Sustainable Technology Investors (STIL) has launced the GBP100 million Nobel Sustainability Growth Fund (NSGF) in partnership with the Nobel Sustainability Trust (NST), founded by members of the Nobel Family, and SET3, the global investment group founded by Gordon Power and Stephen Lansdown, co-founder of Hargreaves Lansdown.
The Fund is backed by the Nobel Sustainability Fund (NSF) global group of funds which was launched in 2016, with backing from the Constitutional Reserve Fund of Monaco and the family office of Stephen Lansdown.
NSGF will make UK sustainable private equity investments to build technology, manufacturing, services and asset development businesses. The Fund will be managed by Sustainable Technology Investors Ltd., a specialist investment manager focused on backing management teams in developing sustainable businesses. The STIL team has a 30 year investment track record and has managed four previous sustainable funds.
The managers of the Fund evaluate sustainability using the Earth Dividend, a proprietary measure of sustainability in private equity, which is a clear assessment of sustainable development across five themes: Natural Resources, Ecosystem Services, Pollution, Social & Economic Contribution, Society & Governance.
Jim Totty and Nick Curtis, Managing Partners at STIL, say: “We are delighted to launch the Nobel Sustainability Growth Fund, in partnership with the Nobel Sustainability Trust®, and SET3. Having invested with four previous funds together and with a 30 year sustainable investment track record, we can offer institutional investors exposure to sustainable themes through an active, hands-on growth capital strategy.
“The UK continues to offer a strong pipeline of investments post Brexit. Sustainability, innovation and technology will continue to drive the UK economy over the next 10 years, as underlying economic and environmental drivers see institutional capital flows continue into the sustainable sector.”
Gordon Power, Chief Investment Officer of NSF, says:
“The UK is a core focus for NSF and the opportunities for dynamic entrepreneurial businesses have grown post Brexit. STIL team’s experience and track record makes it a strong platform to help institutions and families invest into these important business opportunities in the UK and investors benefit from the Group’s wider international expertise in sustainable investment.”
Prof. Michael Nobel, Chairman of the Nobel Sustainability Trust, says: “I am delighted with the launch of the Nobel Sustainability Growth Fund in the United Kingdom. The investment activities undertaken will drive forward the mission of Nobel Sustainability Trust® in areas such as sustainable energy, pollution and resources.”
Stephen Lansdown, Co-founder of Hargreaves Lansdown and SET3, says: “SET3’s investment programme into sustainability continues with the launch in the UK of the Nobel Sustainability Growth Fund. I see the UK as a long term entrepreneurial and innovative business environment and I am delighted to back our new sustainable fund investing in UK businesses.”
STIL is part of the SET3 global group of specialist fund management companies, with a successful track record of financing and accelerating the development of clean technologies, including around 200 investments with an IRR of 29 per cent.
The UK Fund will be followed by other regional funds around the world focused on resource efficiency, clean energy and sustainable technology. The SET3 group managers already manage USD1.1 billion; NSF is targeted to be more than USD500 million AUM globally with a target net IRR of 15 per cent to investors.
