NewWorld Capital Group has launched as a private equity firm focused on mid-market companies and related infrastructure projects in the clean energy and environmental services space. It will focus on opportunities in the U.S., but also will invest selectively in Europe.
Founding partners include: Bradley Abelow (former chief of staff to NJ Governor Jon Corzine, former NJ treasurer and ex-Goldman pro), Bill Hallisey (managing director with GSC Group), Ali Iz (venture partner with CMEA Capital) and Everett Smith (managing director with New Energy Capital). The firm’s chairman is Carter Bales, former managing partner of The Wicks Group of Companies.
A group of founding investors today announced the formation of NewWorld Capital Group, a private equity firm that will invest in middle-market companies and related infrastructure projects in the clean energy, energy efficiency, environmental services, waste management, water, and sustainable/biodegradable materials fields, principally in the United States and selectively in Europe. The new Firm will provide expansion capital to proven companies and clean infrastructure projects in collaboration with top-quality management teams.
“We will apply the most rigorous tests,” said Carter Bales, who chairs the new Firm. “No unproven technologies, no venture investments, no business plans built on a future carbon price.”
The Firm’s founders are seasoned professionals with many years of investment experience in companies and infrastructure projects in the environmental sector. They bring related skills in business operations and project management, project finance and development, and regulatory issues.
NewWorld Capital will work in close cooperation with Ambienta Sgr, a leading European environmental assets private equity firm. The two Firms intend to collaborate in sourcing and evaluating investment opportunities in each other’s market.
Everett Smith, a founding partner, explained “The environmental sector is rife with opportunities for the informed investor. It is large, growing rapidly and reflects less competitive intensity than most investment sectors. Our Firm will provide expansion capital to companies and related infrastructure projects in the middle market — what is conventionally known as the “Commercialization Gap” – the period before companies and projects can command large
amounts of institutional capital.”
Founding partner Ali Iz added, “Unlike many other industries, businesses and projects in the environmental sector need significant amounts of capital to support their growth. NewWorld will bring a seasoned team to the task of finding the most solid and rewarding investments.”
Bradley Abelow, another founding partner, noted, “The transition to a cleaner and less carbonintensive economy will continue to gather momentum whether or not Congress acts this fall. The public demands it, businesses need regulatory certainty, and political leaders are beginning to realize the change has to come. More than 30 states already have Renewable Portfolio Standards mandating clean energy. Opportunities are now available for smart investors to earn super-normal returns while producing attractive benefits for society in the form of energy cost savings and a less polluted world.”
The Firm’s founding partners include Carter Bales, Bradley Abelow, Bill Hallisey, Ali Iz and Everett Smith.