Deals

Private equity firm’s pursuit of UK waste management firm played out against backdrop of debt market volatility.

Lightrock and Verdane are investing private equity capital into the wind industry.

The firm has invested in DBE Energy, which produces renewable gas from organic waste.

JPMorgan Asset Management's sustainability focused private equity team, which was launched in January, has invested in a technology company for the mining industry.

Hycube provides renewable energy generation and storage products for homewoners.

As is often the case with investment initiatives in the rapidly evolving climate action space, the deal involves a wide cast of characters and a relatively unusual structure.

Nornorm, which has raised €110m from investors including Verdane's Idun impact fund, bases its business model on redeploying office furniture to reduce waste.

The coupon changes depending on the borrower's performance on water use, material waste and carbon emissions.

'This decarbonisation movement is truly the biggest generational opportunity for the infrastructure asset class that will be in front of us over the next couple of decades,' George Yong says.

The project aligns with NREP's target of becoming 100% carbon neutral by 2028, without external offsets.