The firm – which has offices in Chicago, Miami, and San Francisco – announced the completion of fundraising for three new buyout funds, with total capital commitments coming in at USD32.4 billion.

The three new funds are: Thoma Bravo XV Fund, which closed at USD24.3 billion and is the largest tech fund yet raised; Thoma Bravo Discover Fund IV, a USD 6.2 billion fund focused on middle-market equity investments; and Thoma Bravo Explore Fund II, a USD1.8 billion fund which will target lower middle-market investments.

In a statement, the firm said that all three funds had surpassed their fundraise targets, demonstrating “the strong support by Thoma Bravo’s diverse network of investors for the firm’s buyout strategies”.

“We are honoured and grateful for the close partnership formed with our long-term investors, and humbled by their continued support of our organisation,” said Orlando Bravo, founder and managing partner at Thoma Bravo. 

“This fundraise will enable us to further our strategy of collaborating with management teams to build leading software companies. Having invested in more than 400 companies, we have seen first-hand how our partnership with management teams can turn great innovators into great companies, yielding fantastic results.”

The firm said investments in the funds will follow Thoma Bravo’s established strategy and partnership-driven approach of applying operational and sector expertise to investments across healthcare IT, security, financial technology, infrastructure, and applications.

“We are energised by our investors’ strong support of the largest fundraise in Thoma Bravo’s history, and of the largest tech fund ever raised, all against the backdrop of a challenging economic and geopolitical environment,” said Jennifer James, managing director, chief operating officer, and head of investor relations and marketing. “We thank our investors for their continued confidence.”

Thoma Bravo said it has had an active year on both the buy and sell side, with buyout fund investments and realisations representing approximately USD38 billion in combined enterprise value. 

The firm’s buyout funds have invested in more than 400 software companies, and the group’s software portfolio includes over 55 companies that generate approximately USD20 billion of annual revenue and employ over 75,000 staff globally.

The firm said commitments to the funds were secured from its broad network of investors, including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, funds-of-funds, endowments, foundations, and family offices.

Thoma Bravo is one of the largest private equity firms in the world, with more than USD120 billion in assets under management as of the end of September. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Over the past 20 years, the firm has acquired or invested in more than 420 companies representing over USD235 billion in enterprise value. 

The liquidity and solvency crunch that engulfed FTX in the last few days came only a year after the group raised USD420 million in a fundraising that valued the firm at USD25 billion.

Among the group of 69 investors that backed that financing were big-name institutions such as Singapore’s state-owned investment firm Temasek, Ontario Teachers’ Pension Plan, BlackRock, Softbank, Tiger Global, and renowned Silicon Valley venture capital firm Sequoia Capital. A subsequent financing round in January this year valued FTX even higher, at USD32 billion.

FTX had been urgently trying to line up support for a rescue package from potential saviours including some of its institutional supporters, after rival exchange Binance pulled out of an earlier agreement to buy the business less than 48 hours after the bail-out deal had been announced. 

But efforts to raise the billions of dollars required to stabilise the business came to nothing, with FTX filing for bankruptcy on Friday and founder Bankman-Fried resigning as CEO. 

Some industry observers are characterising FTX’s collapse as the crypto industry’s ‘Lehman moment’, predicting that it will cause a significant reversal in the institutionalisation of the digital asset markets.

Sequoia had already written down its USD215 million investments in FTX to zero following Binance’s withdrawal – with a Twitter message from the firm to its LP investors pointing out that “we are in the business of taking risk”.

Ontario Teachers – which invested around USD100 million in the FTX International global exchange and its US entity, FTX.US, as part of the October 2021 and January 2022 fundraisings – said in a statement that its total exposure to FTX represented a fraction of the overall plan’s total net assets.

“These investments were made through our Teachers’ Venture Growth (TVG) platform, alongside a number of global investors, to gain small-scale exposure to an emerging area in the financial technology sector,” the statement said.

It added: “TVG was established in 2019 to invest in emerging technology companies raising late-stage venture and growth capital. TVG’s investments are structured to provide Ontario Teachers’ with returns commensurate with the risk undertaken and to provide proprietary insights that inform investing elsewhere across the Plan.” 

