrastructure team.

Peter Bachmann and Andy Low, who have joined the London- and Glasgow-based firm as director and principal respectively, will work exclusively on the Environmental Capital Fund (ECF), a £135 million (€173 million; $214 million) vehicle the company closed last September.

Bachmann will be based in SEP’s London office while Low will primarily work out of Glasgow. They will both focus on originating and executing new investments as well as managing ECF.

Bachmann was previously co-founder and director of the Environmental Infrastructure Development Company (EIDC). He also worked at STAR Capital’s Secondary Market Infrastructure Fund (SMIF) and real estate investment trust Land Securities Trillium.

Prior to joining SEP, Low was a partner with Melville Financial Partners where he specialised in the provision of project finance advice for the renewable energy sector. He was previously with PwC before moving into structured finance roles with Morgan Stanley.

“ECF is another significant fund for us and bringing on board two such seasoned specialists should enable us to quickly identify attractive opportunities for investment within the small scale clean energy infrastructure market,” said Calum Paterson, managing partner of SEP, in a statement.

ECF is backed by utility Scottish and Southern Energy (SSE) and a group of investors led by secondary private equity firm Lexington Partners. Seeded by the acquisition of SSE Pipelines, a UK gas transporter which ECF bought from SSE for £52.7 million, the fund now targets projects in sectors including hydro power, energy efficiency, heat pumps and district heating.