Magnesium Capital closes oversubscribed inaugural Fund at €135m hard cap
April 16 2024 - 3:32AM
Business Wire
Magnesium Capital, the Energy Transition buyout specialist, is
delighted to announce the successful close of its inaugural Fund,
Magnesium Capital I, at its hard cap of €135m, exceeding the €100m
Fund target. The final close occurred less than a year after the
Fund’s first close with Magnesium attracting blue-clip
institutional investors from the US, Europe and the UK.
Magnesium focuses on profitable European companies with proven
technologies or tech-enabled services that are positively impacting
the decarbonisation of the production, distribution and consumption
of energy. The team has been backing the buyouts of such businesses
for a number of years on a direct deal basis. Since inception,
Magnesium has completed seven platform investments, signed six
follow-on acquisitions and exited two investments for 4.2x gross
MOIC. The combined impact of these portfolio companies already
directly contributes to the avoidance of over 30 million tonnes of
CO2 equivalent per annum.
Ian Jones, Managing Partner, commented: “Magnesium’s distinctive
investment strategy, reputation for adding value by working closely
with management teams, and the positive environmental impact of our
portfolio companies, generated considerable investor interest
resulting in the Fund being significantly over-subscribed.”
Matts Lundgren, Managing Partner, commented: “We are grateful
for the support of our long-standing investors and also to our new
limited partners for their belief in our strategy and our team.
With the support of our impressive roster of investors, we now have
access to deep pools of capital to continue developing and
executing on our differentiated pipeline of opportunities to
support the growth and development of companies poised to make a
major contribution to the decarbonisation of our energy
system.”
Triago served as exclusive global placement agent, Simpson
Thacher & Bartlett as legal counsel and PricewaterhouseCoopers
as tax advisors.
About Magnesium Capital
Magnesium Capital LLP is a private equity firm specialising in
buyouts of high growth, profitable businesses that support the
energy transition. It invests throughout Europe and the UK. It
likes to partner with entrepreneurial management teams and support
them on their next stage of growth. Magnesium looks for businesses
with certain competitive advantages in their core technology or
tech-led service that have a positive impact on the way we either
produce, distribute, or consume energy. Magnesium takes controlling
stakes in each of its investments, but considers significant
minority positions in certain circumstances. Magnesium is based in
London, United Kingdom.
https://www.magnesiumcapital.com/
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Ian Jones, Managing Partner admin@magnesiumcapital.com