UK-based Alpha Real Capital, a real estate investment firm, held the first close of its Wind Renewables Income Fund (WRIF) at 11 million pounds ($128.5 million) in commitment.
The fund, WRIF, will predominantly invest in sub-5-megawatt onshore wind assets in the UK, providing investors with secure inflation-linked long income.
Alpha Real Capital secured the investment from two investors, including the Towers Watson Secure Income Fund, a multi-manager fund managed exclusively for UK pension funds, and the Yorkshire and Clydesdale Bank Pension Scheme.
WRIF has recently acquired two portfolios comprising 4 operating assets with a total value in excess of $14.1 million.