Alpina Partners Fund LP (formerly Green Growth Fund 2)

United Kingdom

Last updated 12 May 2020, by Impactyield.

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Green Growth Fund 2 is raising €200 million with the same energy and resource efficiency investment strategy as Green Growth Fund 1, though Green Growth Fund 2 will aim for greater diversification and average deal size to eliminate co-dependency on co-investors other than LPs.

A first closing of €95 million was achieved in February 2014.

Green Growth Fund 2 will invest in 10 to 15 companies with an average investment of €12 to €15 million, including follow-on reserves. Fund 2 will target companies generating commercial revenues with strong continuing growth potential, breakeven if not profitable businesses and reasonable valuations.

A first close of Euro 95 million was achieved in February 2014.



Financial description

Green Growth Fund 2 will invest in profitable companies with strong growth prospects in the sectors described in the impact section of this profile. We favour businesses with the following characteristics:
o Experienced senior management
o High quality products
o Strong barriers to entry
o Significant revenues
o A defined route to market
o Rapid customer payback
o Not dependent on subsidies
o A defined exit strategy
o Strong ESG (environmental, social and governance) credentials
Green Growth Fund 2 will aim for majority ownership of investee businesses, and will be focused on growth capital though there is some flexibility to include small amount of replacement capital if necessary and appropriate. We expect to lead deals with trusted, value-adding, local PE partners outside the UK and Germany. Approximately 50% of Fund 2 will be invested in Germany, Austria and Switzerland.
WHEB Partners has a track record of investing at rational entry valuations. By avoiding over-valued market segments and competitive auctions, the probability of greater returns increases.

8 years

of track record

2014

the year funded

200,000,000 EUR

AUM

SDG goals

SDG targets

Substantially reduce waste generation

Improve water quality, wastewater treatment and safe reuse

Universal access to modern energy

Increase global percentage of renewable energy

Double the improvement in energy efficiency

Expand and upgrade energy services for developing countries

Key performance indicators

Fund overview

Asset manager: Alpina Partners

Product track record: Fund has 8 years of track record

Target IRR: 30%

Committed Capital: 95,000,000 EUR (Euro)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage:

Inception year: 2014

Vintage year: 2014

Target region: ,

Target close date: 01/12/2014

Product term: 10 year term

Assets under management: 200,000,000 EUR (Euro)

Investment size: Min: 12,000,000; Max: 15,000,000; Avg: 13,500,000

Co-investment policy: ,

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 1

Fund investments to date exited or repaid: 0

Management fee: 2%

Carried interest: 20%

Hurdle rate: 8%

GIIN Investors' Council Investment: No

Limited Partners / Investors: European Investment Fund (EIF), F&C Asset Managment, Access Capital Partners, British Business Bank, US and a variety of Europe and US based family offices.

Limited Partner / Investor Type: Family Office, Other Institutional Investors

Contact

E-mail: n.a.

Website: http://www.whebgroup.com/investment-strategies/private-equity/

Phone number: +44 203 219 3441

If you wish to have your details removed from this database please email gdpr@impactyield.com


Jade Summer

Investor Relations Manager

James McNaught-Davis

Managing Partner

Impact Performance

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n.a.

Impact thesis

As a specialist sustainability investment firm we are 100% focused on identifying and
investing in solutions to environmental and social challenges. We integrate ESG issues
into our investment analysis, decision-making processes, ownership policies and
practices and encourage appropriate disclosure on ESG issues by entities in which we
invest.
We consider ESG issues at all stages of the origination and due diligence process. To begin with, we only invest in companies that produce products or services that encourage the efficient use of energy and/or natural resources and promote the protection of the environment. Our standard term sheet includes a clause to ensure that the target business has appropriate environmental, social and corporate governance policies and management systems in place to fulfill our requirements as signatories of the UN Principles for Responsible Investment (UN PRI)”. We also ensure the term sheet includes clauses on the Board, accounting standards, and information disclosure and shareholder rights. During the detailed due diligence we address eighteen different ESG issues.

Impact Management

n.a.

Financial benchmark

Term Description:

Keywords

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