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The firm has hired Anish Patel from Kerogen Capital, as first reported by Bloomberg.
Asset owners and their investment partners have begun in earnest to invest in climate solutions; are they missing a piece of the puzzle?
Private capital has started flowing towards climate finance but is unevenly spread across strategies and sectors, leaving a growth equity 'missing middle', finds a research report by CREO.
The firm has tweaked the branding compared with its previous fund, but the investment thesis remains the same, according to head of private equity impact Rekha Unnithan.
Public equity investments comprise the majority of CalPERS' commitments so far.
A handful of private equity firms have set portfolio-wide net-zero targets, although many firms consider this too ambitious or too sweeping. Bain's approach can be seen as a middle ground.
The real estate firm has acquired a London retail park and plans to make a number of sustainability improvements.
If 20% of expected climate investment is accounted for by private markets, TPG executive chairman Jim Coulter says, 'spending... will be bigger than the entire private equity industry is today'.
'With a larger share of their wallet in cash or public equity that trades at all-time highs, they have ample liquidity to commit to private equity', says co-founder and CEO Jacqueline van den Ende.
Massachusetts-based fund manager the Engine Ventures looks to scale 'tough tech' that positively contributes to climate and health.