Vision Ridge Partners closed its SAF Annex Fund with $700 million of capital commitments.
Investors include the City and County of San Francisco Employees’ Retirement System, which last July committed $40 million to the fund within its real assets portfolio. It was the retirement fund’s third investment with Vision Ridge Partners. The new fund also received assets from a diverse base of existing Vision Ridge clients as well as new institutional investors, including leading sovereign wealth funds, endowments, foundations, family offices, public pensions and consultant investors.
“As our world faces a seismic shift towards sustainability, we are pleased to help advance companies at the forefront of the energy transition by providing the capital, industry expertise and deep network of relationships they need to succeed for decades to come,” said Reuben Munger, managing partner at Vision Ridge. “We are grateful for the strong support we have received for the Fund, which reflects our investors’ confidence in the Vision Ridge team.”
The fund strategy builds upon the $3.1 billion firm’s track record of identifying, developing and transforming complex assets across energy, transportation and agriculture. So far, Vision Ridge has committed just over half of the fund to multiple investments.
The fund’s successful close follows the close of Vision Ridge’s $1.25 billion Sustainable Asset Fund III in April 2021. In September 2021, Vision Ridge made an initial commitment of $100 million to Vision RNG LLC (VRNG), a full-service developer and operation of landfill gas infrastructure to capture and process this gas into sustainable renewable natural gas (RNG) assets.
“Looking ahead, we expect our targeted opportunity set and investment pipeline to remain robust. We are excited to build upon our momentum in 2022 to continue to generate value for our investors, our portfolio companies, and the planet in 2023,” Munger added.