“Naturally, not all of the investments in this early-stage asset class perform to expectations. However since inception, TVG has delivered solidly on intended objectives. While there is uncertainty about the future of FTX, any financial loss on this investment will have limited impact on the Plan, given this investment represents less than 0.05 per cent of our total net assets.”

Other high-profile investors in FTX include feted hedge fund managers Alan Howard, Paul Tudor Jones, and Izzy Englander – while FTX Ventures, the venture capital arm of FTX, recently bought a 30 per cent stake in Anthony Scaramucci’s Skybridge Capital alternative investment firm, which has been hit hard in recent months by its heavy exposure to bitcoin and other crypto assets.

According to the firm the fund, which drew participation from institutions, foundations, and endowments across Europe, North America, and Asia-Pacific, will make investments of EUR1-50 million in founder-led start-ups that are “using technology to try and solve some of the biggest challenges facing society”.

In a statement, EQT said the focus would be on sectors such as climate tech, food tech, the creator economy, energy, fintech, software, data and IT infrastructure, and deep tech.

“Taking place during a time of market uncertainty, the successful fundraise is evidence that investors still have an appetite for early-stage technology focused funds despite the challenging macroeconomic environment,” said EQT.

The new fund brings total commitments raised across the EQT venture capital fund platform to EUR2.3 billion since launching in 2016. The EQT Ventures funds have completed more than 100 investments in portfolio companies across 16 different geographies – including nine that have reached ‘unicorn’ status with a valuation of over EUR1 billion – and I8 of those investments have been excited. EQT Ventures III has already led investments in 13 companies.

The EUR1.1 billion close of the new fund follows the recent close of the EQT Growth fund, which raised EUR2.4 billion in total commitments. Although EQT Ventures and EQT Growth are both focused on investing in high-growth private tech companies, they are run as two separate business divisions – with separate funds and advisory teams. 

While EQT Ventures make initial investments in start-ups of up to EUR50 million, EQT Growth focuses on initial investments of between EUR50-200 million at later stages of companies’ growth journeys.

“Coming shortly after the close of EQT Growth, EQT Ventures’ successful fundraise is a real vote of confidence in EQT’s active ownership approach to investing,” said Per Franzen, head of private capital and deputy managing partner at EQT. 

“The capital raised across both funds means EQT has now raised new commitments of EUR3.5 billion to private market tech, consolidating our position as one of the world’s largest tech investors.”

The tech sector has been hammered in recent months – with shares in Facebook parent Meta falling by over 70 per cent this year, and other tech titans such as Alphabet/Google, Microsoft, Amazon, and Tesla also seeing hefty valuation falls amid the worsening market and economic climate.

“Now is the time to back category leaders, those driving innovation to change the world for the better,” said EQT Ventures partner Alastair Mitchell. “EQT Ventures was set up to give founders the best chance of reaching scale, irrespective of the macroeconomic climate.”

With offices in Stockholm, London, San Francisco, Berlin, and Paris, EQT Ventures’ funds are advised by over 40 founders and operators. “We’re a team that have weathered cycles and have experience creating global businesses,” added Mitchell.

EQT said the fund’s portfolio team would be assisted by the group’s proprietary AI market intelligence tool, EQT Motherbrain – which is used to source investment opportunities, and which also provides market intelligence to founders in EQT Ventures’ portfolio companies.

In the latest expansion by a big traditional asset manager into the private capital market, Nuveen is buying a controlling interest in Arcmont – a pioneer of the European private debt market, which has grown since its inception in 2011 to manage over USD20 billion in committed capital and provide financing solutions across a wide range of companies, industries, and markets.

The acquisition will expand Nuveen’s private capital reach into Europe, complementing its North American private debt and private equity investment specialist Churchill Asset Management – which manages more than USD40 billion in capital, providing customised financing solutions to middle market private equity firms and their portfolio companies across the capital structure.

Originally set up as the private debt business of credit investment firm BlueBay Asset Management, Arcmont – headed by CEO Anthony Fobel – subsequently became an independent employee-owned firm, with a minority stake held by Dyal Capital Partners that will be acquired by Nuveen as part of the deal. Nuveen is reported to be paying over USD1 billion for the acquisition.

“Arcmont provides Nuveen with a transformational opportunity to significantly expand our position in one of the world’s most dynamic investment markets and strengthen our focus on meeting the increasingly complex capital needs of clients globally,” says Jose Minaya, Nuveen’s CEO. 

