Climate Change Capital PE arm spins out

The GP will continue to manage its only vehicle, which closed on €200m in 2007. The fund attracted commitments from AlpInvest, Robeco, HSBC, Universities Superannuation Scheme, Alliance Trust, Bankinter, Woelbern Group and Harcourt, among others.

Adaxia notably led an €8m round in French wastewater treatment company Orège in 2011, deploying €6m through its fund. Other portfolio companies include PowerPlus and Enecsys, in which the GP invested €11m in 2011.

The firm's strategy will remain unchanged, targeting expansion and buyout investments in European SMEs active in the resource efficiency sector.

The team will continue to be led by partners Alex Betts, Simon Drury and Bruno Derungs.

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• Climate Change Capital