Thematic approach to origination and portfolio construction

We adopt a thematic approach to origination and portfolio construction, backing businesses benefiting from structural trends which can support long-term sustainable growth in our portfolio. For example, many of the businesses we invest in stand to benefit from the transition to a low-carbon economy, the achievement of a more sustainable consumption model through a circular economy and improving health and wellbeing in societies affected by profound demographic changes.


Climate change and resource scarcity

The response to the climate and environmental emergencies will be among the defining themes of our time. The transition to a more sustainable consumption model and the development of solutions to tackle global warming and climate change, either through regulatory ‘push’ or changes in consumer preferences, are going to provide attractive investment opportunities for many decades.

We have significant exposure to the renewable energy and waste management sectors through our Infrastructure portfolio, with investments in companies such as Infinis and Valorem, which generate renewable energy, and Attero and HERAmbiente, which sort and recycle waste and generate power from waste that cannot be recycled. Our Infrastructure business is also invested in ESVAGT, the market leader in the fast-growing segment of service operation vessels for the offshore wind industry.

A number of our Private Equity portfolio companies provide services or solutions in support of the transition to a circular economy. For example, WP makes innovative packaging systems for the FMCG industry which are increasingly recyclable and reusable. Mepal develops innovative products for storing, serving and take-away food and drink, which can help to reduce food waste and the usage of single-use packaging. A core pillar of Evernex’s customer proposition is to repair, reuse and recycle IT equipment, reducing waste and emissions.

Demographic and social change

Increasing life expectancy and reduced fertility rates in most of our core markets are resulting in an ageing and often declining population, which is increasingly urban. These structural, long-term trends are resulting in profound changes in consumer behaviour and preferences, and the development of policy responses to meet the challenges of greater longevity and the increasing prevalence of age-related chronic illness.

The healthcare investments in our Private Equity portfolio, including Cirtec Medical, an outsourced medical device manufacturer, as well as Q Holding, SaniSure and ten23 health, which provide products and services to the life sciences industry, have developed their businesses to benefit from this increasingly important trend.

We also have exposure to this trend in our Infrastructure portfolio, through Ionisos, which provides cold sterilisation services to the medical and pharmaceutical industries, among others.


Back to top