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Year Founded: 1990

AUM: $847M | Dry Powder: $99.8M

2 Bethesda Metro Center, Suite 440, Bethesda, MD 20814,US

Global Environment Fund was founded in 1990 and is based in Bethesda, Maryland. It is a global alternative asset manager and investment firm that prefers to invest in the energy, environmental and natural resources sectors

Key Contacts

  • H. Jeffrey Leonard

    CEO & Co-Founder

  • Stuart Barkoff

    Managing Director, Partner, and Chief Operating Officer

  • Scott MacLeod

    Managing Partner

Investment Preferences

  • Preferred Industries

    Agriculture, Application Software, Chemicals and Gases, Database Software, Energy Refining, Environmental Services (B2B), Financial Software, Gas Utilities, Hospitals/Inpatient Services, Logistics, Energy Services, etc.

  • Geographical Preference

    North America, South America, Southeast Asia

  • Preferred Deal Types

    PE Growth/Expansion

  • Other Investment Preferences

    Long-Term Investor, Seeks ESG investments, Seeks Impact investments, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

GEF Latin America Fund II
Vintage: 2019

Size: NA

Dry Powder: NA

Details: The fund prefers to invest in Latin America and seeks impact investments related to energy and land

South Asia Growth Fund II
Vintage: 2018

Size: $200M

Dry Powder: $28.8M

Details: The fund targets energy and climate tech industries & invests primarily in India & Bangladesh

GEF Africa Growth Fund
Vintage: 2015

Size: $50M

Dry Powder: $3.9M

Details: The fund prefers investments related to energy and agriculture

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In September 2022, ReNew Power, via its financial sponsors Global Environment Fund, Jera Co., RMG Acquisition Corp. II, and others entered into a definitive agreement to acquire 3E, a Belgium based software company that creates AI-driven products to improve the energy yield and performance of renewable solar and wind projects for an undisclosed amount

In April 2022, ReNew Power, via its financial sponsors Abu Dhabi Investment Authority, BlackRock, BNP Paribas, Global Environment Fund and other investors, acquired a portfolio of 375MW solar projects for an undisclosed amount

In December 2019, UPC Renewables, a Hong Kong and Beijing-based wind power developer, received $60 million of venture funding from Global Environment Fund and CIAM Group. UPC will use the funds to construct more wind projects and further develop its wind power portfolio in China

In June 2018, ESDS Software Solution Pvt. Ltd., an India-based datacenter and cloud services provider, raised $10.4 million of venture funding from Global Environment Fund, GEF Capital Partners and other undisclosed investors

In May 2018, OPTIMOZ, a provider of digital transformation and managed cloud computing services received $2 million of development capital from Global Environment Fund. The funds will be used to expand its enterprise DevSecOps platform service to meet growing market needs

In April 2018, ReNew Power acquired Ostro Energy for an enterprise value of $1.66 billion. As of the acquisition date Ostro Energy had wind assets of 648MW with 350MW in pipeline. The investors in ReNew Power includes Global Environment Fund, Goldman Sachs, Abu Dhabi Investment Authority, the Asian Development Bank and JERA

In April 2016, Global Environment Fund (GEF) and Kinea acquired a stake in Brazilian logistics company AGV Logística from Tarpon. GEF and Kinea also invested R$60 million in the company. AGV Logística is a provider of intelligence and logistics operations in x`Brazil

In August 2015, Global Environment Fund invested $11 million in India based wastewater-treatment company Concord Enviro Systems. The fund was provided to expand Concord’s global presence and introduce new products

In July 2014, GEF SACEF India, a fund managed by the Global Environment Fund along with Asian Development Bank and Goldman Sachs, invested $140 million in ReNew Power Ventures, an independent power producer. As of then, ReNew Power owned and operated 460MW of renewable energy assets

Other Details

Global Environment Fund is a private equity fund manager focused on seeking superior long-term financial returns by investing in and managing businesses that advance resource and energy efficiency and safety and security. The firm invests in businesses in both emerging and developed economies where changing energy, environmental, and natural resource constraints or needs have resulted in business and financial opportunities.

The firm’s open fund, namely, GEF Capital, is located in Bethesda, Maryland, and prefers ESG investments.

Abu Dhabi Investment Authority, Agri Power & Engineering Solutions, AlpInvest Partners, Asian Development Bank, BlackRock, BNP Paribas, Chainalytics, CPP Investments, Criterion Africa Partners, Dalmia Bharat Enterprises, GEF Capital Partners, Goldman Sachs Asset Management, GP Investments, MTO Group, Networking Ventures, Outcome Capital, ReNew Power, Goldman Sachs Asset Management, Spring Growth Partners, Stonehaven Capital, Sylebra Capital, TT International Investment Management, TVS Capital, Vedanta Capital and Zimmer Partners are some of the co-investors who invest alongside GEF.

Source: Pitchbook, Company Website, Press Release