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Ontario Teachers’ acquires KKR’s GreenCollar stake

Ontario Teachers’ Pension Plan (Ontario Teachers’) has agreed a deal to acquire a stake in Australian environmental markets platform GreenCollar currently held by global private investment firm KKR and other shareholders.

Financial terms of the transaction have not been disclosed.

Ontario Teachers’ first became an investor in GreenCollar in March 2022 and, with the latest investment, will be the majority shareholder, with GreenCollar CEO and Co-founder James Schultz continuing to lead the business and remaining a significant shareholder.

The investments is being made via Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, and has significant experience investing in agriculture, aquaculture, timberland, and natural climate solutions, including in Australia where it has a large agriculture portfolio.

KKR first invested in GreenCollar in 2020 as part of its Global Impact strategy, which focuses on companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). As a certified B corporation and provider of environmental initiatives that reduce the impact of climate change, GreenCollar’s core business directly contributes toward SDG 13 (Climate Action) and supports other sustainable goals, including SDG 15 (Life on Land) and SDG 14 (Life Below Water).

The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals.

KKR was advised by Gilbert & Tobin and UBS. Ontario Teachers’ was advised by Baker & Mackenzie and EY.

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