Global growth equity investor General Atlantic announced today the acquisition of sustainable infrastructure investor Actis. Following the acquisition, Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform.

The move marks the latest in a series of moves by major asset managers to boost their capabilities to target a rapidly growing infrastructure opportunity set driven by themes including energy transition and decarbonization, including last week’s acquisition by BlackRock of infrastructure giant GIP for $12.5 billion.

According to General Atlantic Chairman and CEO Bill Ford, the acquisition comes amidst a “global paradigm shift toward sustainability,” which will require “an economic transformation and a capital investment on a massive scale.”

Ford added:

“With the addition of Actis, we are taking a significant step forward to add a sustainable investment capability which positions General Atlantic to capture this opportunity set for our investors.”

Founded in 2004 as a spin-out from UK development finance institution CDC Group, London-based Actis has grown to more than 140 investment professionals across 17 global offices, with approximately $12.5 billion in AUM, and over $25 billion in capital raised since inception, targeting investments in critical infrastructure across key themes including energy transition, digital transition, and supply chain transformation.

Following the acquisition, General Atlantic will manage approximately $96 billion of AUM across sustainable infrastructure, real estate, growth equity and credit. The sustainable investment unit will continue to be led by Actis Chairman and Senior Partner Torbjorn Caesar, and the firm will retain the Actis brand.

Caesar said:

“We are very excited to be joining forces with General Atlantic. The combined firm brings together distinct but highly complementary strategies that unlock long-term value for our investors across key structural themes including the energy transition and digital transition.”

Financial terms of the acquisition were not disclosed. The transaction is expected to close in Q2 2024.

Investment giant BlackRock announced today the acquisition of infrastructure investor Global Infrastructure Partners (GIP) in a cash and stock deal valuing the company at $12.5 billion, citing emerging long-term opportunities in areas including decarbonization, energy security, digital infrastructure, and supply chain transitions.

Founded in 2006, New York-based GIP is the world’s largest independent infrastructure manager with over $100 billion in assets under management across infrastructure equity and credit strategies, targeting investments in the energy, transportation, digital, and water and waste sectors. The company’s investments include major renewables platforms Clearway, Vena, Atlas and Eolian, in addition to the Gatwick, Edinburgh, and Sydney airports, data center developers CyrusOne, waste and water circular solutions provider Suez, and rail and port operators.

The deal follows BlackRock’s characterization of infrastructure as a major source of investment opportunity in its recent 2024 Private Markets Outlook, released in December, driven by the low-carbon transition as a key mega-theme, and highlighting an upcoming “massive reallocation of capital” to rewire energy systems around the world. GIP has described decarbonization as central to its investment thesis.

In its press release announcing the acquisition, BlackRock said that the deal comes as “infrastructure is forecast to be one of the fastest growing segments of private markets in the years ahead,” with key drivers including increasing global demand for upgraded digital infrastructure, supply chain rewiring leading to renewed investment in logistical hubs such as airports, railroads and shipping ports, and decarbonization and energy security trends around the world.

BlackRock also noted the opportunities for infrastructure-focused private investors from participate in public-private partnerships in an environment of large government deficits, in addition to a conducive environment driven by high interest rates, with companies looking to improve return on capital through partnership opportunities for their embedded infrastructure assets.

BlackRock Chairman and CEO Larry Fink said:

“Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy. We believe the expansion of both physical and digital infrastructure will continue to accelerate, as governments prioritize self-sufficiency and security through increased domestic industrial capacity, energy independence, and onshoring or near-shoring of critical sectors. Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects.”

Post-acquisition the combined company will boast a greater than $150 billion global infrastructure platform, led by the GIP management team. GIP founding partner, Chairman and CEO Bayo Ogunlesi will also join the board of BlackRock, following the close of the transaction, the companies said.

Ogunlesi said:

“Investors have adopted private infrastructure investing for its ability to provide stable cashflows, less correlated returns, and a hedge against inflation. Global corporates have turned to private infrastructure as a fast innovator and a more commercially agile owner of infrastructure assets that aren’t core to their commercial businesses. This platform is set to be the preeminent, one-stop infrastructure solutions provider for global corporates and the public sector, mobilizing long-term private capital through long-standing firm relationships.”

London-based sustainability advisory and solutions firm Anthesis announced today the acquisition of sustainable business transformation-focused consultancy Revolt, in a move described by the companies as creating “one of the leading purpose, brand activation, communications, reporting and strategy teams globally.”

Launched in 2017 by co-founders Alex Lewis and Pete Bardell, London-based Revolt supports C-suite  decision makers with innovative large-scale projects across sustainability and DEI strategy, communications, and creative execution.

