Energy transition buyout specialist Magnesium Capital announced the successful closing of its inaugural Fund, Magnesium Capital I, at its hard cap of €135 million, exceeding the €100 million target. The final close happened less than a year after the fund’s first close, with Magnesium attracting blue-clip institutional investors from the US, Europe, and the UK.
Magnesium works with profitable European companies with proven technologies or tech-enabled services that positively impact energy production, distribution, and consumption decarbonization. And the team has been backing the buyouts of such businesses for several years on a direct deal basis.
Since its founding, Magnesium has completed seven platform investments, signed six follow-on acquisitions, and exited two investments for 4.2x gross MOIC. These portfolio companies’ combined impact directly contributes to avoiding over 30 million tons of carbon dioxide equivalent yearly.
Triago served as the exclusive global placement agent, Simpson Thacher & Bartlett as legal counsel, and PricewaterhouseCoopers as a tax advisor.
KEY QUOTES:
“Magnesium’s distinctive investment strategy, reputation for adding value by working closely with management teams, and the positive environmental impact of our portfolio companies, generated considerable investor interest resulting in the Fund being significantly over-subscribed.”
– Ian Jones, Managing Partner
“We are grateful for the support of our long-standing investors and also to our new limited partners for their belief in our strategy and our team. With the support of our impressive roster of investors, we now have access to deep pools of capital to continue developing and executing on our differentiated pipeline of opportunities to support the growth and development of companies poised to make a major contribution to the decarbonization of our energy system.”
– Matts Lundgren, Managing Partner
