PRESS CENTRE

Infrastructure team realises its 50% interest in Braes of Doune wind farm The Infrastructure team, part of the international business of Federated Hermes, is pleased to announce that Hermes Infrastructure Fund I (“HIF I”) has sold a 50% interest in Braes of Doune wind farm to Greencoat UK Wind PLC ("UKW"), for a consideration of £48.1m. 24/02/2021

Federated Hermes launches residential brand Hestia and expands portfolio with two new acquisitions The International business of Federated Hermes has today announced the launch of a new Residential brand – Hestia. 16/12/2020 - Chris Taylor

Federated Hermes managed assets see success in the GRESB 2020 results A number of portfolios and assets managed by the international business of Federated Hermes have achieved success in in this year’s GRESB Real Estate Assessment results. 27/11/2020 - Chris Taylor

Federated Hermes Infrastructure appoints James Wardlaw as Partner Federated Hermes is announcing the appointment of James Wardlaw as a Partner in its Infrastructure business. 26/11/2020

Looking into 2021 with Federated Hermes Senior management, the investment floor, EOS and our responsibility office share their outlooks for next year. 19/11/2020 - Saker Nusseibeh, CBE

Hermes Infrastructure realises 25.6% investment in Energy Assets 17/06/2020

Dermot Kiernan to head Hermes Property Unit Trust The International business of Federated Hermes is pleased to announce the appointment of Dermot Kiernan as Fund Director for its Hermes Property Unit Trust (HPUT). 11/06/2020 - Chris Taylor

Hermes strengthens private debt platform with new hire Hermes has announced the appointment of Kevin Roche as a Director for Private Debt and CLO’s. 17/05/2019

Hermes’ holistic approach to sustainable investment recognised Hermes Investment Management, the £35.3 billion manager, has grown on its already recognised position as a leader in sustainable investment by gaining five GRESB stars for three of its funds – with two funds being sector leaders. The Global Real Estate Sustainability Benchmark (GRESB) is a leading source of portfolio-level sustainability data for the real estate industry that covers around $3.6 trillion in assets under management – totalling 79,000 assets. 18/09/2018

Quadgas Investments enters agreement to acquire remaining 25% interest in Cadent Gas LONDON, 1 May 2018. Quadgas Investments BidCo Limited (‘Quadgas’), a consortium of long-term infrastructure investors, is pleased to announce it has entered into an agreement to potentially acquire the remaining 25% ownership interest in Cadent Gas (‘Cadent’) from National Grid plc (‘National Grid’). The acquisition is at the option of National Grid or Quadgas (as applicable) to complete at any time between 1 March 2019 and 31 October 2019, subject to no less than six months’ prior written notice and satisfaction of customary regulatory conditions. 01/05/2018

Hermes acquires the Co-Op Group's stake in NOMA Hermes Investment Management, the £30.8 billion manager, has acquired The Co-op Group’s entire share interest in the sites and buildings within their NOMA Joint Venture (JV). NOMA is Manchester’s most significant urban regeneration scheme and the largest development project in North West England. The 20-acre mixed-use redevelopment scheme, which is transforming Manchester’s city centre, has been delivered by a 50:50 JV partnership between Hermes Investment Management and The Co-op Group since 2014. The JV was formed to bring forward new offices, homes, hotels, retail and leisure, as well as vibrant urban spaces and substantial new public realm. With over 6,500 people already working in the NOMA neighbourhood, there is ongoing strong demand for high quality office space in the region and it is fast becoming one of the best-connected business destinations in the country, boasting excellent transport links. Manchester Victoria station has undergone £44 million of investment and the neighbourhood is strategically located next to both the Shudehill transport interchange and the new Exchange Square tram stop with a direct link to Manchester airport. 22/12/2017

Hermes and Thames Water • In October 2012 Hermes Investment Management acquired a 13.06% stake in Kemble Water Holdings Limited, the ultimate holding company of Thames Water Utilities Limited, on behalf of a major institutional client. We have today entered into an agreement to sell a partial interest in our client’s current stake, primarily for portfolio construction reasons and on completion of the transaction will continue to hold an 8.7% ownership interest. As one of the UK’s largest direct infrastructure investors and a significant investor across the water sector, we remain committed to acting as a responsible investor with a strong focus on governance and continued engagement with the regulator, fellow shareholders and broader stakeholders more generally. The sale is subject to completion of customary regulatory approvals. 03/11/2017

