PR90539

ABU DHABI, UAE, July 12, 2021 /PRNewswire=KYODO JBN/ --

- Backed by its stellar track record in the field of renewable energy, Vortex

Energy is launching this new fund to tap into the burgeoning global interest in

Energy Transition

Vortex Energy, a global renewable energy platform managed by the private equity

arm of EFG Hermes, has reached first close of USD 200 million (including a USD

25 million conditional commitment) for its fourth fund, which is anchored by

EFG Hermes and Abu Dhabi sovereign institutional investors and family offices,

among others. Vortex Energy IV was established in Abu Dhabi Global Markets

(ADGM) where the team will be based and will work alongside Vortex Energy's

existing and growing team in London.

Vortex Energy, since its establishment in 2015, has been successfully pursuing

renewable energy investments, completing the full cycle of investment and

divestment of c. 822 MWs of wind and solar energy assets in Europe. Industry

dynamics and market sentiment are highly supportive of this ever growing asset

class. In 2020 alone the renewables share of all annual power capacity

additions reached 82% compared to 15% a decade earlier. We are seeing today a

wide range of investment opportunities that cater to the growing demand for

sustainability and increased political and economic drive to support clean

energy transition.

Karim Moussa, Head of Private Equity and Asset Management at EFG Hermes and CEO

of Vortex Energy, said: "We are very excited about the launch of Vortex Energy

IV; the global opportunity is clear and tangible, with renewable energy

becoming mainstream. We expect with more net-zero policies and major

decarbonizing initiatives to see additions in renewable energy generation of c.

2 TW and investments of c. USD 3 trillion by 2030 globally. I am confident that

with our track record of deploying more than USD 1.6 billion in European assets

and returning double-digit IRRs, we will be able to grow a substantial asset

base for our fund investors. We are also excited to continue building our

business and investor base to reach our target size for the fund of USD 750

million within the coming two years."

Bakr Abdel-Wahab, CIO of Vortex Energy, said: "We will employ an active

investment strategy for Vortex Energy IV, looking to support developers and

independent power producers (IPPs) to reach their full potential, in addition

to investing in operating assets in countries that offer attractive returns.

The landscape is changing and energy transition investments are becoming more

complex compared to traditional assets with long-term contracted cash-flow

profiles. With our skill set and experience, I am confident that we have the

tools in place to gain a further foothold in the industry. We are already

looking at a very interesting pipeline of deals and companies worth c. USD 2

billion in Europe and the US."

Vortex Energy IV will target all energy transition verticals, including

generation (utility scale solar PV, on/offshore wind, hydropower, biomass,

distributed generation), storage, EV charging facilities, as well as supply-

and demand-side energy services. The fund scope covers the entire asset

lifecycle including operating plants, IPPs, development companies, greenfield

and commercial and industrial solutions. The geographical focus is on developed

and developing European countries, North America, Latin America and Australia.

Chimera Capital acted as strategic advisor to Vortex Energy in relation to

ADGM. White & Case provided legal advisory, PwC lent structuring services and

Apex administration support.

About Vortex

Vortex Energy was established in 2015 as an investment platform, sponsored by

the Private Equity arm of EFG Hermes, via Luxembourg-based Beaufort

Investments, to pursue renewable energy investments globally. Beaufort

Investments and its affiliates comprise of a team of 15 dedicated

infrastructure and private equity specialists, with wide experience in global

infrastructure and renewable energy that manage all Vortex Energy investments

and initiatives.

As of the end of 2020, Vortex had already aggregated, managed, optimized and

divested an 822MW European portfolio of wind and solar assets through various

investments amounting to approximately EUR 1.3 billion, spanning the UK, Spain,

France, Portugal and Belgium. Currently, Vortex has a full operational asset

management team based in London and a new office in ADGM, where the investment

team shall be located.

Learn more about us at www.vortexenergy.ae.

About EFG Hermes

With a current footprint spanning thirteen countries across four continents,

EFG Hermes started in Egypt and has grown over 37 years of success to become a

leading financial services corporation with access to emerging and frontier

markets. Drawing on our proven track-record and a team of more than 5,500

talented employees, we provide a wide spectrum of financial services that

include investment banking, asset management, securities brokerage, research

and private equity to the entire MENA region.

In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI)

Platform, which overlooks activities in the non-banking finance field covering

microfinance, leasing, factoring, consumer finance, mortgage and insurance.

This falls in line with the Firm's strategy to focus on two main pillars:

product diversification and geographic expansion into non-MENA markets, which

has seen the Firm establish a physical presence in Pakistan, Bangladesh,

Vietnam, Kenya, Nigeria, the United Kingdom and the United States.

For further information about EFG Hermes, please visit www.efghermes.com.

Note on Forward-Looking Statements

In this press release, EFG Hermes may make forward looking statements,

including, for example, statements about management's expectations, strategic

objectives, growth opportunities and business prospects. These forward-looking

statements are not historical facts but instead represent only EFG Hermes'

belief regarding future events, many of which, by their nature are inherently

uncertain and are beyond management's control and include among others,

financial market volatility; actions and initiatives taken by current and

potential competitors; general economic conditions and the effect of current,

pending and future legislation, regulations and regulatory actions.

Accordingly, the readers are cautioned not to place undue reliance on

forward-looking statements, which speak only as of the date on which they are

made.

Source: EFG Hermes