Clean Energy Finance Corporation makes first private equity investment
Herbert Smith Freehills has advised Clean Energy Finance Corporation on the group’s first investment in private equity.
Firm: Herbert Smith Freehills (Clean Energy Finance Corporation)
Deal: Clean Energy Finance Corporation has made the investment in the Adamantem Capital Fund II.
Value: $80 million.
Area: Private equity.
Key players: The Herbert Smith Freehills team was led by partner Fiona Smedley and senior associate Yorick Ng.
Deal significance: A statement from HSF confirmed that the fund will establish an emissions reduction committee that will work with the CEFC to develop and oversee the emissions reduction pathways of the fund’s portfolio companies.
“The $700 million-plus fund targets mid-market companies, with a focus on consumer staples, healthcare and business-to-business services. This investment enables the CEFC to bring focus to the sustainability profile of a significant part of the Australian economy,” the statement noted.
Commenting further, Mr Ng said: “Congratulations to the CEFC on this landmark investment. The CEFC’s investment in the Adamantem Capital Fund II marks yet another success for the CEFC towards achieving emissions reduction across Australia’s economy.”
“We are proud to have facilitated the CEFC’s first investment in private equity and look forward to continuing to assist the CEFC to achieve its goals.”
Ms Smedley added: “We are delighted to continue our collaborative relationship with the CEFC. We are so proud to have worked with the CEFC on this matter and to have been part of a transaction that drives emissions reduction in the Australian economy.”