Earth Capital expects 2024 launch of new fund

The new fund will be the successor vehicle to the GP’s 2016-vintage vehicle, Nobel Sustainability Fund. It held a final close on GBP 241m in 2016 and invested in sustainable and renewable energy and other clean technologies, globally, according to Unquote Data.

The fund is now fully invested, said Bezuidenhoudt, and the GP is expecting to launch a new fund in about 18 months’ time.

The new fund is likely to raise a GBP 100m from similar LPs to the previous vehicle along with larger institutional investors such as pension funds and insurance companies.

The Nobel Sustainability Fund was backed by the Constitutional Reserve Fund of Monaco and the family office of Stephen Lansdown, among others, according to Unquote Data. 

Unlike its predecessor vehicle, and in a movement away from targeting big sites and energy generation, the new vehicle will hone the GP’s most recent investment strategy, she said.

The sustainable investing specialist is currently focused on its pre-fund co-investment syndicate strategy in the energy, food and water sectors. It is seeking technology enhancements that can take these investments into new markets, Bezuidenhoudt said. The GP is looking to invest more than GBP 5m per deal with GBP 1m of existing funds along with a syndicate of family offices, UHNWIs, fund of funds and sovereign wealth funds.

Earth Capital currently has a couple of these co-investments in its portfolio and has another couple under discussion, she added.

Founded in 2008, Earth Capital focuses on sustainable investments. According to the firm's website, it manages USD 1.7bn in sustainable PE assets, including through its associate companies Sustainable Development Capital and Berkeley Energy.

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