P Capital Partners today announces the final close of PCP Transition

Final close of P Capital Partners’ new fund to finance sustainability transition in European companies.

P Capital Partners (“PCP”) is Europe’s leading non-bank provider of credit funding to entrepreneurial and family-owned businesses in need of capital to fund growth, acquisitions, refinancing or restructuring. As part of its strategy, PCP launched PCP Transition Partner Fund (“PCP Transition”) in 2021. The fund finances projects and companies with, or in transition to, sustainable business models, and those who enable such transition for other companies. PCP Transition’s final close took place on 30 June 2022 with capital commitments of 684 million euro.

P Capital Partners today announces the final close of PCP Transition – a credit fund fully dedicated to finance and support transition to sustainability for mid-sized companies in Europe. Technological development, regulatory requirements, and shifts in consumer and corporate behavior have created a need for today’s companies to adapt to sustainable business models to stay competitive. Many companies, however, are still off track to adapt their business to manage major sustainability risks. Supported by PCP’s long experience and strong network, PCP Transition supports and partners with companies whose business models contribute to society’s transition to sustainability in terms of reducing greenhouse gas emissions, use of limited natural resources, or protecting biodiversity. PCP Transition also continues to build on P Capital Partners heritage of investing in companies in change and building relationships and partnerships with European companies and entrepreneurs.

In its first close a year ago, the fund received capital commitments of 550 million euro. Through continued fund raising, the total capital commitments have increased to 684 million euro as of the 30 June 2022 final close. The investor base consists of European institutions, pension funds and family offices, including AP2, Folksam, KPA Pension and Skandia.

PCP Transition lends to mid-sized projects or companies with proven technologies in the Nordics, DACH region, Ireland, UK, Benelux and Poland. After its first close, PCP Transition executed two investments aligned with its transition mandate as well as PCP’s heritage. In its inaugural transaction, the fund provided financing to build and operate Ireland’s largest plastic waste sorting facility with a capacity of 50,000 tons of waste per annum. The investment promotes reduced use of virgin material through a circular business model, being one of the cornerstones of PCP Transition’s strategy. Furthermore, the fund provided funding to enable a well-established German solar PV developer and power producer to build a 37MW solar PV portfolio in Poland. The investment supports the country’s efforts to reduce its reliance on fossil fuel for energy generation and therefore contributes to its transition towards net zero emissions.

For more information, please contact:
Daniel Sachs, CEO, ds@pcapital.se
Petter Lindblad, Investment Director and responsible for PCP Transition, pl@pcapital.se