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Clean Energy Finance Corporation makes first private equity investment
Herbert Smith Freehills has advised Clean Energy Finance Corporation on the group’s first investment in private equity.
Emma Musgrave
Firm: Herbert Smith Freehills (Clean Energy Finance Corporation)
Value: $80 million.
Area: Private equity.
Key players: The Herbert Smith Freehills team was led by partner Fiona Smedley and senior associate Yorick Ng.
Deal significance: A statement from HSF confirmed that the fund will establish an emissions reduction committee that will work with the CEFC to develop and oversee the emissions reduction pathways of the fund’s portfolio companies.
“The $700 million-plus fund targets mid-market companies, with a focus on consumer staples, healthcare and business-to-business services. This investment enables the CEFC to bring focus to the sustainability profile of a significant part of the Australian economy,” the statement noted.
Commenting further, Mr Ng said: “Congratulations to the CEFC on this landmark investment. The CEFC’s investment in the Adamantem Capital Fund II marks yet another success for the CEFC towards achieving emissions reduction across Australia’s economy.”
“We are proud to have facilitated the CEFC’s first investment in private equity and look forward to continuing to assist the CEFC to achieve its goals.”
Ms Smedley added: “We are delighted to continue our collaborative relationship with the CEFC. We are so proud to have worked with the CEFC on this matter and to have been part of a transaction that drives emissions reduction in the Australian economy.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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