Metier achieves US$113m first close for second sustainable fund
Metier has received US$113 million in commitments and has called the first close of its second Sustainable Capital Fund, Metier Sustainable Capital Fund II (MSC II).
MSC II targets investments in select African countries and secured commitments from Germany’s development finance institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, Dutch entrepreneurial development bank FMO (Financierings-Maatschappij voor Ontwikkelingslanden N.V.) and Proparco (the private sector arm of the French Development Agency), all of whom have previously invested with Metier in either their growth or sustainable capital funds.
Metier has also secured US$20 million investment from the African Development Bank. The Bank’s funding will contribute to the production of an additional 178.5 megawatts of renewable power for commercial and residential use. It will also create opportunities for industrial wastewater treatment and waste-to-energy generation. The Fund will meet the Bank’s strict environment and safeguards standards to ensure potential risks are adequately mitigated.
MSC II is the tenth capital pool for the Metier team, which has worked together for over three decades and collectively has a track record of over 100 strong performance deals. Metier’s successful predecessor Sustainable Capital Fund of 2012/13 invested in eight portfolio companies, the most recent of which is a water and wastewater treatment business, that builds and operates treatment plants with a recent strategy of taking ownership in water-efficient infrastructure.
