Suma Capital wins Real Deals ESG Awards 2022 in the ‘Impact Investment Fund’ category
Suma Capital, leading multi-asset sustainability management firm, has been honored at the Real Deals ESG Awards 2022 as the best ‘Impact Investment Fund’ in the GP Awards category.
The Firm received the award on Wednesday at a ceremony held at The Landmark hotel in London and organized by the prestigious international publication Real Deals, one of the largest publishing groups dedicated to European private equity. Those in charge of collecting the award on behalf of the entire Suma Capital team were Ruperto Unzué, partner of the SC Infra division, and Antoni Macià, investment director in the same area. Suma Capital was the only Spanish firm to receive an award in this edition, sharing the nomination with firms such as Blume Equity, Eurazeo, Green Arrow Capital, Gresham House, MIARAKAP and Tikehau Capital.
Suma Capital has been recognized for the Suma Capital Energy Efficiency Fund I (SCEEF I), in the category of best ‘Impact Investment Fund’, which recognizes funds that provide access to impact strategies and that in financial terms meet the return expectations for their investors. SCEEF I was a 2014 vintage fund (currently divested) with a clear focus on sustainable infrastructure for energy efficiency, small-scale renewable energy and circular economy, with high quantified and audited environmental impact.
For the selection criteria, the Real Deals ESG Awards 2022 jury took into consideration the funds’ overall performance and their ability to generate financial and impact returns for their investors. In this line, Suma Capital has proven to have met the benchmarks in sustainability and to have fully divested the fund with financial and impact success.
A good example of the firm’s commitment to impact has been its extensive experience of more than ten years on impact funds dedicated to climate action and sustainable infrastructure with impact. The firm has now launched its third climate fund, SC Climate Impact Fund III (SCCIF III), whose target size is 300 million euros, doubling the capital raised by its predecessor fund (SC Efficiency and Environment Fund II). As of today, it already has commitments for more than 75%, and expects to reach its target size in the first quarter of 2023. The commitments come largely from re-ups from previous funds, including €75m from the EIF (European Investment Fund), which confirmed its investment in the Fund during COP27.
The firm’s commitment has been demonstrated by classifying Fund II, which is already invested, and the new Fund III as Art.9 in accordance with the new Sustainable Finance Disclosure Regulation (SFDR). In the latter, it has also linked part of its success fee to the achievement of impact targets set by an independent committee.
For Enrique Tombas, president and founding partner of Suma Capital: “This award demonstrates the firm commitment to sustainability, impact and the purpose of working for the future that we believe in.” This award adds to the recognitions Suma Capital has received in recent years. The company has also been recognized for its ESG operations in Iberia and as Best ESG Manager in the low-mid market by SWEN Capital. It was also one of the early signatories of the UN PRI (United Nations Principles for Responsible Investment) where in recent years it has always obtained the highest rating (it recently got the 5 stars both at the firm level and in each of its investment lines).
Suma Capital has thanked its investors, invested companies, partners and employees for the trust and commitment they have placed in its projects, and looks forward to maintaining their relationship to continue working for the future in which it firmly believes.