UAE - Mubasher: Abu Dhabi Catalyst Partners has partnered with Vortex Energy, a renewable energy platform managed by the private equity arm of EFG Hermes, to develop a sustainable finance ecosystem.
Under the partnership, Vortex Energy will establish its new renewables investment platform at the Abu Dhabi Global Markets (ADGM) where Abu Dhabi Catalyst Partners is headquartered, according to a press release on Wednesday.
Vortex Energy has achieved its first close of $200 million for its fourth fund, Vortex Energy IV, which will focus on the transition to clean energy generation and net-zero carbon emissions.
The investments of the fund, with a target size of $750 million, will include opportunities across the asset lifecycle from greenfield capacity development to operational portfolios in Europe, North America, Latin America, and Australia.
Since its launch in 2019, Abu Dhabi Catalyst Partners, a joint venture between Mubadala and Falcon Edge Capital, has entered into 20 strategic partnerships.
The CEO of Abu Dhabi Catalyst Partners, James Munce, 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."
Meanwhile, the Head of Private Equity and Asset Management at EFG Hermes and CEO of Vortex Energy, Karim Moussa, commented: "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."
