New York-based investors form clean energy private equity fund

26 October 2009

A group of founding investors announced the formation of NewWorld Capital Group, a private equity firm based in New York. The fund will invest in mid-market companies and related infrastructure projects in the clean energy industry in the US and selectively in Europe.

The new fund will provide expansion capital to proven companies and clean infrastructure projects in collaboration with management teams, according to the firm

NewWorld Capital will work in close cooperation with Ambienta, a European environmental assets private equity firm based in Italy. The two firms said they intend to collaborate in sourcing and evaluating investment opportunities in each other’s market.

Everett Smith, founding partner, NewWorld Capital , said, ‘The environmental sector is large, growing rapidly and reflects less competitive intensity than most investment sectors. Our firm will provide expansion capital in the middle market- what is conventionally known as the period before companies and projects can command large amounts of institutional capital.’

Bradley Abelow, another founding partner, added, ‘The transition to a cleaner and less carbon intensive economy will continue to gather momentum whether or not congress acts this fall. The public demands it, businesses need regulatory certainty, and political leaders are beginning to realise the change has to come. More than 30 states already have renewable portfolio standards mandating clean energy.’

The firm’s founding partners also include Bradley Abelow, Bill Hallisey and Ali Iz.

Copyright © 2009 NewNet

Tags: private equity

This story was published on Monday, October 26th, 2009 at 7:04 pm and is filed under North America, funds. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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