Revolt Co-founder, Alex Lewis, said:

“The promise of sustainable impact is within reach, but getting there is difficult for brands and businesses to navigate. Many of those struggling with this complexity find that traditional consultancy and agency models aren’t built to help them adapt. To urgently scale purposeful impact, it is becoming increasingly important for the science, the art, the technical and the strategic to come together. This is why we are delighted that our second chapter will be as part of the Anthesis family. Together, we have a unique opportunity to accelerate this sustainable transformation for clients new and old.”

The deal follows the announced acquisition last year of the acquisition by private equity investor Carlyle of a majority stake in Anthesis, and marks the latest in a string of acquisitions for the sustainability advisory firm, including five transactions last year. Founded in 2013, Anthesis works with companies, cities and other organizations to drive sustainability performance and develop financially-driven sustainability strategies, and currently has over 1,300 specialists across 46 offices in 23 countries.

According to Anthesis CEO Stuart McLachlan, the acquisition of Revolt will provide the firm with “world-class expertise and experience in purpose consulting, strategy and communication,” enabling the combined company to help clients “manage risk and find value for our clients in their transformation journeys.”

McLachlan added:

“Anthesis exists to guide our clients as they transition to decarbonised and more sustainable futures. The development and activation of purpose-led strategies for C-suites and brands will be critical… I’m delighted that we have assembled all these interdependent and vital components into one team focused on delivering positive impact.”

France-based energy giant TotalEnergies announced a series of acquisitions of startups aimed at accelerating the development of its electricity business, and supporting its ambition to achieve net zero by 2050.

Each of the companies participated in TotalEnergies’ On accelerator program, aimed at supporting the development of new companies in the electricity and renewable energy sector, and targeting companies that offer solutions across the electricity value chain, with a particular focus on digital solutions.

TotalEnergies said that the success of the programs in collaborations and tests with these startups led the company to negotiate their acquisition and integration into its business units which with they collaborated.

The acquisitions include energy portfolio management SaaS platform Dsflow, renewable project optimization software platform provides NASH Renewables and AI-driven predictive analytics company Predictive Layer.

Accordint to TotalEnergies, Dsflow will provide the company’s multi-site, electricity-intensive B2B customers with a platform to pilot their asset in real time and optimize their procurement strategy, while NASH Renewables is expected to enable TotalEnergies to improve profitability by factoring in the impact of the projects’ geographical specificities on the captured market prices and Predictive Layer will enable the company to improve the performance of its trading operations by internalizing the startup’s machine learning and artificial intelligence solutions focused on energy price forecasting and other tailor-made forecast modeling of demand, supply, production, or non-commodity trading.

TotalEnergies is acquiring a majority stake in startup Time2plug, aimed at facilitating and accelerating the deployment of EV charging points in France for its small B2B customers. Time2plug offers a marketplace where customers can obtain instant quotes and tap into a certified in-house installer network.

Stéphane Michel, President, Gas Renewables & Power at TotalEnergies said:

“All these solutions will enable us to improve our B2B offers; the development of our renewable projects; our market analyses; and the deployment of EV charging points.”

Since its launch in May 2022, TotalEnergies On has supported 19 start-ups during 2 six-month sessions, and the program is currently welcoming its third cohort, composed of ten participants, each working on digital solutions relating to electricity ranging from renewable production and storage to distributed electricity management, trading, retail, and electric mobility.

Private equity and venture capital investor EQT Group announced an agreement by EQT Infrastructure to acquire UK-based battery storage and flexible generation infrastructure developer and operator Statera Energy from InfraRed Capital Partners.

Founded in 2015, London-based Statera develops, owns, and operates large scale energy storage and flexible generation, assets, as well as pumped hydro and green hydrogen projects. It has about 1GW of assets in operation or under construction, which is enough to power around 750,000 homes. It plans to deliver 7.5GW of flexibility assets by 2030 and has a total pipeline of over 16GW.

Energy storage and flexible generation solutions are emerging as key energy transition investment areas, and form part of the major building blocks for the rapidly expanding clean energy transition, given the intermittent generating nature of many sources of renewable energy, such as wind and solar, and the need to satisfy round-the-clock energy demand, while ensuring that energy is not wasted. Statera’s assets provide grid balancing support in the UK, enabling the transition to a renewables-led power system and supporting the system’s decarbonization.

Tom Vernon, Founder and CEO of Statera, said:

“It is essential that flexible generation and energy storage technologies are deployed at scale to enable the vast amounts of renewables required to decarbonize power systems. Statera directly addresses this challenge by developing and operating projects which provide the resilience and flexibility required to balance the grid.”

EQT said that its infrastructure platform has committed to further invest in Statera’s ongoing development of battery storage and other flexible energy projects, and will provide access to growth capital to accelerate the deployment of flexible generation across the UK.

