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About us
Amber is a leading international investment manager. For over 15 years, we have mobilised capital into essential, responsible infrastructure.

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We source, finance and manage infrastructure assets for both the public and private sectors, applying an integrated approach throughout the lifecycle of each investment.

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Source: Investment origination

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Manage: Asset management

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Amber develops and invests across a wide range of infrastructure sectors, each characterised by a long-term investment horizon and robust, creditworthy counterparties.

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Amber manages or advises eight funds with over £5 billion in funds under management. With a presence across 12 countries, Amber manages 175 infrastructure investments representing total assets under management of £14 billion.

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US Solar Fund plc

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Scottish Partnership for Regeneration in Urban Centres

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Our people are essential to our success. We are committed to building exceptional teams, maintaining our unique entrepreneurial spirit, and building a culture that is inclusive and impactful.

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Projects

Houstoun Industrial Estate

  • External building site
Other
Urban Development

In 2019, SPRUCE provided a £2.2m senior debt facility to fund the development of 39,000 sq ft of new industrial and trade counter accommodation at a site at the Houstoun Industrial Estate in Livingston, West Lothian.

Sector
Other
Urban Development
Location
West Lothian, Scotland
Status
Operational
Equity Ownership
Senior Debt Facility – Fully Repaid
Financial Close
February 2019
Term Length
Medium term senior debt facility

About

The project has strong credentials, including:

  • The conversion and adaptation of industrial sites and business centres and facilities that offer employment and training to people living in targeted areas. 
  • It facilitates regeneration by increasing access to development finance for speculative property projects and hence addressing the market failure for this in the current banking market.

Key impacts and benefits

Senior Debt Facility

£ 0.0 m

Jobs Creation Target

> 0

Business Space Created

0,0 sqm

Why we invested

  • Amber invested in this asset as it met the objectives of the SPRUCE fund.
  • Amber is the Fund Manager to the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) which is an Urban Development Fund (UDF) that supports regeneration and green energy projects throughout Scotland. The fund provides an innovative source of finance to eligible projects which are aligned to the Scottish Government’s regeneration and green energy strategies. Amber has been managing SPRUCE since its inception in 2011.
  • SPRUCE is a recyclable regeneration and energy efficiency fund, sourced from the Scottish Government, the European Investment Bank and the private sector, and is an innovative source of finance for projects that deliver outcomes aligned to key Scottish Government policy objectives.
  • SPRUCE supports a wide range of urban regeneration activity within well-defined, integrated, sustainable urban development plans. The Fund’s Investment Policy seeks projects in the following sectors: 
    • Rehabilitation of the physical environment
    • Construction of new buildings and/or renovation of existing ones and associated site specific infrastructure and servicing
    • Training and e-learning centres, including investment to increase ICT access
    • Creation of safe transport links between areas of opportunity and areas of need
    • Energy efficiency retrofit works delivering energy savings of at least 20% per annum
    • Energy production from renewable energy and low carbon technologies
Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

SDG contribution

Outcomes

  • SPRUCE facilities have typically addressed market failure in the provision of funding to eligible projects that demonstrate a strong regeneration or low carbon rationale. Projects funded through SPRUCE have generated direct employment benefits to local populations.
  • The SPRUCE fund provides affordable, flexible, repayable facilities for project sponsors, and was designed to lever significant co-investment from public sector and private sector sponsors in supporting urban renewal and employment growth through revenue-generating projects. Typically, projects will address market failure, will demonstrate a strong regeneration rationale, and will generate direct employment benefits to local residents.
  • Funding is provided in the form of competitively priced senior loans, mezzanine loans and equity to eligible projects to be repaid within an agreed timescale. Funding can be provided to public, private or joint venture entities delivering regeneration or energy efficiency benefits.

Related

All case studies

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