Colesco, a sustainability-led direct lender with a mission to unite capital and purpose, announced it raised more than €800 million in its first platform close, welcoming APG and Rabobank as cornerstone investors. The firm also announced it has appointed Adam Willmott as Co-Head of Origination in its London office.
Over €800 Million Raised
Colesco’s investment strategy targets attractive returns while delivering real-life impact by supporting leading European mid-market businesses that contribute to the transition to a more sustainable society. Backed by a proprietary Responsible Investment Framework, Colesco is committed to making more than 50% of sustainable investments, with the remaining companies demonstrating a clear pathway to becoming a sustainable investment over time. Plus, over and above realizing financial returns, half of the performance-related fees are directly connected to realizing the platform’s sustainability KPIs.
Colesco aims to make transitional investments in companies providing solutions to environmental and societal challenges, focusing on three core themes: Sustainable Food, Energy Transition, and Inclusive Society.
Through credit underwriting, sustainability integration, and measurement, Colesco simultaneously combines the ability to deliver real-life impact with a no-compromise model – generating alpha by selecting assets that yield attractive risk-adjusted returns while meeting both the sustainability and credit quality bar. Colesco will offer regular and comprehensive reports on the outcomes of investments by using sustainability KPIs and the IRIS+ framework to translate impact intentions into measurable results clearly.
APG and Rabobank are both sustainability-led investors who share Colesco’s investment philosophy and vision. This clear strategic alignment explains their participation as cornerstone investors in the platform’s first close.
Adam Willmott Named As Co-Head of Origination
For this new role, Willmott will head up the origination and execution of private credit investments across Europe (bar the Benelux) and will join the firm’s Leadership Team and Investment Committee. And his appointment further supports Colesco’s capabilities in supporting companies across Europe with ambitious sustainability plans and he will be an invaluable asset to Colesco’s team.
Willmott brings with him more than thirty years of experience in financial services, over half of which was gained at Rabobank. Deeply immersed in European private equity, he has a wide network across the European sponsor community. Before joining Colesco, Willmott was Global Head of Sponsor Coverage at Rabobank, responsible for the bank’s private equity franchise across both LBO and Infrastructure. Previously he held various leadership positions in the bank’s Financial Sponsor ecosystem, amongst others running Acquisition Finance & Sponsor Coverage in Europe.
Willmott holds a Bachelor of Arts (BA) in Economics from the University of Exeter.
KEY QUOTES:
“At APG, on behalf of our clients ABP, bpfBouw, and PPF APG, we are committed to establish leading sustainability investment practices within the (European) private credit market. In Colesco, we have found a partner that shares this ambition. Colesco stood out as one of the few managers able to deliver on our requirements with respect to sustainable investments and to deliver attractive investment returns for our clients in a responsible manner. With this investment we are especially excited to support the sustainable growth ambitions of companies in the Netherlands.”
- Menno van den Elsaker, Head of Alternative Credits at APG
“This investment is a testament to the confidence we have in Colesco. Its strategy is in line with Rabobank’s mission to grow a better world together. By working with partners like Colesco, we can help to accelerate the sustainable transitions needed to future-proof the food and energy systems across the globe.”
- Stefaan Decraene, Chair of Rabobank’s Managing Board
“The first closing of our platform represents a significant milestone. It demonstrates our added value in the current European direct lending market and highlights how specialised managers that align with specific themes can be very relevant to the current needs of investors.”
“I am very excited that Adam will be leading our ambitious growth strategy across Europe. He is a banking stalwart who comes with a wealth of experience and a strong strategic network. Adam is a highly accomplished leveraged lender and sponsor coverage banker, as well as an influential team leader and people manager. We are determined to scale up the platform, connecting ambitious management teams with capital from professional investors who are looking for both attractive returns and real life impact, and Adam’s appointment is a clear signal of that commitment.”
- Danny Vroegop, Co-Founder and Chief Investment Officer at Colesco
“We are proud to welcome APG and Rabobank as our cornerstone investors – two like-minded partners with sustainability at their heart. They are both strongly committed to supporting the mobilisation of institutional capital to aid the sustainable transition of businesses across Europe and have put their trust in Colesco to help them deliver on this.”
- Robin van den Brandhof, Co-Founder and Chief Operating Officer at Colesco
“I am delighted to be joining Colesco. I have been a staunch supporter of the company since it launched a year ago and indeed throughout its gestation. I’m eager to embark on this exciting journey with the team and I hugely look forward to leveraging my experience to continue to deliver value to our clients while supporting impactful change and contributing to the transition to a more sustainable society – in short uniting capital and purpose.”
- Adam Willmott, Co-Head of Origination at Colesco
