Abu Dhabi Catalyst Partners, an asset management fund commissioned to support the development of the Abu Dhabi Global Market, announced yesterday a partnership agreement with Vortex Energy, an investment in renewable energy managed by the private equity arm of EFG Hermes.
The new partnership confirms the commitment of “Abu Dhabi Catalyst Partners” to contribute to the development of the sustainable and fast-growing financial sector, from its headquarters located in the Abu Dhabi Global Market.
Vortex Energy recently reached its first close of $200 million, which includes a conditional commitment of $25 million to its fourth fund, Vortex Energy IV. With a target size of $750 million, the fund will focus on investment opportunities arising from the world’s shift to clean, carbon-neutral energy generation solutions.
The investments will include power generation such as solar photovoltaics, onshore and offshore wind energy, hydropower, and biomass, as well as distributed generation technologies, storage, electric vehicle charging facilities, and broader services in Taqa.
The fund will target investment opportunities across the asset lifecycle, from capacity development in new areas to operating portfolios, with a geographical focus on Europe, North America, Latin America and Australia.
sustainable financing
James Muncie, CEO of Abu Dhabi Catalyst Partners, said: “As part of the global effort to solve climate change, sustainable finance is an important factor in economic and environmental empowerment. At Abu Dhabi Catalyst Partners, we believe that the asset industry can play an important role in driving the transition to a cleaner and greener future.
He added, “We are proud of our partnership with Vortex Energy and trust its team, which has a proven track record in this sector, as it will contribute a range of professional skills and technical expertise, and its strategic relationships in the interest of the Abu Dhabi Global Market ecosystem.”
investment opportunities
Karim Moussa, Head of Private Equity and Asset Management at EFG Hermes and CEO of Vortex Energy, said: “We are delighted to have Abu Dhabi Catalyst Partners as a major investor in Vortex Energy IV.
Our partnership is based on the shared mission of identifying and capitalizing on attractive investment opportunities that will positively impact the world. As countries progress toward achieving their carbon-neutral goals, our fund will enable renewable energy plans to be realized.
He concluded: “We are honored to be part of ADGM’s pioneering sustainable finance, which is a key hub for investment managers, and we look forward to taking our first steps in the next chapter of our career here in Abu Dhabi.”
Founded in 2019, Abu Dhabi Catalyst Partners has a broad, sector-neutral investment mandate and is responsible for investing in companies and asset managers, who will benefit from establishing a strategic presence in the ADGM. Abu Dhabi Catalyst Partners is a joint venture between Mubadala and Falcon Edge Capital and has entered into 20 strategic partnerships since its inception.
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