Greencoat UK Wind PLC (the "Company" or "UKW"), the leading listed renewable infrastructure fund, invested in UK wind farms, announces that Laurence Fumagalli has informed the UKW board of his intention to step down from his role as co-head of the Schroders Greencoat LLP ("Schroders Greencoat") investment management team managing UKW on 1st March 2024. Laurence will remain part of the senior management team of Schroders Greencoat.
The board is pleased to announce that Matt Ridley, Partner, Schroders Greencoat, will succeed Laurence to co-head the investment management team to manage UKW alongside Stephen Lilley from 1st March 2024.
Matt is currently Head of Private Markets at Schroders Greencoat. In this role, he has delivered private markets capital for co-investment alongside UKW and has contributed to strategy, valuation, investment and other UKW board matters during his tenure at Schroders Greencoat. He has 16 years' renewable energy investment management experience, spanning the development, construction and operational phases across a range of technologies, and prior to joining Schroders Greencoat in 2021 he was Head of Equity Infrastructure at Temporis Capital. Earlier in his career Matt qualified and practiced as a tax lawyer and he holds a BSc in Mathematics from the University of Exeter.
Lucinda Riches, Chairman of Greencoat UK Wind, said: "On behalf of the board, I want to thank Laurence for his contribution to Greencoat UK Wind. Laurence, alongside Stephen, launched UKW in 2013 as the first listed renewable infrastructure fund. Since listing, Greencoat UK Wind has established a strong track record of delivering significant shareholder value, with a TSR of over 150%, whilst enabling the continued build out of renewable energy across the UK.
"As a board we have worked closely with Matt over the last 2 years and are delighted that he is joining as co-head of the investment management team alongside Stephen. Matt brings a broad range of experience and technical capabilities to this role, and we look forward to working with him even more closely."