REDWOOD CITY, Calif. & NEW YORK–(BUSINESS WIRE)– SER Capital Partners (“SER”), today announced a strategic minority investment from Capricorn Investment Group’s (“Capricorn”) Sustainable Investors Fund (“Capricorn SIF”). SER is led by partners Rahul Advani, Sara Graziano, and Rhem Wooten. The partners will continue to control, lead and manage the minority and woman-owned firm. Detailed financial terms were not disclosed.
SER invests in middle-market businesses that are positioned to meet the growing need for economic and sustainable assets, products, and services across North America. Over the past four years, SER has closed on over $500 million of capital commitments and invested in six portfolio companies in sectors spanning battery storage, electric vehicle charging, distributed renewables, energy efficiency and environmental remediation.
Capricorn SIF is a GP strategic solutions platform providing long-term capital to support the growth of leading asset management firms in the sustainability and climate space. The investment is grounded in SER’s and Capricorn SIF’s shared view of the critical need and opportunity for experienced and aligned private investment firms dedicated to sustainable, environmental and renewable sectors. Capricorn SIF’s investment will provide growth capital to enhance SER’s infrastructure, capital base, human capital, and overall resources as SER continues to execute on behalf of its limited partners.
SER Founder and CEO Rahul Advani noted: “We are excited to build a long-term and mission-aligned partnership with the Capricorn team as we seize on the generational investment opportunity to make a real contribution to decarbonization, energy security and a more circular economy. Capricorn SIF’s investment meaningfully strengthens our continuing efforts to originate new opportunities, support our portfolio companies, create measurable impact, and ultimately deliver attractive returns to our limited partners. The Capricorn team also complements and expands our access to investors and asset owners alike given its dedicated focus in the sustainable investment space. Importantly, Capricorn SIF’s investment endows SER with the resources to further grow without any changes to our investment strategy or mission.”
“SER has already built a strong foundation as a sustainable investment platform. The firm is led by a team with many years of institutional experience as investors, operators, and executives, and they have created an organization which effectively integrates mission and a commercial investment approach across all of its activities. We believe that SER’s differentiated strategy and leadership team will enable the firm to create value for its investors while building the next generation of sustainable businesses. We are excited by the partnership and look forward to supporting SER’s growth over the long-term,” added Capricorn Partner William Orum.
Kirkland & Ellis LLP was legal counsel to SER Capital Partners. Cooley LLP served as legal advisor to Capricorn SIF.
About SER Capital Partners
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North American sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed decades of experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to actively create attractive investments underpinned by critical assets while also authentically measuring and improving key sustainability metrics in line with the UN Principles for Responsible Investing. More is available at www.sercapitalpartners.com.
About Capricorn Investment Group
Capricorn is one of the largest mission-aligned firms in the world and has grown to manage more than $9 billion in multi-asset classes for foundations and institutional investors, through their range of impact-focused fund products. Its Sustainable Investors Fund (SIF) is a private equity partnership whose investment objective is to create value through investment in asset managers which incorporate sustainability as a key driver of investment returns.
The firm has offices in New York City and Palo Alto, and was born from a belief that sustainable investment practices can enhance risk-adjusted returns. Underlying this investment approach is a deep desire to demonstrate the huge investment potential that resides in breakthrough commercial solutions to the world’s most pressing problems. More is available at www.capricornllc.com