Scottish Equity Partners has launched a new £95m secondaries fund, which has acquired a portfolio of clean energy investments from SSE Ventures, the investment arm of SSE plc.
The Environmental Energies Fund (EEF) is backed by four institutional investors, headed by Lexington Partners. The other investors are Hermes GPE, F&C Private Equity and Partners Group.
The EEF will operate as a partnership between the financial investors and SSE, which has maintained a significant interest in the portfolio by investing in the fund.
SEP has formed a separate team to manage the fund, headed by partner Gary Le Sueur.
He will be joined by Tony Robison, who previously worked for a number of SEP-backed portfolio companies, including oilfield technology company MTEM.