The €87bn pension fund for the Dutch metal industry, PMT, has invested in a coal-fired power station in Rotterdam through a fund managed by American private equity manager Riverstone Holdings.According to the metal fund, this is a ‘very limited interest’ that dates back to the time when investments in coal were not yet ruled out, a PMT spokesman said.The investment in the Riverstone fund dates back to 2015, he said, adding that PMT would no longer consider such an investment in coal-fired power stations appropriate.The spokesman said it is generally not possible to exit prematurely from a private equity investment as investors commit to a period of up to 10 years – which is the case for the Riverstone investment. To read the digital edition of IPE’s latest magazine click here. Although PMT has not invested in private equity funds that invest in fossil fuels since 2016, Riverstone’s fund finances at least four coal-fired power stations, one of which is in Rotterdam.Riverstone, which manages approximately $80bn (€67.1bn) in assets under management, is buying new coal-fired plants against the current trend. Many investors and energy companies do not want to get their “hands dirty” on coal because of the high CO2 emissions, the PMT spokesman said.In recent years, PMT, like other pension funds, has also focused on the transition to renewable energy. For example, the metal fund no longer invests in listed companies active in thermal coal. It does invest, however, in oil and gas companies such as Shell and Total.Fellow metal pension plan PME also invests in a Riverstone fund, but according to the scheme, the investment – initially made in 2008 – has no interest in Onyx Power, the company under which the Rotterdam power station falls under.
LAUREL, Ind. — A Laurel man was arrested after leading officers on a pursuit through Laurel and into Fayette County over the weekend.Early Saturday morning, the Laurel Police Department received a 911 call regarding a male who displayed a knife and was reported to be in the alley south of Pearl Streel.As police responded, a pickup truck quickly approached the police car.The officer exited his vehicle, and the driver of the pickup swerved toward the officer, and then back towards a utility pole before turning North onto Washington Street.The truck left the roadway at the intersection of Washington and Baltimore, striking a culvert, causing it to go airborne, and blowing the right front tire.Police say the pursuit continued through town.The Franklin County Sheriff’s Department along with Brookville Police had set up spike strips at State Road 1 and Laurel Road.The pursuit came to an end in Fayette County when the driver eventually struck a Fayette County Sheriff’s vehicle.The driver, William Ratliff, of Laurel, was arrested on charges of Resisting Law Enforcement, Reckless Driving, Operating a Vehicle While Intoxicated greater than 0.15, and Operating a Vehicle While Intoxicated causing Endangerment.Ratliff had a blood-alcohol level of .173, more than twice the legal limit, and also faces charges in Fayette County for Battery on a police officer.Police also determined that Ratliff was the male involved with the knife from the original call, and could face more charges after completion of the investigation.