Climate Change Raises $272M Clean-Tech Private Equity Fund

Sep 6 2007 | 11:58am ET

U.K.-based Climate Change Capital, an investment banking group focused on investments in clean energy and the low carbon economy, has raised €200 million (US$272 million) for its latest offering.

The Climate Change Capital Private Equity Fund targets the high-growth areas of clean power, clean transport, energy efficiency, waste recovery and water across Europe, and will invest in expansion and later stage companies including buyouts. It has a 10-year life and an initial five-year investment period. Its targeted investment size is between €5 million and €20 million per portfolio company, typically as a lead or co-lead investor and with active board participation.

Investors in the fund include AlpInvest, Robeco, HSBC, USS, Alliance Trust, Bankinter, Wölbern Group and Harcourt.

According to the firm, global investment in clean technology totaled US$5.8 billion in 2006, an increase of 58% from the previous year. In March, the 27 European Union member states agreed on a binding target that 20% of energy consumption should come from renewable sources by 2020, and agreed to cut carbon dioxide emission levels by 20% below 1990 levels by 2020.

“The European clean technology market offers the potential for excellent returns, and we are confident that we will be seen as a partner of choice by companies in this market, whose growth we feel we can support both through capital and access to Climate Change Capital's international network,” said CPE partner Simon Drury.
Climate Change currently manages over $1 billion in total assets.

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