In brief: Urban sustainability investment group adds PE capability

Urban Partners, a group of private markets firms committed to investing in a sustainable urban environment, has added private equity capability to its group by launching Luma Equity, according to a press release. Here’s what we know so far:

• Mikkel Bulow-Lehnsby, Urban Partners chairperson and co-founder, was one of the founders of real estate manager NREP in 2005. He then co-founded venture capital firm 2150 three years ago, and Velo Capital was later launched as a private credit platform. The group has now established Luma as a private equity offering, and brought the four companies together under the Urban Partners umbrella.
• Urban Partners does not have its own pool of capital, nor its own offices. Investments will be made from funds managed by the four constituent companies. The group has €5 billion “available to invest today” in total, per the press release.
• The leadership of Urban Partners includes NREP CEO Claus Mathisen and head of global markets Jens Stender, who act as co-CEOs. The investment teams sit within each of the constituent companies, rather than Urban Partners itself, 2150 managing partner Christian Hernandez told New Private Markets.
• Urban Partners has called on the investment industry to “radically change their approach to investment and how returns are measured” in relation to the urban environment. The firm invests in “constructive capital”, meaning that returns are measured “alongside impact”, Hernandez explained.