Five private equity firms come together for One Planet

In Paris, five private equity giants launched a new global climate mobilization effort to support the members of the One Planet Sovereign Wealth Funds in implementing a new investment framework.

The founding firms of the One Planet Private Equity Funds (OPAM) initiative are Ardian, The Carlyle Group, Global Infrastructure Partners, Macquarie Infrastructure and Real Assets (MIRA) and SoftBank Investment Advisers.

The firms pledged to commit to actively collaborate within the sovereign wealth funds’ framework and also engage with members of the One Planet Sovereign Wealth Funds (OPSWF) and managers as well as with other stakeholders potentially including regulators to advance the objectives set out in the framework.

“We commit to sharing of our investment best practices with the members of the OPSWF and OPAM, and to develop a sectoral agenda, namely on energy transition and renewable energy, technology and innovation, utilities, real estate, transport and infrastructure,” the manager group stated in a press release.

The work is the effort of six sovereign wealth funds: Abu Dhabi Investment Authority (ADIA); Kuwait Investment Authority (KIA); New Zealand Superannuation Fund (NZSF); Norway’s Norges Bank Investment Management (NBIM); Saudi Arabia’s Public Investment (PIM); and Qatar Investment Authority (QIA). Together formed the OPSWF in 2017.

Another nine sovereign wealth funds, driven by the same willingness to fight climate change and to contribute toward a low-carbon economy joined the group since. Then in July 2018, the group published its framework.

The investment framework centers on alignment, ownership and integration.

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