OeEB and Accession Capital Partners (ACP) Group, a European advisor and asset manager in the field of private equity and private debt, have jointly launched ACP OeEB Climate Impact Fund, a new fund of funds.

In addition to generating attractive returns, the fund aims to promote climate protection and improve the living conditions of people in emerging markets. The first closing has already taken place, and the fund will remain open for additional capital commitments for another 12–18 months.

The ACP OeEB Climate Impact Fund will invest in around 10 established private equity and infrastructure target funds in emerging markets. 

All target funds either focus on renewable energies and storage solutions and/or invest in companies active in other climate-relevant sectors, such as climate tech, energy efficiency, circular economy, or environmentally friendly mobility.

"With the ACP OeEB Climate Funds, we have achieved another milestone in OeEB's private equity history after the Gutmann OeEB Impact Fund. Especially in developing countries, equity capital that enables corporate growth is an important development instrument. Private investors are given the opportunity to invest their capital in a meaningful and profitable way, together with OeEB and other international development banks," said Hannes Manndorff, Managing Director of the Private Equity Department of OeEB.

"Our aim is to mobilize private capital and demonstrate that climate investments in emerging markets can generate attractive returns for institutional investors from Europe. At the same time, we want to make an important contribution to climate protection and improve the living conditions of people in developing and emerging countries – a key strategic goal of OeEB," added Sabine Gaber, CEO and member of the Executive Board of OeEB. 

"The cooperation with the Austrian Development Bank is not only a milestone for our two institutions, but is also a matter of personal importance to me. With over 25 years of experience in selecting, structuring, and managing funds for long-term investors such as pension funds, insurance companies, banks, and family offices, we at the ACP Group have been supporting medium-sized companies in their sustainable growth since our foundation. Together with OeEB, we are combining our strengths to achieve a concrete and measurable development impact with the capital entrusted to us by our investor – while at the same time striving for an attractive financial return," said Franz Hörhager, founder and Chairman of the ACP Group. 

"We are pleased with the successful launch of the ACP OeEB Climate Impact Fund and are grateful for the trust placed in this unique partnership between OeEB and the ACP Group," added Christian Stix, Partner and Head of Investor Relations at the ACP Group. "With our fund of funds approach, we provide institutional investors with access to a diversified portfolio of private equity and infrastructure strategies in climate-relevant sectors. This allows us to combine targeted climate benefits with a professionally managed risk profile."

Emerging markets hold the key to addressing the climate crisis. The facts speak for themselves: emerging markets are responsible for two-thirds of emissions, a share that continues to grow. Local people are disproportionately affected by the negative consequences of climate change. Simultaneously, emerging markets offer more cost-effective opportunities for reducing greenhouse gases. Furthermore, renewable energy projects and investments in companies operating in other climate-relevant sectors, such as e-mobility-as-a-service or e-waste recycling, can generate higher returns in emerging markets than in Europe or the US.

The ACP OeEB Impact Fund will invest at least 60% of its capital in the fastest-growing markets in Asia and smaller portions in Latin America and Africa. 

In total, the fund of funds' overall portfolio will comprise more than 100 projects, distributed across around 10 target funds. This offers investors a broad diversification across countries, business models, technologies, project phases, and currencies, and thus an optimized risk profile.