Since its inception, Arcmont has raised more than USD26 billion of capital from more than 350 blue-chip investors and has committed over USD20 billion to 270 transactions across Europe. With around 100 employees across six offices in Europe, the firm combines pan-European origination capabilities with long-standing relationships among private equity firms, corporates, and advisers. 

“We are delighted to join Nuveen, which offers Arcmont an optimal partnership to grow our existing business model, as well as to invest in complementary adjacent strategies, leveraging Nuveen’s considerable expertise and distribution capabilities,” said Arcmont CEO Fobel. 

“Drawing on the strengths of the enlarged group, we expect to extend our market position in our core business of upper middle market lending in Europe. We look forward to working closely with our new partners and expanding together into new strategies and complementary products across geographies.”

In an internal note announcing what he described as “an exciting and very important strategic step forward for Arcmont”, Fobel pointed out that the deal will give the firm access to Nuveen’s distribution and capital – noting that TIAA is the world’s largest allocator to private debt and has made multi-billion dollar commitments to Churchill’s funds.

“We are very excited to partner with Arcmont, a recognized leader in the European debt market, to build upon our position as one of the leading private capital providers in the US,” said Ken Kencel, president and CEO of Churchill.

“Together our two firms can provide our private equity clients with scaled and integrated financing solutions and our investors with access to a broader array of attractive investment opportunities from a best-in-class global private capital platform.” 

Both Arcmont and Churchill will continue to operate under their respective names and brands and will continue to be led by their own respective leaderships, with no change to their respective investment teams or processes. 

But the two firms will also come together to form a new entity Nuveen Private Capital, with Kencel and Fobel acting as co-CEOs and reporting to William Huffman, head of Nuveen equity and fixed income who will also serve as chairman of the new Nuveen Private Capital operation.

With more than 240 investment and support professionals, Arcmont and Churchill serve a combined investor base of some 600 institutional and family office investors – while Nuveen Private Capital will become one of the world’s largest private debt managers, with more than USD60 billion of committed capital.

“Scale is a significant differentiator in private capital fundraising and deployment, so our complementary capabilities will greatly benefit from a more diversified set of limited partners, enhancing our ability to raise capital – and also accelerating our growth across the entire private debt market,” said Minaya.

With global macro-economic headwinds likely to result in continued volatility in the liquid public markets, the largest private debt managers are expected to benefit from the strong growth trajectory of the asset class, which is an effective alternative source of financing for blue-chip borrowers in Europe and North America. 

As private debt has continued to experience rapid growth, reaching a record USD1.4 trillion in AUM globally in 2022, more and more institutional investors are allocating to alternative credit as an attractive and increasingly diverse asset class. 

In a statement, Nuveen said the growing importance of alternative credit in institutional portfolios was evident in its 2022 global EQuilibrium survey of 800 institutional investors and consultants, which revealed that three-quarters of investors are planning to expand their reach for yield over the next two years, with the vast majority looking to increase their exposure to alternative credit. 

The group’s Q3 trading statement shows Man’s total assets under management falling by some 3 per cent over the quarter to USD138.4 billion, from USD142.3 billion at the end of June – and from a high of USD151.4 billion at the end of Q1 2022.

Net inflows into alternatives of USD900 million was outweighed by USD1.4 billion of long-only outflows to give overall net outflows of USD500 million – while investment performance gains of USD1.5 billion from alternatives, during what the group described as “a very difficult quarter for the asset management industry”, just failed to compensate for the USD1.7 billion of long-only losses sustained in a period of extreme market turbulence.

Significant negative FX impact of USD4.5 billion in Q3 – largely due to the strength of the US dollar in recent months – contributed to an overall drop in AUM of USD3.9 billion. But the fall was concentrated entirely on the long-only side, with long-only assets falling by almost USD5 billion in the quarter, while alternative assets rose by USD1 billion.

Net inflows of USD900 million into alternatives resulted from strong flows of some USD3.4 billion into the firm’s multi-manager solutions offerings, notably into infrastructure and direct access products – with multi-manager AUM rising to just under USD20 billion as at the end of September.

The substantial outperformance by the group’s alternative strategies has led to a significant rebalancing in overall assets under management. As at the end of Q3, alternatives – comprising absolute return, total return, and multi-manager – accounted for more than 70 percent of firmwide AUM, up from 62 per cent at the start of this year.

