Abu Dhabi Catalyst Partners, a leading asset manager mandated to support the development of Abu Dhabi Global Market, today announced its partnership with Vortex Energy, a global renewable energy platform managed by the private equity arm of EFG Hermes.
The new partnership reiterates Abu Dhabi Catalyst Partners’ commitment to the development of the sustainable finance ecosystem from its headquarters at ADGM.
Vortex Energy has recently reached its first close of US$ 200 million (including a conditional $25 million commitment) for its fourth fund, “Vortex Energy IV”. With a target size of US$ 750m, the fund will focus on investment opportunities arising from the global transition to clean energy generation and net-zero carbon emissions. Investments will include energy generation – such as solar photovoltaics, on and offshore wind, hydropower, biomass and distributed generation technologies – storage, electric vehicle charging facilities and broader energy services. The fund will target investment opportunities across the asset lifecycle, from greenfield capacity development to operational portfolios, with a geographic focus on Europe, North America, Latin America and Australia.
James Munce, CEO of Abu Dhabi Catalyst Partners, said: “In a world rallying to solve the climate change conundrum, sustainable finance is a critical enabler of economic and environmental longevity. We believe the asset management industry can play a significant role in fueling the transition to a greener future. Abu Dhabi Catalyst Partners is proud to partner with Vortex Energy and its team which has an established track record in the sector, and which will contribute a range of professional skills, technical expertise and strategic relationships to the ADGM ecosystem”.
Karim Moussa, Head of Private Equity and Asset Management at EFG Hermes and CEO of Vortex Energy, said: “We are extremely delighted to have Abu Dhabi Catalyst Partners as an anchor investor in Vortex Energy IV. Our partnership is based on the joint mission to identify and leverage attractive investment opportunities which will help companies and countries progress towards net-zero emissions targets. We are also honoured to be part of ADGM, a pioneer of sustainable finance and a prominent hub for investment managers, and look forward to writing the next chapter of our story here in Abu Dhabi.”
Founded in 2019, Abu Dhabi Catalyst Partners has an international, sector-agnostic investment mandate committed to investing in companies and asset managers who would benefit from establishing a strategic presence ADGM. Abu Dhabi Catalyst Partners is a joint venture between Mubadala and Falcon Edge Capital and has entered into 20 strategic partnerships since inception.
Vortex Energy was established in 2015 as an investment platform sponsored by the Private Equity arm of EFG Hermes, via Luxembourg-based Beaufort Investments, to pursue renewable energy investments globally.
As of the end of 2020, Vortex Energy had aggregated, managed, optimised and divested an 822MW portfolio of European wind and solar assets through various investments, amounting to approximately EUR 1.3 billion in AUM spanning the UK, Spain, France, Portugal and Belgium.
Abu Dhabi Catalyst Partners was established in April 2019 as a US$1 billion joint venture between Mubadala Investment Company and Falcon Edge Capital, a New York-based investment company. Abu Dhabi Catalyst Partners’ investment mandate is to partner with top-tier investment firms and industry leading businesses that would benefit from developing a meaningful and sustainable presence in the ADGM. With a sector-agnostic investment strategy, the company seeks to contribute to the economic diversification of the Abu Dhabi economy and has entered into 20 strategic partnerships since inception.
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