GEF Capital Partners – one of the oldest impact firms in private equity – has raised $275.9 million for its second flagship Climate Solutions fund. The firm has not publicly announced a fundraising target for Climate Solutions II. It has been in market for over two years, having launched in 2021, a regulatory filing shows.
GEF, previously known as Global Environment Fund, was established in 1990. It makes growth investments in the energy, resource efficiency and environmental preservation sectors, and prioritises asset-light, capital-light businesses globally.
GEF is also pursuing several other strategies, New Private Markets’ database shows. It is in market with a North America-focused digital infrastructure fund, a South Asia-focused climate growth fund with a $300 million target, and a water fund.
The firm operates in emerging and developed markets and has offices in Arlington, Virginia; Mumbai, India; and Sao Paulo, Brazil.
GEF did not respond to requests for comment prior to publication.