Acquisition of Ecofin Ltd by Tortoise Investments

RNS Number : 2501J

Ecofin Global Utilities Inf Tst PLC

03 December 2018

 

ECOFIN GLOBAL UTILITIES AND INFRASTRUCTURE TRUST PLC

Acquisition of Ecofin Limited by Tortoise Investments, LLC

Ecofin Global Utilities and Infrastructure Trust plc ("the Company" or "EGL") announces the acquisition of its Investment Manager, Ecofin Limited, by Tortoise Investments, LLC.

Tortoise Investments, based in Kansas City, owns a family of investment management firms (collectively "Tortoise") which manage approximately US$20 billion including five New York Stock Exchange listed closed-end investment funds. Tortoise invests in essential assets and services which serve fundamental needs in society and clients' portfolios, such as diversification and income.

"Tortoise should prove to be a great resource for EGL as it has important expertise managing closed-end funds in the US with a strong focus on income distribution. Tortoise's experience investing in energy infrastructure will bring valuable additional insights, especially in expanding our research on the North American investment universe," said David Simpson, Chairman of EGL. "We are also pleased that the day-to-day management of the Company's portfolio will remain the same." Mr. Simpson's comments were echoed by Jean-Hugues de Lamaze, Senior Portfolio Manager for EGL. "We look forward to joining the Tortoise team. Tortoise's long history investing in energy infrastructure will complement our broad infrastructure expertise and research."

Kevin Birzer, Chief Executive Officer of Tortoise concluded: "We are thrilled to expand our focus globally and delighted that Ecofin's talented team will be joining Tortoise. We are very committed to helping Jean-Hugues and the rest of the Ecofin team continue to deliver a strong investment proposition and superior client service to EGL shareholders. Our culture is one that thrives on diverse ideas, viewpoints, opinions and backgrounds and the addition of our newest team members in London aligns perfectly with that mission."

For further information, please contact:

Elspeth Dick

Investor Relations

Tortoise

Ecofin Platform

Tel: [phone]

Susan Gledhill

Company Secretary

BNP Paribas Secretarial Services Limited

Tel: [phone]

3 DECEMBER, 2018

 

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