The performance of alternatives, both in the last quarter and for the year to date, stand in stark contrast to the losses in long-only – with the group’s AHL systematic managed futures strategy leading the way.

In the three months through the end of September, AHL Dimension, AHL Diversified, and AHL Alpha were up by 6.2 per cent, 5.2 per cent and 3.7 per cent – giving respective year-to-date gains of 12.7 per cent, 23.2 per cent and 12.7 per cent.

By contrast, the group’s systematic and discretionary long-only products have taken a pounding in the increasingly dire market conditions – with year-to-date falls of 27.2 per cent for GLG Continental European Growth, 26.5 per cent for Numeric Emerging Markets Core, 23.1 per cent for Numeric Global Core and 19.7 per cent for Numeric Europe Core.

Despite the poor performance of many hedge funds this year – especially in equity-focused strategies – Man Group’s FRM multi-manager operation has navigated the challenging market environment to good effect.

To the end of September, the group’s flagship FRM Diversified multi-manager fund was showing a positive return of over 2 per cent – compared with a loss for the year of almost 5 per cent in the HFRX Global Hedge Funds Index and a year-to-date drop of nearly 20 per cent for the HFRI Equity Hedge Index.

The world’s largest asset manager reported USD65 billion of long-term net inflows in the third quarter – with total net inflows of USD17 billion reflecting outflows from cash management and advisory AUM.

Total AUM dipped below USD8 trillion as at the end of September – a fall of USD1.5 trillion, or 16 per cent, from their level of USD9.5 trillion 12 months ago at the end of Q3 2021 – down from USD8.5 trillion at the end of Q2 and a peak of USD10 trillion at the start of this year.

For the year to date, BlackRock has generated long-term net investor inflows of almost USD250 billion in the face of the increasingly difficult market and economic conditions – with institutional and ETF inflows leading the way.

However, the changed market and macro environment has taken its toll on the firm’s financial results – with revenue, operating income, net income, and earnings per share suffering year-on-year falls of 15 per cent, 21 per cent, 16 per cent, and 15 per cent respectively.

“The power of our diversified platform is most evident in times of uncertainty, and clients are turning to us more than ever,” said BlackRock chairman and CEO Larry Fink in a statement.

“We once again saw strong growth in bond ETFs, with USD37 billion of net inflows. Active strategies reflected momentum from significant outsourcing mandates and continued demand for alternatives, where we raised USD8 billion across commitments and net inflows.”

As at the end of September, ETFs accounted for 33 per cent of the firm’s AUM. Active and index institutional products represented 48 per cent, with retail and cash management comprising around 10 per cent each,

Despite the continued growth in both illiquid and liquid alternative products to more than USD250 billion as at the end of the third quarter, alternatives only represent some 3 per cent of BlackRock’s overall assets under management. 

“Our wide range of investment offerings, leading technology platform, whole portfolio approach and global insights are resonating deeply as clients seek partners to help them build stronger, more resilient portfolios that meet their long-term investment goals,” said Fink.

With the dollar strengthening dramatically and US equities falling sharply amid increasingly aggressive Fed rate-tightening in a bid to tame inflation, and the UK pound and government bonds tumbling on the back of the government’s calamitous ‘mini-budget’, CTAs and other macro hedge funds have generated some eye-catching performance.

Hedge fund research firm HFR’s HFRI 500 Macro Systematic Diversified Index soared by 4.4 per cent in September, while the investable HFRI Macro Index was up by 2.75 per cent on the month to take its year-to-date performance after the first three quarters to 17.45 per cent.

To the end of September, the HFRI 500 Macro Commodity Index is up by 43.9 per cent – while the HFRI Macro Systematic Diversified Index is up by 22.7 per cent to the end of Q3.

“Financial market volatility accelerated in September, with the additional catalyst of dislocations in the currency markets adding to continued equity market declines, rising interest rates, and generational inflation,” said Kenneth Heinz, president of HFR. 

“Through the first three quarters of 2022, macro hedge funds opportunistically navigated the volatility surge to extend record outperformance of equity markets, while the overall hedge fund industry produced the strongest outperformance of equity markets in 20 years.” 

