Masdar Clean Tech Fund, L.P.
Masdar Clean Tech Fund, L.P., (the “Fund”) is
a $250 million diversified venture capital investment vehicle that will
build a portfolio of clean technology funds, direct/co-investments and
joint venture investments.
The Fund is made-up of commitments from the
following: (i) Abu Dhabi Future Energy Company (“ADFEC”), (ii)
Consensus Business Group (“CBG”) and (iii) Credit Suisse (“CS”).
The Fund will focus on the development and commercialization of technologies in renewable energy, energy efficiency, carbon management and monetization, water usage and desalination
The Fund will develop a portfolio of fund investments, committing approximately
$75 million to 3-5 fund managers. The remaining Fund capital will be invested
in co-investments alongside fund managers, direct investments in companies
sourced by the Fund and strategic joint-venture investments. The Fund will
seek to invest in companies with technologies that are suitable for commercialization
in the United Arab Emirates.
The Fund will be managed by CS Customized Fund Investment
Group (“CFIG”), one of the leading managers of private equity
fund of funds and co-investments, with approximately
$14 billion of commitments to approximately 600 private equity funds and
co-investments. CFIG will leverage ADFEC’s and CBG’s investment
expertise, as well as CS’s broad private equity and investment banking
platform for sourcing, selecting and adding value to investment opportunities
for the Fund. In addition, the Fund will leverage Abu Dhabi’s larger
alternative energy initiative, known as the 'Masdar initiative' that was
launched in March 2006. The Masdar initiative is Abu Dhabi's multi-faceted
response to the need for a global focus on resource conservation and the
alternative energy sector. It is designed to ensure in the long-term that
Abu Dhabi retains, and even grows, its share of the global energy market.
The Fund will focus on the development and commercialization of technologies
in renewable energy, energy efficiency, carbon management and monetization,
water usage and desalination. It is the expectation of the UAE government
that the Masdar initiative, as well as other governmental entities, will
be called on to support Fund portfolio managers, companies and joint venture
participants that wish to commercialize products in the UAE.
Value-add to
Abu Dhabi:
- A solid global partnership with a successful track record
- Link Abu Dhabi with the global alternative energy industry
- Local professional job creation – UAE nationals in GP
- Diversification of Abu Dhabi economy
- Ability to scale $1bn, (more job creation and technology)
- Creates a technology transfer and innovation platform in and out of Abu Dhabi
- Creates a platform for carbon trading origination and monetisation
- Scaling the fund into Infrastructure/Climate
- Attract additional investment capital into Abu Dhabi infrastructure sector Abu Dhabi to lead the environmental agenda across the region