New York-based investors form clean energy private equity fund

The vehicle will provide expansion capital to proven companies and clean infrastructure projects in collaboration with management teams.

NewWorld Capital will work in close cooperation with Ambienta, a European environmental assets private equity firm based in Italy. The two firms said they intend to collaborate in sourcing and evaluating investment opportunities in each other’s market.

Everett Smith, founding partner of NewWorld Capital, said, “The environmental sector is large, growing rapidly and reflects less competitive intensity than most investment sectors. Our firm will provide expansion capital in the middle market- what is conventionally known as the period before companies and projects can command large amounts of institutional capital.”

Bradley Abelow, another founding partner, added, “The transition to a cleaner and less carbon intensive economy will continue to gather momentum whether or not congress acts this fall. The public demands it, businesses need regulatory certainty, and political leaders are beginning to realise the change has to come. More than 30 states already have renewable portfolio standards mandating clean energy.”

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