Figures from other index providers – such as Société Générale, a leading prime broker to CTAs – underline the dramatic gains made by systematic trend-following funds this year. The SG CTA Index is up by 27.74 per cent for the year, while the SG Trend Index is showing a gain of 36.99 per cent.

“Currency-focused and quantitative, trend-following CTA strategies led performance as interest rates increased and the US dollar surged against the euro, yen and sterling,” said Heinz. “Macroeconomic and geopolitical risks continue to accelerate into year-end and are expected to drive extreme volatility and the potential for destabilising dislocations.” 

While CTA and macro funds have thrived amid the escalating volatility, other hedge fund strategies have suffered. The HFRI Equity Hedge Index fell by more than 4 per cent in September and is now down by almost 14 per cent for the year.

Overall the HFRI Fund Weighted Composite Index is down by just over 6 per cent for the year – although the strong outperformance this year by larger hedge funds is reflected in the fact that the HFRI Asset Weighted Composite Index, which is biased towards big funds, is up by almost 4 per cent to the end of Q3.

According to HFR, the extreme dispersion of hedge fund performance so far this year widened in September, as the top decile of the HFRI constituents advanced by an average of +6.4 per cent, while the bottom decile fell by an average of -14.3 per cent, representing a top/bottom dispersion of 20.7 percent

Through the first nine months of the year, the top decile of the HFRI has gained an average of +38.0 per cent, while the bottom decile has declined by an average of -35.3 per cent, giving a dispersion of 73.3 per cent. 

The GBP2.36 billion net monthly outflow beat the previous record set in August by more than 20 per cent and takes the net flight of UK investors from equity funds to GBP6.63 billion since the bear market began in January.

During the third quarter, the outflow reached UKP4.70 billion – comfortably more than in the whole of 2016, which was previously the worst year in Calastone’s eight-year record of monitoring investor fund flows.

Investors continued to pummel funds focused on UK equities. These saw net selling of UKP694 million – the sixteenth consecutive month of net outflows, a longer stretch than for any other major equity fund category.

“Until this year, September’s outflow would have marked a record for UK-focused funds, but sentiment on UK assets has been so negative recently that it only ranked sixth,” said the firm in a statement.

Every other geography saw significant outflows too. Among the most notable, US equity funds had their worst month on record (beating August’s record outflow), shedding a net UKP497 million of capital.

Calastone said the strains caused by the extreme strength of the US dollar and the sharp economic slowdown in China drove a record UKP116 million of net outflows from emerging market funds and UKP223 million from Asia-Pacific (second only to August’s record).

The index also shows active funds seeing increased investor flight. “Active equity funds had proven relatively resilient for most of 2022, with either lower net outflows or higher net inflows each month than their passive counterparts,” said the firm. “But in the past two months the pattern has reversed. Active funds were hit with record net outflows of UKP1.89 billion in September compared to UKP472 million from passive funds.”

The only equity category to see inflows was specialist sector funds, especially those focused on infrastructure and renewables. Sector funds enjoyed inflows of UKP91 million, taking the net total to UKP3.5 billion over 23 consecutive months of inflows.

The flight from risk was seen in other asset classes too. Property funds suffered UKP89 million of outflows while mixed assets funds shed a record UKP740 million. Inflows to fixed income funds slumped to UKP72 million – turning sharply negative in the last week of September, in the wake of the market’s savage reaction to UK Chancellor Kwasi Kwarteng’s disastrous mini-budget.

“The surge in global bond yields is driving a dramatic repricing of assets of all kinds,” said Edward Glyn, head of global markets at Calastone. “UK investors are voting with their feet and heading for the exits. Meanwhile, the near-permanently frosty attitude towards UK assets shows no sign of thawing.”

The firm explains that impact investing is generally understood to mean forms of investment that have a social and/or environmental goal in addition to a financial return.

The study shows that the advance of impact investing is driven by two key data points: to reach the global net zero target by 2050, investments of USD100 trillion are likely to be required; and to implement the United Nations’ 17 Sustainable Development Goals (SDGs) by 2030, annual spending of USD5 trillion to USD 7 trillion is needed. Private markets cannot raise this capital on their own due to their limited scalability. However, publicly traded instruments such as funds and ETFs offer both the scale and reach to mobilise the needed capital.

