Climate Change Capital’s private equity fund management team, CPE, is spinning out from the CCC group to form Adaxia Capital Partners LLP (“Adaxia”). The team will continue to manage the €200 million fund established in 2007, which is backed by institutional investors such as Alpinvest, Robeco, USS and Alliance Trust. The fund invests expansion and buy-out capital in SMEs operating in the Resource Efficiency sector across Europe and will operate under the Adaxia name.
Adaxia partner, Alex Betts, who has headed the team since inception in 2007 with partners Simon Drury and Bruno Derungs, said: “It is business as usual for our team as we continue to focus on delivering value to investors in our present fund and we look forward to growing our Resource Efficiency investment business.”
Eric Alsembach, the chief executive of Climate Change Capital, a wholly owned subsidiary of Bunge Ltd, said: “We are pleased to have reached an agreement with the new partners of Adaxia and wish them all the best.”
Climate Change Capital
Climate Change Capital Limited (CCC) is an environmental asset management and advisory group. It advises and invests in companies driven by the financial rewards associated with a low carbon economy. CCC is a Bunge Limited company and is part of the Bunge Asset Management group. Bunge [NYSE: BG] is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. Founded in 1818, the company is headquartered in White Plains, New York.
Adaxia Capital Partners LLP
Adaxia is a limited liability partnership authorized and regulated by the Financial Conduct Authority. Adaxia has been established by Alex Betts, Bruno Derungs and Simon Drury, who have led the management of CCC’s private equity fund of €200m since inception in 2007. This fund has invested in the Resource Efficiency sector across Europe and current portfolio companies include PowerPlus Communications, Mannheim based provider of broadband over powerline solutions, Climate Energy Group, one of the UK’s leading independent providers of energy efficiency services to the residential market, and Nualight, the Irish LED lighting company. The Adaxia senior investment team also includes Thomas Skovbjerg, James Hook, Franco Hauri and Jeremy Gough, who have worked together since 2007/8. The Adaxia team has 100 years of cumulative investment experience in private equity. Collectively they have invested in 69 companies over the course of their careers, including 11 within CPE, investing c. €1.7bn in capital; of these investments, 54 have been realised.