{"id":566684,"date":"2021-07-07T13:48:02","date_gmt":"2021-07-07T13:48:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/"},"modified":"2021-07-07T13:48:02","modified_gmt":"2021-07-07T13:48:02","slug":"big-esg-private-equity-funding-coming-courtesy-of-efg","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/","title":{"rendered":"Big ESG private equity funding coming, courtesy of EFG"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EFG Hermes makes first USD 200 mn close for Vortex Energy IV fund: <\/strong>EFG Hermes announced its first close of USD 200 mn for the fourth fund of its flagship renewable energy platform Vortex Energy, including a USD 25 mn of conditional commitment, the company said in a press release (<a href=\"https:\/\/ent.news\/2021\/7\/Vortex-Energy-IV-ENG.pdf\">pdf<\/a>)<sup><\/sup>. The Vortex Energy IV fund is anchored by EFG Hermes, \u201cAbu Dhabi sovereign institutional investors\u201d (which we will assume involves ADQ) and family offices, and an unnamed Asian family office, the company said.<\/p>\n<p><strong>EFG Hermes plans to grow the fund to USD 750 mn in the coming two years<\/strong>, head of Private Equity and Asset Management at EFG Hermes and CEO of Vortex Energy Karim Moussa said.<\/p>\n<p><strong>c.USD 2 bn pipeline in Europe and the US:<\/strong> \u201cWe are already looking at a very interesting pipeline of [transactions] and companies worth c. USD 2 bn in Europe and the US,\u201d CIO of Vortex Energy Bakr Abdel-Wahab said.<\/p>\n<p><strong>T<\/strong><strong>he fund will look at acquisitions of existing projects and building new ones<\/strong>, Moussa adds. \u201cMost of our targets are growth capital, meaning someone who needs capital to build, as opposed to somebody selling out,\u201d Moussa tells us in a separate interview.<\/p>\n<p><strong>Pipeline for Vortex IV: <\/strong>Currently, Vortex IV is looking at a wind and solar energy developer in Spain, and is assessing transactions in Poland, Greece, UK and the US, Moussa tells us. A lot of developers now tend to do wind and solar together, to leverage renewable energy sources during the day and night, he tells us, noting that \u201cthat is going to be the future.\u201d<\/p>\n<p><strong>Why Europe and the US?<\/strong> \u201cEurope is a market that we\u2019re very familiar with and it\u2019s very diverse,\u201d he says. \u201cWe\u2019ve been contemplating a lot of investments there.\u201d Vortex IV will also be selective with some markets in Latin America and Australia.<\/p>\n<p><strong>Moussa points to major infrastructure projects such as US Biden administration\u2019s USD 2 tn infrastructure plans<\/strong>, which includes decarbonization and green energy, as one of the main drivers for investing in these markets. He believes that a lot of push in the next few decades will come from \u201cThat is why EFG is launching this fund,\u201d Moussa says.<\/p>\n<p><strong>A timeline for a second or final close is still unclear<\/strong>, Moussa says. It is very difficult to raise investments in light of travel restrictions. \u201cThis is really slowing us down. You can do hundreds of Zoom meetings, but you\u2019re not going to acquire a company if you\u2019ve never seen someone. You really need to physically meet people,\u201d Moussa says. The process will be expedited once travel opens up in a few months, he adds. So far, EFG has raised from a group of investors that it was very familiar with, but once \u201cbusiness-as-usual\u201d resumes, they will be able to go and close much faster, according to Moussa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes makes first USD 200 mn close for Vortex Energy IV fund: EFG Hermes announced its first close of USD 200 mn for the fourth fund of its flagship renewable energy platform Vortex Energy, including a USD 25 mn of conditional commitment, the company said in a press release (pdf). The Vortex Energy IV [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":566685,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10072],"tags":[84,633,7087,246,758,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-green-economy","tag-efg-hermes","tag-enterprisepm","tag-finance","tag-green-economy","tag-private-equity","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"86c5a819-d5d5-4755-af2f-c9bbfdb504e8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/347.png","photo_position":"above","related_issue":[566680],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Big ESG private equity funding coming, courtesy of EFG - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big ESG private equity funding coming, courtesy of EFG\" \/>\n<meta property=\"og:description\" content=\"EFG Hermes makes first USD 200 mn close for Vortex Energy IV fund: EFG Hermes announced its first close of USD 200 mn for the fourth fund of its flagship renewable energy platform Vortex Energy, including a USD 25 mn of conditional commitment, the company said in a press release (pdf). The Vortex Energy IV [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-07T13:48:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/347.