Richard Milligan, Manager
We spoke to Manager Richard Milligan about working at the National Wealth Fund.
Tell us what attracted you to join the National Wealth Fund?
The Fund’s distinctive mandate provides an opportunity to support local government in achieving climate change objectives and driving regional and local economic growth. The role being based in Leeds was also an important consideration, as I wanted to remain in the North.
What does your role involve?
My core responsibilities include engaging with local authorities on net zero and economic development projects. Depending on the stage of a project, we provide advisory or lending support. This involves scoping advisory work, developing content, and supporting delivery; managing local authority transactions, undertaking due diligence, reviewing financial models, and participating in legal negotiations. Additionally, I represent the Fund at external events and oversee internal progress reporting for the team.
What's it like to work at the National Wealth Fund?
The Fund offers exposure to a diverse range of sectors at varying stages of maturity. Our projects are innovative and highly impactful, and it is rewarding to contribute to local government initiatives that aim to achieve ambitious regional objectives. Another benefit is working within a skilled, motivated, and friendly team.
What were you doing before you joined the Fund, and how has your experience helped with the role you are now doing?
Prior to joining the Fund, I worked as a client-side project manager within a local authority, delivering highways and active travel projects. This experience provided a strong foundation in managing infrastructure projects from inception through to construction, as well as insight into the challenges faced by local government. Having previously been based in Leeds, I was also attracted by the Fund’s local presence.
What are your highlights/ proudest achievements since joining the National Wealth Fund?
A key highlight has been working on a bespoke community wind farm transaction with Orkney Islands Council - a project that was distinctive, impactful, and exciting to deliver. I have also enjoyed providing advisory support to numerous local authorities across the UK to develop and progress heat network projects, which has enabled me to build sector-specific expertise.
What are you looking forward to next at the National Wealth Fund?
I am looking forward to operationalising our Regional Project Accelerator offer, which will allow us to deepen our support to the market. In addition, I am currently working on several exciting transactions and look forward to seeing these successfully concluded.
What would you say to anyone thinking of applying for a role here?
It's a truly unique institution that has been setup to support the UKs climate transition and economic growth. The mandate is empowering and distinct, with exciting development opportunities, friendly colleagues and an office in Leeds.