EQT Group Partner Francesco Starace said:

 “In a world increasingly reliant on intermittent renewables and striving to achieve Net Zero emissions, battery storage and other flexible generation solutions are imperative. Both the public and private sectors must commit time, expertise, and capital to innovative solutions that can expedite the energy transition. The partnership between EQT and Statera is an exciting step towards achieving this goal.”

Energy and automation digital solutions provider Schneider Electric announced the acquisition of climate consulting and net zero solutions provider EcoAct.

Founded in 2006, Paris, France-based EcoAct provides services and solutions to help businesses implement positive change in response to climate and carbon-related challenges, while driving commercial performance. The company employs over 360 climate, carbon and energy-focused experts, and offers a portfolio of net zero and nature-based products and services, including consulting, climate data tools, and carbon offset project development.

Stuart Lemmon, CEO of EcoAct, said:

“Urgent climate action is at the heart of our mission, and I know we’ve found the right partner in Schneider Electric. The company’s own demonstrated commitments to net zero – in its own operations and for its clients – speaks loudly in the market, and our EcoActors are excited to join together with another leading advisory team, putting climate and nature center stage to accelerate sustainable corporate transformation.”

EcoAct was acquired by digital solutions provider Atos in 2020, and Schneider Electric announced in July 2023 that it had entered into negotiations with Atos for the acquisition. Schneider Electric said that the transaction will expand and accelerate its global Sustainability Business, enabling the company to provide end-to-end net zero transformation solutions. Schneider Electric’s Sustainability Business provides advisory services in the areas including energy management, energy efficiency, renewable energy and environmental commodity procurement, sustainability and net zero consulting, climate risk, sustainability communications, and reporting & disclosure.

Steve Wilhite, President of Schneider Electric’s Sustainability Business, said:

“We have long admired the team at EcoAct, and bringing our two organizations together will help us to accelerate the ability to serve our clients all over the world. Companies understand the urgency to act but continue to face complexities when it comes to decarbonization. I’m confident that our combined best-in-class teams will help our clients to accelerate even faster towards their net zero ambitions.”

Private quity investors Blackstone and Vista Equity Partners announced an agreement to acquire energy market simulation software provider Energy Exemplar, with the investment aimed at accelerating the company’s growth and innovation to support grid reliability and the energy transition..

Founded in 1999, Australia-based Energy Exemplar provides optimization-based energy market simulation solutions enabling users to model and understand the increasingly complex energy transition landscape in a single unified platform. The company’s products are used by utilities, power producers, grid system operators, and others in the energy transition ecosystem to forecast market operations, drive long-term investments, and optimize ongoing operations across their assets and systems.

David Wilson, CEO of Energy Exemplar said:

“The combination of Blackstone and Vista brings a unique level of expertise in both the energy and software industries which will continue to propel Energy Exemplar as the go-to solution for the energy transition for all our clients around the world who are leading this charge.”

Energy Exemplar was acquired by private equity group Riverside Company in 2017, and has grown at 30% CAGR since 2018,currently serving over 500 customers in 79 countries.

Ryan Atlas, Managing Director at Vista Equity Partners said:

“Energy Exemplar is an established category leader with outsized growth potential in a rapidly evolving global energy market. Its platform provides a holistic view of the impact traditional and emerging energy systems have on the businesses of those leading the energy transition.”

The acquisition marked the latest in a series of energy transition-related transactions for Blackstone. Last year Blackstone stated that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade.

Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, said:

“We’re thrilled to be backing Energy Exemplar, a mission-critical software provider supporting the growth of renewable energy, battery storage, and transmission grid investment required for the energy transition. Blackstone’s energy market expertise and network of connections can enhance the company’s growth trajectory. We couldn’t be more excited to work with Vista, David, and the management team to drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonization. This investment is the latest in a series demonstrating Blackstone’s conviction in the energy transition.”

Environmental software solutions provider AMCS announced today the acquisition of ESG data and reporting platform provider Figbytes.

Launched in 2014 by co-founders Sonam Devgan and Ted Dhillon, Ottawa-based FigBytes helps organizations to plan, track and report ESG on goals across areas ranging from carbon accounting and climate action, to water impacts, and supply chain activities.

Details of the transaction were not disclosed. In December 2022, FigBytes announced that it had secured $14.5 million in financing, including $10 million in funding from existing investor Quantum Innovation Fund, and a $4.5 million debt facility from Silicon Valley Bank.

