National Wealth Fund’s cover photo
National Wealth Fund

National Wealth Fund

Banking

Leeds, West Yorkshire 30,497 followers

The National Wealth Fund is focused on driving growth across the UK.

About us

We have £27.8bn to invest and we are focused on mobilising private capital around the Government’s strategic priorities, enabling the market to invest with confidence. We also have an advisory and lending service that is available to local authorities. Our investments must meet our triple bottom line: Tackling climate change and driving regional and local economic growth. Generating a positive financial return to create an enduring institution. Being additional in the market, mobilising private finance. We are wholly owned and backed by HM Treasury, but are operationally independent. We are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

Industry
Banking
Company size
201-500 employees
Headquarters
Leeds, West Yorkshire
Type
Privately Held
Specialties
Infrastructure, Banking, and Investment

Locations

Employees at National Wealth Fund

Updates

  • Colleagues were addressed by our new CEO Oliver Holbourn yesterday, who spoke of the early priorities of our next phase. Here he shares the speech he gave to #NWF staff at our Leeds headquarters.  

    View profile for Oliver Holbourn

    Chief Executive Officer, UK National Wealth Fund

    Yesterday I addressed the team at the National Wealth Fund as we begin the next phase of our ambitious journey. The National Wealth Fund has gone from an idea four years ago to being the UK’s lead policy bank and flagship investor committing more than £7billion with more than £16billion in private finance mobilised along the way. I am hugely proud of the team. Our journey ahead is exciting, with roughly three quarters of our £27.8bn of capital still to deploy in the coming years. As a public body - investing public money to help unlock a better future for the UK - we are publicly accountable, so part of my role as the CEO is to tell our story to a wider audience. That is why I am publicly sharing the speech I gave yesterday to our organisation. As we focus on our people, our profile, our plan and the pace at which we operate, I hope this gives you an insight into the National Wealth Fund and the early priorities of our next phase. I will continue to be open about our work, our opportunities, our successes and our challenges. Olly

  • An important milestone for the UK's future energy security has been announced yesterday as Sizewell C reaches Financial Close. Following a Final Investment Decision in July 2025 which announced the National Wealth Fund as a significant lender to the project, Sizewell C has confirmed the £5 billion of commercial debt raised through the Bpifrance export credit facility as well as a £500 million Working Capital Facility. Funds will now start flowing, unlocking full-scale construction at the plant, which is expected to support thousands of jobs and supply power to 6 million households once operational. Read more about our role in the comments below.

    View organization page for Sizewell C

    66,928 followers

    ⚡ A landmark moment for British nuclear: Sizewell C has officially achieved Financial Close.   This milestone establishes Sizewell C as a fully funded, standalone company, powering forward our mission to build and operate a new nuclear power station for the UK. Here’s what it means for Britain:   💡 £2 billion a year in potential system savings once operational, working to lower bills for consumers 👷♂️ 10,000+ skilled British jobs created, plus thousands more in the supply chain 🎓 1,500 apprenticeships, building a lasting skills legacy for the future 🇬🇧 Over 70% of construction spend to the UK, driving growth nationwide   🤝 Sizewell C leads a new era of nuclear as it becomes the first project globally to be financed with independent, private financial investors. It will deliver cleaner, cheaper, and more reliable energy to 6 million homes for at least 60 years with greater efficiency and value for consumers.   Nigel Cann and Julia Pyke FEI, HonFNucl, Joint Managing Directors of Sizewell C, said: “In Sizewell C the UK has pioneered a model for financing new build nuclear which works for both consumers and private investors — and has attracted considerable interest from other countries with nuclear power development plans.”   This is a defining step forward for the UK’s clean energy future — with nuclear and Sizewell C leading the way.   Read the full details of the milestone moment in our press release: 👉  https://lnkd.in/eZNvcjwC   #SizewellC #FinancialClose #NuclearEnergy #UKInfrastructure #CleanEnergy

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  • Another fantastic milestone for Lloyds Banking Group with the announcement of their third green retrofit loan backed by the #NWF. The £50 million loan to leading housing provider VIVID will fund the sustainable retrofit of around 2,000 homes across Hampshire, Surrey, Berkshire and West Sussex. VIVID secured separate financing from Barclays earlier in the year under the NWF's retrofit guarantee scheme. Commenting on the news, Stuart Nivison, NWF Head of Portfolio Management, said: "We’re delighted to see the continued progress Lloyds is making to support housing associations with the attractive financing they need to deliver warmer, greener homes for their customers. It is encouraging to see providers like VIVID accessing a variety of products under our guarantee scheme, with hundreds of millions of pounds backed by the National Wealth Fund already allocated to vital retrofit measures."

    View organization page for Lloyds Banking Group

    574,280 followers

    Coming soon…  Warmer and more energy-efficient homes for thousands of social housing tenants. VIVID, a leading housing provider, has secured a loan agreement of £50 million to fund the sustainable retrofit of homes across Hampshire, Surrey, Berkshire, and West Sussex.  This retrofit loan is part of our long-term commitment to help ensure families have access to safe and warm homes.   This deal with VIVID builds on similar announcements with Peabody and SNG (Sovereign Network Group).   Across these three financing deals agreed in 2025, we’ve now delivered £210m of the £500m social housing funding commitment, partially backed by the National Wealth Fund, a UK government initiative.

  • We're extending a warm welcome to our new Chief Executive Officer Oliver Holbourn, and Chief Operating Officer Susan Urkevich, who both join the #NWF today. Oliver brings more than 25 years of experience across banking, strategy, and public financial investments including CEO roles at RBS International and, formerly, UK Financial Investments. Susan has more than 25 years’ experience in financial services, including roles in sustainability, infrastructure finance and operational resilience. Both Oliver and Susan bring their considerable expertise to our Executive Committee, and we look forward to their strategic direction and leadership as we enter our next chapter, Find a link to our Executive Committee page in the comments, where you can read more about Oliver and Susan.

