Herbert Smith Freehills has advised the Clean Energy Finance Corporation (CEFC) on its A$35 million equity investment in Adamantem’s Environmental Opportunities Fund (EOF).
This investment follows the CEFC’s A$80 million investment in the Adamantem Capital Fund II, in relation to which Herbert Smith Freehills also advised the CEFC.
The EOF invests in mid-market operating businesses – with an enterprise value of between A$50 million and A$100 million – that enable or provide the services necessary to transition to a net zero economy.
The Herbert Smith Freehills team comprised partner Fiona Smedley, Special Counsel Yorick Ng, and Senior Associate Adam Hickey.
Fiona Smedley said, “The CEFC’s cornerstone investment in the EOF demonstrates its leadership in impact investments. We are elated to have facilitated a transaction that will help the private capital sector achieve Australia’s emissions goals.”
Yorick Ng added, “Congratulations to the CEFC on this important cornerstone investment. We are proud to continue to support the CEFC’s investment into private equity and look forward to continuing to assist the CEFC to achieve its goals.”
This Herbert Smith Freehills team has advised the CEFC across a range of equity investments, including the Pacific Equity Partners’ Secure Assets Fund II, Mirvac’s build-to-rent venture, Macquarie Infrastructure and Real Asset’s infrastructure platform, the Australian Renewables Income Fund, the Morrison & Co Growth Infrastructure Fund, the transforming farming platform managed by Gunn Agri Partners, the Investa Commercial Property Fund and the Mirvac Wholesale Office Fund.