Hermes/CPPIB announces Wellington Place in Leeds will be new Yorkshire Government hub The JV between Hermes Investment Management, the £30.1 billion manager, and Canada Pension Plan Investment Board (CPPIB), has confirmed that the Government has chosen Wellington Place in Leeds as the location of a new hub in Yorkshire. Scheduled for completion in 2020, the public body will be welcomed to the thriving business community at Wellington Place which is one of the largest and most prestigious new city centre business quarters in Europe. 06/09/2017

Origination is key to success in direct lending Since the financial crisis, changing regulation and a more conservative risk environment mean that banks have been reluctant to make loans of the size that they did prior to the crash in 2008. As a result, small and medium-sized companies have had to look to other financing providers. One, albeit small, source of funding has been institutional investors, which have established pure direct lending funds to service this growing demand. Patrick Marshall, Head of Private Debt & CLOs at Hermes Investment Management, discusses the options for loan origination. Like all asset classes, this asset class comes with inherent risks. These include credit risk in the form of borrowers’ defaults, which was a significant issue for lenders during the financial crisis. Medium-sized companies have an average default rate of around 3.1% over the past 10 years. However, senior secured loans, which stand at the top of the capital structure, enjoy average recoveries on default in Europe in excess of 75%, which is significantly higher than some other asset classes such as high yield bonds. 08/08/2017 - Patrick Marshall

Hermes announces new findings in latest responsible property investment report •Hermes Investment Management (Hermes), the £30.1 billion manager, has today released the report Intentionality & Outcomes, which details how responsible property investment (RPI) is still at the forefront of the property industry. Outlining its approach and calling on other institutional investors to follow suit, Hermes demonstrates how RPI is relevant on three different levels. Chris Taylor, Head of Private Markets, Hermes Investment Management, said: “We seek to build on long term value and are absolutely committed to delivering not just outstanding financial results, but a positive impact on society and the environment. “If you can create places where people want to work and live, this increases the chance of attracting global talent and, in turn, global capital while creating a real sense of renewed civic pride embodied by new infrastructure and accessible place-making in the urban infrastructure and public realm we are delivering.” 08/08/2017

Hermes calls for enhanced corporate governance regime for private infrastructure assets Hermes Investment Management (Hermes), the £28.6 billion manager focused on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, is calling for an enhanced corporate governance code for private infrastructure assets. The code would provide essential social services to help close the governance gap and ensure consistent and optimal outcomes for investors, employees and other stakeholders. The paper ‘Corporate Governance of Public Service Infrastructure Assets’, outlines two key areas for consideration, designed to help close the governance gap created by the lack of existing relevant and/or appropriate reference points for these businesses. Those areas include: 13/02/2017

Chief Executive Saker Nusseibeh and Group Chief Economist Neil Williams respond to a clear ‘Leave’ majority vote Saker Nusseibeh, Chief Executive: With the vote decided yesterday, we now have to move away from the rhetoric that typified this campaign. Prior to the referendum, we ran several scenarios on our strategies, and we are reasonably confident that they were well positioned for a Brexit vote in the short term. However, we are watching market moves very carefully to assess the degree of contagion, if any, to global markets. 27/01/2017 - Saker Nusseibeh, CBE

Quad Gas Group acquires 61% stake in National Grid Gas Distribution Quad Gas Group, a consortium of long-term infrastructure investors, today announces that it has entered into an agreement with National Grid plc to acquire a 61 percent shareholding in its four regulated gas distribution networks. These gas distribution networks cover the East of England, North London, North West and West Midlands, and distribute gas to approximately half of the country’s connected households through 130,000 km of gas pipeline. They represent approximately 14 percent of the total regulated energy infrastructure sector in Great Britain by regulated asset value and are regulated by Ofgem. 08/12/2016

Sustainable infrastructure investment - long-term investing with a social purpose and a responsible focus Peter Hofbauer, Head of Infrastructure at Hermes Investment Management, discusses infrastructure’s role as a sustainable asset class, highlighting how responsible investment considerations play an integral part of infrastructure investment decision making and asset management. Defining sustainable investment Sustainable investing has two principal definitions: first, selecting investments on the basis of their ESG (environmental, social and governance) attributes, and second, truly long-term investing, aligned with the dictionary definition: ‘able to be maintained or kept going; a system that maintains its own viability…for continual reuse.’ 23/11/2016 - Peter Hofbauer