Generation IM Raises Over $1 Billion for Sustainable Transformation-Focused Private Equity Fund

Generation Investment Management, a sustainability-focused investment firm chaired by former U.S. Vice President Al Gore, announced today the close of Sustainable Private Equity Fund II (SPEF II), raising more than $1 billion for the sustainable transformation-focused fund.

The fund is the second vehicle in Generation’s private equity strategy and targets investments in scaled, mission-critical businesses driving the sustainability transformation of their industries.

Tom Hodges, Co-Head of Private Equity at Generation Investment Management, said:

“Our goal with SPEF II is to partner with a select group of mission-driven business leaders to drive sustainability into the core of some of the world’s most important industries.”

The strategy invests through minority and majority ownership stakes in businesses that combine strong growth potential with the ability to drive sustainability outcomes at scale.

Generation said that SPEF II has made three investments to date, including energy company Octopus Energy, the leading UK energy supplier, technology platform Kraken Technologies, and enterprise software provider IFS.

The firm said that the new fund attracted participation from a diverse set of institutional investors with a far-reaching geographical spread, including strong support from longstanding partners.

Hodges added:

“Our latest fund reflects our firm and investors’ conviction in a long-held belief that transformation happens at the systems layer. The companies that operate as the backbones of their industries – running the workflows, the data and the distribution – are where sustainability is amplified and gets delivered at scale.”