Pegasus Capital Advisors is The First North American PE Buyout Firm Accredited by the Green Climate
Pegasus Capital Advisors, L.P. (“Pegasus”), a leading private equity firm providing strategic growth capital to middle-market companies focused on the sustainability and wellness sectors, announced today its accreditation by the Green Climate Fund (“GCF”). Pegasus is the first North American private equity buyout firm to be accredited by the GCF. As an accredited entity, Pegasus will have the ability to partner with GCF to fund projects and companies that align with
The GCF was established by the 194 countries who are parties to the United Nations Framework Convention on Climate Change(“UNFCCC”) in 2010. It aims to deliver equal amounts of funding to mitigation and adaptation solutions in developing countries, while being guided by the Convention’s principles and provisions. When the Paris Agreement was reached in 2015, the GCF was given an important role in serving the agreement and supporting the goal of keeping climate change well below 2 degrees Celsius, a goal that is becoming even more critical given recent reports and research regarding the threat of climate change.
The GCF seeks to promote a paradigm shift to low-emission and climate-resilient development, taking into account the needs of nations that are particularly vulnerable to climate change impacts. The GCF partners with financial institutions to deploy its capital through an accreditation program that involves a rigorous assessment of such financial institutions’ fiduciary policies and procedures, as well as commitment to environmental, social, and governance matters.
Accreditation reinforces the Firm’s commitment to the Paris Agreement, as well as the We Are Still In campaign, a declaration in June 2017 by a bipartisan coalition of over 3,500 representatives from all 50 states, spanning large and small businesses, mayors and governors, university presidents, faith leaders, tribal leaders, and cultural institutions, as a promise to world leaders that Americans would not retreat from the global pact to reduce emissions and stem the causes of climate change.
“Being accredited by GCF is an honor and is a testament to Pegasus’ dedication to investing in solutions that address the threat of climate change,” said Craig Cogut, Pegasus’ Chairman & CEO. “We look forward to partnering with the GCF.”
GCF has funded 93 projects to date totaling $1.62 billion. Pegasus anticipates partnering with GCF to fund projects that require more flexible capital than can be obtained from traditional funding sources. “Pegasus is deeply committed to GCF’s focus on addressing the needs of communities affected by climate change in developing countries, and our accreditation also supports our work to align with the United Nations Sustainable Development Goals (“SDGs”). We look forward to collaborative partnerships together with GCF and these communities to address the SDGs, with a particular emphasis on SDG 13 regarding climate action.” said Delilah Rothenberg, Operating Advisor for ESG and Impact at Pegasus.
About Pegasus Capital Advisors, L.P.: Pegasus Capital Advisors, L.P. is a private equity firm founded and led by Craig Cogut. Since inception in 1996, Pegasus has invested across five private equity funds and currently manages approximately $1.9 billion in assets. The Firm invests in companies within the sustainability and wellness sectors that are seeking strategic growth capital.
About Green Climate Fund: The Green Climate Fund (GCF) is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change. GCF helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change.