Ontario Teachers’ Pension Plan is acquiring KKR’s stake in GreenCollar, an Australian company that works with land owners and specialises in carbon credits.
The Canadian pension fund, which first became an investor in GreenCollar in March last year, is investing an unspecified amount to buy KKR and other shareholders’ stakes in the environmental markets platform.
The latest deal, expected to be completed in the fourth quarter of the year, gives Ontario Teachers’ a significant majority stake in the company, with GreenCollar CEO and co-founder James Schultz continuing to lead the business and remaining a significant shareholder.
Christopher Metrakos, senior managing director in charge of natural resources at Ontario Teachers’ said: “GreenCollar is a proven leader in delivering positive environmental outcomes with market-based solutions and we are excited to continue supporting the company in its next chapter of growth in Australia and beyond.”
Schultz said: “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector.”
KKR first invested in GreenCollar in 2020 as part of its global impact strategy.
George Aitken, managing director and head of KKR’s global impact business in Asia Pacific, said: “GreenCollar is a great example of a solutions-oriented business that KKR looks to support through our global impact strategy, addressing some of the world’s biggest challenges such as climate change.
“Together with James, Ontario Teachers’ and the whole team at GreenCollar, we have made great strides in advancing GreenCollar’s important mission. It’s been a fantastic journey.”
Founded in 2011, GreenCollar works with landowners and managers throughout Australia to develop projects that create commercial opportunities by generating environmental credits, while caring for the environment.
To read the latest edition of the latest IPE Real Assets magazine click here.
