Funds managed by Ares Management Corporation's European Direct Lending strategy are serving as the sole lenders of GBP1 billion of available debt facilities to the RSK Group (RSK), a UK-based privately-owned multi-disciplinary environmental business.
ESG & Responsible Investing
Almost four out of five (75 per cent) of LPs expect sustainability to drive investment decisions over next five years, while 66 per cent of LPs see value creation as a leading driver of ESG, according to new research from Manulife on how private equity relates to sustainable investing.
Vala Capital has invested in three fast-growth start-ups with sustainable strategies after successfully completing its first funding round for its new Sustainable Growth EIS. The company plans to raise GBP15 million for the sustainable EIS over the next two years and, having raised its target of GBP1.2 million for the first round, is due to embark on a second round of fundraising in September.
Impact technology company Diginex has closed a USD6 million Series A round led by Fitch Ventures, the equity investment arm of Fitch Group, bringing the total amount raised to over USD8 million.
Multi-family investment office Arete has expanded with the launch of Arete Zero Carbon aimed at helping businesses to achieve net zero carbon.
TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, has held the first close of USD5.4 billion in subscriptions to its inaugural fund.
Galway Sustainable Capital (GSC) has entered into a new, broad-based funding partnership with funds managed by Oaktree Capital Management, (Oaktree).
Standard Chartered Bank and ICG announce EUR1.45bn ESG-linked subscription facility for ICG Europe Fund VIII
Standard Chartered Bank and Intermediate Capital Group (ICG) have successfully closed an initial EUR1.45 billion ESG-linked subscription facility for ICG Europe Fund VIII. The lending group comprises Standard Chartered Bank, BNP Paribas, ANZ Banking Group Limited, ING Bank, and Royal Bank of Canada.
The majority (62 per cent) of GPs have declined to invest in a company due to ESG or ethical considerations in 2021, according to Investec’s annual GP Trends survey. Last year, this figure stood at 55 per cent, showing the continued and growing importance of ESG to GPs.
General Atlantic, a global growth equity firm, has announced the formation of BeyondNetZero (BnZ), a new venture targeting growth equity investments related to climate change. BnZ is being established in partnership with Lord (John) Browne of Madingley, Senior Advisor to General Atlantic, who will serve as Chairman of the venture. BnZ combines General Atlantic’s significant growth equity expertise, along with a new team of proven climate investors and industry executives, to create a unique capability to identify growth climate investment opportunities.