Mariana Estate Planning Solution

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Investment Objective

The Mariana EPS is a capital preservation focussed Business Relief (BPR) Service.

Funds are invested into an unquoted trading company created for this product’s purpose. The underlying company provides funding to high quality, asset-backed energy and infrastructure projects in the renewable energy sector. Current projects include: anaerobic digestion, hydro-electric water turbines, solar, wind and biomass. All projects must meet three criteria:

  1. The projects must involve proven technology It is crucial that Mariana’s Investment Team are confident the infrastructure involved has a track record of performing to high operational standards. In all cases we secure long-term operation and maintenance contracts to ensure the assets continue to perform in line with expectations.
  2. The projects must have a known cost base The costs of installation, operation and maintenance must be predictable from the outset. This is an important factor in reducing investment risk as the cost parameters are largely defined from the start of the investment.
  3. The projects must deliver a predictable revenue stream It is crucial that the projects deliver a long-term, predictable revenue stream. We look to ensure that we have a measurable level of revenue generation from each project and this is secured, contractually, from the outset.

An example project:

We are working alongside some of the UK’s largest water utility companies (e.g. Northumbian Water). We are offering them a cheaper source of energy via the installation of hydro-electric water turbines installed within their water pipe network. The turbines are funded, and owned and operated, by our investee company. The natural flow of water turns the turbine to create energy, which will be sold back to the water company for 20-30% less than the cost of buying energy from the UK grid. This gives the water utility companies a cost saving on their energy expenditure. The water companies enter into 20-30 year PPAs (Power Purchase Agreements) with our investee company. The contracts stipulate a fixed price at which energy will be sold during the contract’s term and are inflation linked. This provides our investee company with a long-term, predictable revenue stream from a high credit counterparty.

Liquidity The only way in which all other providers in this space provide liquidity within the underlying companies they manage is to sell an exiting investor’s shares to an incoming investor. The danger here is that if there was no demand for the product there may be no exit route for an investor who wants to sell their shares. Mariana offer an optional facility whereby we will offer to purchase the shares from an exiting investor – at the independently audited valuation of the shares. In all cases this will completed within one month.

Exit Strategy

Mariana offer two forms of liquidity: 1. Standard liquidity – quarterly liquidity windows whereby Mariana will sell the exiting investor’s shares to incoming investors. 2. Enhanced liquidity – monthly liquidity windows whereby Mariana will purchase the shares from the exiting investor.

Fund Manager

Enterprise Investment Partners LLP

Enterprise Investment Partners LLP is a specialist smallcap investment boutique established over five years ago, whose activities include corporate finance, fund management and the design and promotion of tax-efficient investment products, with major emphasis on EIS.

Enterprise has considerable experience of EIS and the tax-efficient industry, with particular expertise in the leisure, media, commercial property and renewable energy sectors. The three principals together have raised over £200m under EIS, VCT and other tax efficient structures over the last five years.

For more information please visit www.enterprise-ip.com

Fund Provider

Mariana Capital Markets LLP

Mariana was founded in 2009, initially as an institutional brokerage firm. Over the years, we have developed a number of business lines; expanding our offering to include Market Strategy & Research, Real Estate and Tax Advisory Services. In addition to this well-established institutional presence, we offer a range of Structured Products, Enterprise Investment Scheme (EIS) and Business Relief (BPR) qualifying investments to financial advisers. We have raised over £800 million, from financial advisers, across our range of products. We employ over 80 staff and have offices in London, New York and San Francisco.

We have employed Enterprise Investment Partners LLP as the Investment Manager of all of our tax efficient investments. Enterprise have raised over £200 million in tax efficient investments, maintain a strong track record and have substantial experience in the sectors in which our products sit. One of the founding partners, Martin Sherwood, is a founding director and serving member of the EISA (Enterprise Investment Scheme Association) Board.

For further information please visit www.marianainvestments.com

Fees

Initial fee

2%

Annual Maintenance Fee

0.75%

Exit fee
  • 1% exit fee (standard liquidity).
  • 2% exit fee (enhanced liquidity).
Annual Adninistration Fee

1.25%, charged to the investee company

Kuber Specific Arrangements

None

For further information please do not hesitate to

contact us on:

+44 (0) 20 7952 6685
info@kuber.uk.com
www.kuberventures.co.uk

Fund at a glance

Scheme Categorisation

This fund is structured as an Alternative Investment Fund the supporting Information Memorandum can be at www.marianainvestments.com

Target Return

4% per annum, net of all fees

Scheme Strategy

Asset Backed

Investment Sector

Renewable Energy

Target Diversification

In addition to AD assets, the Mariana EPS will invest in hydro- electric water turbines and solar sites where appropriate.

Nominee & Custody Arrangements

The Nominee: Woodside Nominees Limited

The Custodian: Woodside

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