Stafford Capital Partners is in market with a sustainable secondaries fund, within two months of closing its infrastructure and timberland secondaries vehicles.
Stafford Sustainable Secondaries Fund III has raised $20 million of an undisclosed amount from one investor, according to a filing with the Securities and Exchange Commission. The fund is expected to be in market for at least a year. The minimum investment is $5 million.
It is not clear if this is Stafford’s first sustainable fund with a dedicated secondaries strategy.
Stafford’s sustainable capital business invests in growth and buyout stage businesses that are helping the transition to a sustainable economy, according to its website. The firm does this through funds of funds and separately managed accounts for institutional clients that combine primary, secondaries and co-investments.
This includes investments in companies within the energy efficiency financing, LED manufacturing, water desalinisation and solar energy markets, according to the firm’s latest update with the UN Principles for Responsible Investing.
In June the firm held the final close on its latest infrastructure secondaries fund. Stafford Infrastructure Secondaries Fund II closed on €400 million, exceeding its €250 million target. The month before it raised $612.5 million for timberland secondaries vehicle Stafford International Timberland VIII, above its target of $500 million.
Stafford Capital Partners has more than $5.4 billion in assets under management across agriculture, credit, infrastructure, private equity, sustainable capital, timberland and venture capital.
The firm declined to comment.