The extent to which this development has progressed is shown in the report, which is based on a survey of 50 of the largest pension funds in North America, Europe, Asia and Australia, which together manage assets of EUR3.3 trillion (As of July 2022). The report finds that 22 per cent of pension funds have already implemented, or are currently implementing, impact investing as part of their passive investments.

“Pension funds increasingly see it as their duty to contribute, on behalf of their pensioners, to mitigate the negative effects of past economic development on the environment, climate and biodiversity. There is still a long way to go, but the important first step has been taken,” says Amin Rajan, Chief Executive of CREATE-Research.

As net zero and the UN’s SDGs can be replicated with rules-based indices, such as EU Paris-aligned and EU climate transition benchmarks, SDG index products, green bond indices, as well as thematic passive exposures using ETFs and mandates, these can help impact investing make a breakthrough in the public markets.

The report backs this up, with 58 per cent of survey participants believing the growing interest in thematic funds will evolve into impact investing over time. Sixty-four per cent believe that the net zero target will favour impact investing, while 54 per cent expect SDGs to provide new opportunities. Twenty-eight per cent of pension funds expect to use SDG and EU Paris-aligned and EU climate transition indices over the next three years.

“CREATE-Research’s important study shows that ETFs and passive mandates can make all the difference in helping impact investing break through on a broad scale. We are already seeing high demand from private and institutional investors for index concepts that formulate concrete goals, and we will be further expanding our efforts in this area,” says Simon Klein, Global Head of Passive Sales at DWS.

The firm says the CI ETF 1 vehicle, which was oversubscribed on the back of strong demand from institutional investors, is the largest dedicated clean hydrogen fund globally – underlining the strength of global investor appetite for energy transition investments.

CIP said the fundraise had generated commitments from a broad range of global investors – spanning the Nordics (at around 25 per cent of commitments), Europe (45 per cent), Asia Pacific (20 per cent) and North America (roughly 10 per cent) – with approximately a 50/50 split between existing investors in CIP funds and new investors.

According to the firm, the fund’s investor base comprises some 65 institutional investors – primarily pension funds, life insurance companies, sovereign wealth funds, asset managers, and family offices.

The CI ETF I fund will invest in next-generation renewable energy infrastructure including industrial-scale Power-to-X (PtX) projects – enabling institutional investors to participate in the decarbonisation of the so-called ‘hard to abate’ industries and to support the further integration of renewable power generation in the energy mix through grid balancing.

“The fund will primarily focus on greenfield projects in the OECD and aims to contribute to the decarbonisation of industries such as agriculture, aviation, shipping, chemical manufacturing, and steel production through the use of green fuels and feedstock and CO2-free fertilisers,” the firm said in a statement.

“We are very pleased to welcome a prominent group of existing and new institutional investors to CI ETF I and are delighted that investors share our confidence in and appetite for clean energy infrastructure projects and will invest alongside CIP in the next phase of the energy transition,” says Jakob Baruël Poulsen, managing partner at CIP.

He adds: “Solutions such as Power-to-X will be key for countries and industries to take the next big leap within reaching the commitments of the Paris Agreement and achieving energy independence. As an industry pioneer and one of the global market leaders in greenfield renewable infrastructure investments, CIP is uniquely positioned to invest in this segment.”

CIP said the new fund is already actively involved in “several attractive industrial-scale development stage PtX projects with diverse exposure to production technologies and offtake markets”.

These projects – which range across several countries in western Europe (Denmark, Norway, Spain, and Portugal), as well as South America (Chile) and Australia – are expected to produce green hydrogen, green ammonia, and sustainable aviation fuel based on GW-scale renewable energy production and electrolysis capacity.

Once operational, CI ETF I’s portfolio is estimated to reduce more than 7.5 million tonnes of CO2 annually (the equivalent to removing some 1.6 million cars from the roads permanently, according to CIP) and to deliver more than 4 million tonnes of green fuels every year. 

Founded in 2012, Copenhagen Infrastructure Partners has grown to become the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind.

The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages 10 funds and has so far raised nearly EUR20 billion for investments in energy and associated infrastructure projects from more than 135 international institutional investors.

The firm – which has some 340 employees across offices in in Copenhagen, London, Hamburg, Utrecht, New York, Tokyo, Singapore, Seoul, and Melbourne – is accelerating its role in the global energy transition, aiming to have EUR100 billion under management in green energy investments by 2030.