Santander, Canadian pensions launch $2bn renewables platform

Santander, Canadian pensions launch $2bn renewables platform 2015-05-28 Bruno Alves Spain's Banco Santander and Canadian pensions Ontario Teachers' Pension Plan (OTPP) and Public Sector Pension Investment Board (PSP Investments) have unveiled a new global renewable energy and water investment

Spain's Banco Santander and Canadian pensions Ontario Teachers' Pension Plan (OTPP) and Public Sector Pension Investment Board (PSP Investments) have unveiled a new global renewable energy and water investment platform called Cubico Sustainable Investments, as reported by Private Equity International's sister publication Low Carbon Energy Investor.

The platform launches with $2 billion of assets under management (AUM), a 30-strong team from Santander's ex-Asset & Capital Structuring division, and big ambitions: on a conference call with journalists, Cubico chief executive Marco Sebares said the new venture wants to have $4 billion of AUM in five years' time.

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