The PCMA Private Capital Markets Annual Conference took place June 2. Taking first place as Private Capital Markets Deals of the Year is Michael Lee-Chin’s new green energy fund.
The Portland Global Energy Efficiency and Renewable Energy Fund LP develops hydro, solar, wind, biomass and geothermal in developing regions of the global economy where booming populations and economic growth sees energy demand exploding. By providing clean and green energy in these regions the fund expects to benefit from improving economics as carbon pricing increases the cost of fossil fuels.
"Energy efficiency is now widely recognised as one of the most economical ways of addressing climate change and many countries have established energy efficiency targets," according to the fund.
Investors have been increasing their allocations to emerging market private equity funds over the last decade. The high rates of growth in the developing countries, coupled with limited access to capital in these regions, means a “strong local presence can build large quality pipelines of investment opportunities...with low levels of competition.” The fund claims it will generate an 8% distribution per annum.