MANAMA, BAHRAIN – Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom, announced that it is partnering with Investcorp to anchor the launch of a new investment platform for investing in climate solutions.
Under the management of Investcorp, the platform, ‘Climate Solutions Partners’, will focus on providing capital to leading international companies active in helping consumers and corporates worldwide to accelerate decarbonisation.
With an investment target of approximately US$750 million of capital investment, the platform will make investments in businesses at the growth “inflection point” where they have matured past many of the risks that face earlier stage ventures.
They must instead successfully manage and minimize the execution risks associated with expansion in middle-market investments and the firm’s well-developed global network.
Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, said, “Climate change is one of the most compelling investment opportunities for the coming years, and it is critical that the GCC and wider MENA region is positioned to lead in the energy transition and the new solutions which will be required.”
He said, “We are delighted to collaborate with Investcorp to launch this groundbreaking initiative and ensure its success.”
He added, “The Climate Solutions Partners platform demonstrates our unwavering commitment to combating climate change by leveraging technology and innovation to deliver a positive environmental impact, foster sustainability, and pave the way for a greener future.” Shaikh Abdulla added.
Chief Executive Officer of Investcorp Rishi Kapoor said, “Addressing the climate challenge requires the resources and expertise of the world’s leading financial institutions and investors, and we are proud to have Mumtalakat as an anchor and partner in launching this new initiative.”
He said, “Over Investcorp’s more than 40-year history, the firm has repeatedly identified new secular themes to generate attractive returns for our investors and transformed those opportunities into leading platforms of significant scale and positive impact. We believe climate solutions will be one of those major successes.”
The overarching objective of Climate Solutions Partners is to accelerate the global transition to a zero-carbon economy with a focus on the deployment of commercially proven climate solutions with the potential to transform industries across four key impact pathways.
They are carbon management, buildings, transportation, and food & agriculture while enabling broad-based availability of much needed decarbonization processes, products and services at attractive price points to the Global South, to help it address an mitigate the challenges of climate change.