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Big ESG private equity funding coming, courtesy of EFG\",\"datePublished\":\"2021-07-07T13:48:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\"},\"wordCount\":483,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/347.png?fit=%2C&ssl=1\",\"keywords\":[\"EFG Hermes\",\"EnterprisePM\",\"Finance\",\"Green Economy\",\"private equity\",\"renewables\"],\"articleSection\":[\"SPEED ROUND: GREEN ECONOMY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg\/\",\"name\":\"Big ESG private equity funding coming, courtesy of EFG - 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year\u2019s end, bringing the fund\u2019s total size to over USD 500 mn","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544870,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/efg-hermes-private-equity-units-eye-fresh-investments-acquisitions\/","url_meta":{"origin":566684,"position":1},"title":"EFG Hermes\u2019 private equity units eye fresh investments + acquisitions","author":"enterpriseam admin","date":"24 March 2022","format":false,"excerpt":"EFG Hermes-led Vortex Energy, RX Healthcare, and Education Fund eyeing fresh investments + acquisitions: EFG Hermes\u2019 Egypt Education Fund, and its healthcare arm, RX Healthcare, are studying new investments and acquisitions, head of private equity and asset management Karim Moussa told Enterprise, confirming a story published in Al Mal.The education\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/340.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555971,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/","url_meta":{"origin":566684,"position":2},"title":"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer","author":"enterpriseam admin","date":"5 October 2021","format":false,"excerpt":"\u200b\u200bEFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia in return for an undisclosed equity stake, the companies said in a joint statement (pdf) yesterday.The investment has handed EFG 49% 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Spanish\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574714,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/efg-managed-vortex-energy-sells-controlling-stake-in-gbp-500-mn-uk-based-solar-energy-portfolio\/","url_meta":{"origin":566684,"position":3},"title":"EFG-managed Vortex Energy sells controlling stake in GBP 500 mn UK based solar energy portfolio","author":"enterpriseam admin","date":"20 September 2020","format":false,"excerpt":"INVESTMENT WATCH- EFG-managed Vortex Energy sells controlling stake in GBP 500 mn UK solar energy portfolio: EFG Hermes-managed renewable energy investment company Vortex Energy has sold a controlling stake in its UK solar energy portfolio, Vortex III, to Malaysian utilities company TNB International, in an agreement that handed the portfolio\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555902,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/03\/efg-hermes-eyes-minority-stake-in-spanish-ignis-energia\/","url_meta":{"origin":566684,"position":4},"title":"EFG Hermes eyes minority stake in Spanish Ignis Energia","author":"enterpriseam admin","date":"3 October 2021","format":false,"excerpt":"EFG Hermes is in talks to acquire a significant minority stake in Spanish renewable energy company Ignis Energia in a transaction that would value it at around EUR 1 bn, Spanish newspaper Expansionreported Thursday. EFG is reportedly looking to purchase 45-49% of the company through a capital increase, an agreement\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/24.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547087,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/","url_meta":{"origin":566684,"position":5},"title":"EFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"Vortex Energy has made more than a third of its planned EUR 625 mn investment in Ignis Energia: EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release (pdf) yesterday. Vortex plans to eventually\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566684"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566684\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566685"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566684"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566684"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}