    • Headshots of Oliver Holbourn and Susan Urkevich
  • Earlier this week the Treasury Select Committee published its report on the National Wealth Fund. Its findings included that NWF must have the appetite to take risks and “in embracing risk to stimulate new markets, be prepared for some investments to fail,” as well as “cautious optimism that we will achieve our investment priorities related to clean energy.” Below you will find a reminder of key data from our recent impact report which revealed how we are laying the foundations for long-term growth. As we develop our long-term strategic plan, we will be taking the report’s findings into consideration, to ensure our capital is deployed effectively against our triple bottom line: deliver the growth and clean energy missions, crowd-in private capital over time and generate a return for the taxpayer.

  • We welcome today’s publication of the Government’s Carbon Budget and Growth Delivery Plan. The NWF exists to drive #growth and the #cleanenergy transition. Many of the sectors and projects in which we invest are creating good jobs in the clean energy sector. Our recent Impact report showed that over half of our portfolio is in clean energy (£3.9bn), creating 6.3GW of additional capacity – enough to power 4.5 million homes, while many of the 64,000 jobs our investments have helped create or support are in this sector. If you have a project you would like to discuss with us contact us here: https://lnkd.in/ea7nYjsq

    Lower bills, warmer homes, cleaner air and good jobs across Britain. Our Carbon Budget and Growth Delivery Plan captures the benefits of clean energy for working people and businesses across Britain. Our plan sets out how the UK will continue to reduce emissions in a way that lowers bills and secures good jobs, in line with the landmark 2008 Climate Change Act framework to protect the British people from the long-term threat of climate change. We are delivering better lives for people today - from warmer homes and cleaner air to cheaper transport and increased access to nature - as we tackle the climate and nature crises to protect our home for future generations. Read more: https://lnkd.in/eQ25TCpJ

    • DESNZ Graphic with forets bacground overlayed with text reading: climate and clean energy plan to boost British investment
  • Hear from our client Pulse Clean Energy on the impact we are having on the #CleanEnergy sector, and how we catalyse private capital. We closed our first debt transaction in battery storage with Pulse in May 2023. Our backing led to growing market interest, meaning we could then step back as we were no longer needed.

    View organization page for Pulse Clean Energy

    5,390 followers

    The recent National Wealth Fund report, ‘Financing Growth, Powering Change’, sends a strong vote of confidence in Britain’s clean energy future. Earlier this year, Pulse Clean Energy were backed by the NWF, representing their first debt transaction in battery storage. We are pleased to see a continued market interest, with the largest share of their recent £7.3 billion investment being directed toward renewable energy and green infrastructure, from offshore wind to low-carbon technologies. Beyond funding, this investment is acting as a catalyst, attracting further private capital into the clean energy sector. From November, Oliver Holbourn will take the helm of the fund, and we look forward to seeing the next wave of investment driving Britain’s low-carbon transition. Swipe for more details on the investment funds. #CleanEnergy #RenewableEnergy #EnergyTransition 

  • Managing Director in Banking and Investments Steve Lomas gave a keynote interview at the Infralogic Investors Forum Europe this week. Steve talked to Global Managing Editor of Infralogic Brendan Malkin about where we invest and the evolution of our portfolio, giving examples of recent projects. Watch the whole keynote at the link in Infralogic's post. #IIFEurope

    View organization page for Infralogic

    11,220 followers

    🚀 We kicked off #IIFEurope today with an insightful keynote interview, where Brendan Malkin sat down with Steve Lomas, Managing Director of Banking and Investments at the National Wealth Fund (NWF). Steve played a leading role in the setup and launch of the UK Infrastructure Bank, now the National Wealth Fund. At the NWF, he oversees transactions across the transport, digital, retrofit, and power grid sectors, and is co-leading the implementation of the guarantee product suite. The keynote explored where the NWF has been investing, highlighted recent projects, how much they’ve invested in private markets over the past 12 months, and discussed the evolution of their portfolio, as well as the new technologies and opportunities they’re exploring. 🎥 Watch the full keynote on demand now: https://lnkd.in/eRD3FzhF

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  • As part of our wellbeing programme and support for the #GreenRibbonCampaign, colleagues in our Leeds office took part in a walk together this week, to show support for mental health awareness and #EndingTheStigma in the workplace. Led by our Chief Impact Officer Sheer Khan and General Counsel and Company Secretary Davinder Mann, the walk followed a route in the shape of a green ribbon — a simple but powerful reminder of the importance of connection, openness, and support for #WellbeingAtWork. #MentalHealthAwareness #EndTheStigma

    • Group shot of green ribbon walk
    • Colleagues chatting during green ribbon walk
    • Colleagues taking part in the green ribbon walk
  • It was great to be part of the Regional Investment Summit today, as we launched our Regional Project Accelerator. As part of our transformed offer for local government we are focusing on longer-term and deeper strategic partnerships with high growth Mayoral Strategic Authorities and City Regions in the UK. Hear from the Mayors and Leaders of our existing Strategic Partners: Susan Aitken, Leader of Glasgow City Council and Chair of the Glasgow City Region Cabinet; Andy Burnham, Mayor, Greater Manchester Combined Authority; Richard Parker, Mayor, West Midlands Combined Authority; Tracy Brabin, Mayor of West Yorkshire, West Yorkshire Combined Authority. Find out more about the Regional Project Accelerator at the link in the comments.  

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