North Sky Capital’s latest secondaries fund has closed on $220 million of commitments. The target of Clean Growth Fund V was $150 million. The fund invests in sectors such as energy, food, water, transportation, consumer goods and healthy living & aging.
North Sky Capital Raises $220 million Secondaries Fund
Minneapolis, MN – North Sky Capital (“North Sky”) is pleased to announce the closing of its latest impact secondaries fund, Clean Growth Fund V (“CG V”), with $220 million of commitments. The fundraising target was $150 million. Investors include prominent pension plans, foundations and family offices from across the United States and Europe.
The goal of the fund is to generate strong private equity returns for its investors, while also creating positive environmental and social benefits. The fund invests in sectors such as energy, food, water, transportation, consumer goods and healthy living & aging. The team had already deployed approximately 20% of CG V into nine investments. Additional investments are expected to close by quarter-end.
Scott Barrington, CEO, said, “I am proud of our team and the important work they are doing. We have been at the leading edge of the ESG/impact investing movement since it began. Investor demand for our latest fund is a testament to this team’s steadfast determination over the last 15 years, in good times and bad, and our dedication to make the world a better place through smart, purposeful investments. I want to specifically recognize the outstanding fundraising efforts of Gretchen Postula and Andrew Harris and the insightful investment work of Tom Jorgensen, Danny Zouber, Mike Pohlen and the rest of the team.”
CG V is North Sky’s seventh impact fund. Typical benefits that emanate from North Sky’s funds include sustainable use of natural resources, transitioning the world to a renewable energy future, better health outcomes and job creation. Like its predecessors, CG V is expected to help the ESG/impact ecosystem to grow and mature by providing a market-clearing liquidity function for investors who wish to rebalance their existing portfolios and deploy new capital into exciting new areas such as sustainable consumer products, energy storage, anti-aging technology and indoor agriculture.
Barrington continued, “Tremendous innovation and investment are happening right now that will improve our everyday lives and the health of our planet. With the wonderful support of our investors, we are enabling major sectors of the global economy to transition to more sustainable business practices. We are optimistic about the future, and we are humbled and grateful to play our small role in it.”
About North Sky Capital: North Sky is a registered investment adviser with $1.4 billion in committed capital across its various funds. North Sky was established in 2000 and is based in Minneapolis, with offices in Boston and New York. North Sky is a leader in impact investing in private markets with a focus on impact private equity and sustainable infrastructure. For more information, visit www.northskycapital.com.