Resonance Asset Management LLP acquired four British wind farms after getting a $100-million fund boost. The asset purchase comes as the company seeks long-term returns and backing from the state, according to Bloomberg.

Resonance chief Nick Wood said the UK firm gained commitments from institutional investors for the first Resonance British Wind Energy Income fund. Wood said the fund has spent 86% of the new capital, including its purchase of the wind farms in northern England, Wales, and Scotland, the report detailed.

Wood said of the newly-bought assets: "They are very attractive, cash-generative assets for institutional investors. We see this end of the market as quite fragmented and starved of exit capital, which provides us and our investors with an opportunity to bring it in for developers."

The wind farms bought by the fund include Bettyhill on the north coast of Scotland and Invenergy LLC in Chicago. Wood also said the fund also acquired three parks located at industrial sites in Lancashire, Newport of Wales, and Cumbria, Bloomberg reported.