Corporate Vision March 2017

90 CORPORATE VISION / March 2017 , Founded in 2011, AuriumCapital Markets (Aurium) is an award-winning investment manager targetingmid-market opportunities primarily in the low carbon infrastructure sector. We were recently selected as Ones toWatch in 2017: Investment Management by Corporate Visionmagazine. Innovative Finance in the Renewable Infrastructure Sector The firm’s overall objective is simple – to originate, execute and manage best in class investments for itself and investors. High quality deal flow, rigourous due diligence and commitment to transparency are essential elements in delivering these objectives. Aurium aims to differentiate itself through a strong risk adjusted return – primarily by focussing on value-added mid- market situations where size, complexity, knowledge or speed of decision-making are all crucial to achieving attractive returns without compromising asset security. Investment structures can involve debt, hybrid or equity positions, depending on the particular situation. Aurium is a principal investor and is able to access a wide investor base, ranging from single family offices through to large institutions, in order to finance a broad range of investments. The essential element of Aurium’s approach is to leverage over 100 years of combined management experience in structured and asset finance to assess risk in a manner that is specifically tailored to the sector of the relevant project. For example, it is Aurium’s view is that specialist projects, particularly in the low carbon infrastructure sector, are often analysed by financiers on the basis of generic criteria rather than a detailed analysis of the quite unique combination of elements that make up each project (e.g. land rights, planning consents, asset and equipment finance, long term public sector subsidies, substantial corporate guarantees and warranties, etc). Aurium is fortunate to have both an internal team with a strong blend of skills and also access to an ecosystem of partners and advisers to provide support in specialist areas. Aurium is therefore able to deliver flexible (and often innovative) solutions to clients seeking finance for relevant projects. As with any investment manager, the value for investors is based on the quality of deal origination, excellence in execution and management through to exit, whether in the context of debt or equity. Aurium prides itself on these core objectives within a lean and focussed team targeted at minimising costs and maximising returns. Overview of the wider industry In 2009, EU legislation was enacted, setting a target for 20% of its energy to come from renewable sources by 2020, translating into a 15% target for the UK. Through the Climate Change Act, the UK government articulated its own goals to reduce carbon emissions by 80% by 2050 (compared to 1990 levels). Under the Coalition government of the time, the Department of Energy and Climate Change (“DECC”), now part of the Department for Business, Energy and Industrial Strategy (“BEIS”) set up a roadmap to reach this target by having 30% of electricity, 12% of heat and 10% of transport come from renewable sources. At the same time, the UK power generation sector is severely strained. Traditional energy sources (such as coal) are being phased out, whilst demand for power is increasing. Often, the difference between available supply and peak demand has to be met by using additional balancing measures in the form of diesel and gas, which can create further issues around emissions. There is therefore an increasingly important role for innovative solutions in the low carbon infrastructure sector. Aurium’s role in privatising the Green Deal Finance Company, targeted at reducing carbon emissions in the UK residential sector, , is an example of a step to overcome major challenges in this area. To stay ahead of emerging developments, we believe that constant research, communication with both policy decision makers and investors, and taking risk, both financially and commercially, will facilitate wider engagement by the private sector. We are a lean team with open architecture and a cohesive vision. We hire best in class professionals that share our vision to combine finance, strategy and policy to create attractive risk adjusted returns for investors whilst achieving wider policy objectives. With this in mind, our approach to hiring staff is to attract talent 1702CV30