Climate Change Capital’s commercial property fund has reached its first close after raising more than GBP50m from investors including Dundee-based Alliance Trust, Dutch banking and insuran
Climate Change Capital’s commercial property fund has reached its first close after raising more than GBP50m from investors including Dundee-based Alliance Trust, Dutch banking and insurance group SNS Reaal, Australia’s IAG and UK property company Stanhope.
The fund managers, Tim Mockett and Esme Lowe, expect up to half of the investment from the fund going into south-east England, with the emphasis being placed on retro-fitting existing buildings, reflecting the fact that only 2 per cent of the commercial property stock in the UK is new every year.
The fund managers predict that a two-tier market will emerge with future-proofed energy-efficient buildings likely to outperform obsolete buildings that run the risk of being downgraded in value.
Climate Change Capital Group is an investment manager and advisor specialising in the opportunities created by the transition to the low-carbon economy. It develops and manages funds with EUR800m under management that invest in greenhouse gas reduction projects and their underlying assets, primarily in the developing world, and in companies that provide technologies or services facilitating greenhouse gas reductions.
The firm also manages the Ventus group of listed venture capital trusts and the Climate Change Capital Private Equity Fund, which have together more than EUR250m for investment in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation. Climate Change Capital also provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.