Ted Dhillon, CEO and Co-Founder of FigBytes said:

“The combination of FigBytes’ award-winning Sustainability Platform and the AMCS suite of Environmental Software Solutions provides organizations with a unique, compelling offering and one of the clearest digital pathways to a more sustainable future while enabling them to comply with ESG regulations around the world. I’m incredibly confident that our alignment with AMCS will unlock tremendous opportunities for organizations to make an even greater positive change for people and the planet.”

The transaction marks the second strategic move in the ESG space for AMCS, following the company’s acquisition of Quentic, a European SaaS for ESG and Environmental Health, Safety and Quality last year. According to AMCS, FigBytes’ market presence in North America will complement its established presence in Europe, while also enabling the company to better serve its clients globally with SaaS solutions that help them reach their sustainability goals and manage increasingly complex regulatory reporting requirements.

Jimmy Martin, CEO of AMCS said:

“This acquisition underscores our mission to provide integrated, secure, and future-proof environmental software solutions that help clients across the globe accelerate their growth and sustainability.”

UK-based health, Safety and ESG risk management provider Alcumus announced today the acquisition of sustainability certification provider Planet Mark.

Founded in 2013, London, England-based Planet Mark provides sustainability certification for businesses demonstrating commitment to measuring and reducing carbon emissions, and for the built environment, including development certification based on lifecycle building carbon emissions, fit and retrofit certification and property certification, in addition to carbon neutral and social value certification. The company also provides services including a net zero programme for companies, Scope 3 footprint calculation, supply chain engagement, and science-based target setting, among others.

According to the companies, the acquisition will enable Planet Mark to significantly expand its offering, with expectations for the integration to reveal complementary offerings for clients.

Steve Malkin, CEO and Founder of Planet Mark, said:

“As we reach our 10-year milestone, it gives the team and me great confidence knowing we’re joining forces with such a dynamic company as Alcumus. We have a shared vision to create a better future and drive impactful change. With their international presence and established history of helping businesses cut carbon, reach net zero and provide positive impacts for society and the environment., the possibilities are endless – we’re expecting big things as we enter our second decade.”

Founded in 1979, Alcumus helps organizations improve safety and sustainability through expertise and integrated products and services that anticipate, manage, and mitigate risks. The transaction follows the acquisition last year by global private equity advisory firm Apax Partners of a controlling stake in Alcumus. Alcumus said that Planet Mark will become an integral part of its portfolio.

Alyn Franklin, CEO at Alcumus, said:

“Alcumus is committed to measuring what matters, inspiring change, and making the world a safer and more sustainable place for all. The acquisition of Planet Mark is the latest part of our journey. This acquisition not only propels our growth ambitions but also adds tremendous value to our UK customer base, and represents a monumental stride towards a brighter and prosperous future.”

Investment data and research provider MSCI announced today an agreement to acquire Trove Research, a specialist data, analysis and advisory firm focused on corporate climate action, carbon markets and the energy transition.

The move marks MSCI’s entry into the rapidly evolving carbon market ecosystem, which includes banks, exchanges and developers. In addition to supporting MSCI’s goal to offer expanded climate solutions, the company said that the acquisition will enable it to offer clients with insights into companies’ transition plans, and the outlook for carbon credit pricing, as well as to increase transparency into carbon credit quality,

MSCI Chairman and CEO Henry Fernandez said:

“The voluntary carbon market has a key role to play in helping the world achieve net-zero emissions while helping our clients navigate the transition. Trove Research offers unique data and insights on how the market works and what can be done to improve it. By combining these tools with our integrated franchise, diverse client base, and wide range of capabilities, MSCI will strengthen its position as a leading provider of climate-related investment solutions.”

The acquisition comes as demand for carbon offset projects and related credits is expected to increase significantly over the next several years, as companies and businesses increasingly launch net zero ambitions, and turn to offsets as a bridge to their own absolute emissions reduction efforts, or to balance difficult to avoid emissions. The unregulated and rapidly growing market faces a series of challenges, however, with market participants unable to differentiate between high and low quality projects with insufficient or inconsistent data to assess the effectiveness of the projects.

Founded in 2015 to provide insights into sustainable asset investing, London-based Trove Research has focused since 2020 exclusively on tracking corporate climate commitments and all aspects of the voluntary carbon credit market. The company provides data and intelligence to users including asset owners and fund managers looking to understand companies’ climate commitments, companies exploring the purchase of carbon credits, and developers and investors creating projects on the ground and raising financing through the sale of carbon credits. The company has grown to more than 50 staff, with offices across 3 continents.

Guy Turner, Chief Executive Officer, Trove Research, said:

“Trove’s mission has always been to use data and analysis to help facilitate better investment decisions. Combining Trove’s deep carbon market data and analytics with the scale and breadth of MSCI’s sustainability and financial data will allow us to create truly world-leading climate solutions and bring real value to clients. I look forward to what we will achieve together.”