IFM raises $380m for second mid-market PE fund

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Clean Energy Finance Corporation (CEFC), HESTA and Legalsuper are chipping in for IFM’s second private equity fund which has made its second close at $380 million.

IFM Investors’ second private equity fund has raised $380 million, after Clean Energy and Finance Corporation tipped in $80 million alongside commitments from HESTA and Legalsuper.Louise Kennerley

IFM’s head of private equity Stuart Wardman-Browne, who leads the 12-people team, said he would write cheques in the $30 million to $100 million range, with the sweet spot sitting at $40 million to $60 million.Wardman-Browne said he expected to invest in up to eight companies, but would also be happy holding a more concentrated portfolio. He expects to be busy in the healthcare, technology and business services sectors.ardman-Browne joined in 2016 from Sydney-based CHAMP Ventures.

IFM’s fund would aim for its investee companies to hit zero scope 1 and 2 emissions within five years, and take steps to reduce scope 3 emissions, including working with upstream suppliers, downstream customers, channel partners and industry peers.

 

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