In brief: KKR’s ESG advisor makes a splash in Australian market

ERM is acquiring Melbourne-based Point Advisory, a financial advisory focused on climate change and sustainability.

KKR-owned ESG consultancy ERM is expanding its footprint with a bet on Australia’s energy transition. ERM is acquiring Point Advisory, a Melbourne-based firm focused on climate change and sustainability, according to an article published by the Australian Financial Review. Last May, ERM changed hands: Canadian pension funds Ontario Municipal Employees Retirement System and the Alberta Investment Management Corporation sold it to KKR in a deal that valued the business at $2.85 billion, 19.6x EBITDA. Capital came from KKR’s “core private equity” funds as well as its balance sheet.