August 2022.
Palisade Impact has raised over $400m for its first impact fund and associated co-investments.
Palisade Impact has completed the first capital raise for its inaugural open-ended impact fund and associated co-investments. Capital has come from a broad range of institutional investors, foundations, family offices and wealth managers.
The Fund has deployed capital into two investments. In April, Palisade Impact completed an investment in Gigacomm, a next generation communications infrastructure company that owns network infrastructure, enabling it to provide low-cost high-speed, reliable internet to thousands of homes and businesses across Australia. This was followed by an investment in Ecosave, an energy efficiency solutions business, that designs, builds, and operates capital upgrades for businesses and government clients across Australia, providing ongoing guaranteed cost savings and reduced carbon emissions.
The Fund will intentionally target solutions to environmental and social challenges while delivering strong risk-adjusted returns. Palisade Impact will provide practical solutions to these issues, by investing in next generation infrastructure-like assets and businesses that provide essential services, supporting the future economy.
Palisade Impact will take a cross-sector approach to driving the race to zero: zero emissions, zero waste and zero inequality (with a focus on digital inequality). These themes of energy transition, digital equity, and the circular economy together with changing technology and policy, provide a large opportunity to invest in greener, smarter, more equitable, connected infrastructure of the future.
Steve Gross, CEO of Palisade Impact, said “We are grateful for the trust that our investors have put in the Palisade Impact team. We are firm believers that values drive value. We look forward to helping our investors deliver strong returns and impact to their members and beneficiaries”.
Palisade Impact will be majority owned by the executive team, with 2% of the manager also being owned by the Pinnacle Charitable Foundation and Tideline – a preeminent consultant to the global impact investing industry, enabling dedicated funding to go towards charitable causes, advocacy, and the growth of the impact industry. Palisade Impact and Tideline have entered into a long-term partnership to deliver a best-in-class impact framework for the Fund and to implement robust impact diligence, value creation, and reporting.
“Tideline is proud to be a long-term partner to Palisade Impact and to support the team’s pioneering and deeply committed work in mid-market infrastructure. It is exciting to see impact gaining momentum in Australia and Tideline looks forward to continuing to play a market-building role,” said Ben Thornley, Co-Founder and Managing Partner at Tideline.
Palisade Impact is part of the Palisade Group and will build on Palisade’s strong ESG capabilities. It will also leverage Palisade’s active management and development expertise in the waste management, digital infrastructure, and renewable energy industries.
Roger Lloyd, CEO of Palisade, said “Palisade Impact’s successful capital raise from a range of investors – including some of Palisade’s longstanding clients – is a noteworthy milestone. The Palisade Impact team are exceptionally capable, and their values align with the broader Palisade values of responsible and sustainable investing. We are thrilled that they are part of the Palisade family”.
Karen Gould, COO of Palisade, said “Palisade has an established track record of delivering strong returns to investors in our infrastructure and renewable energy funds. The Palisade Impact Fund is an exciting addition to the Palisade Group’s offerings, providing further flexibility to investors seeking greater impact in their portfolios”.
For further information please contact:
Steve Gross
CEO, Palisade Impact
Ph: +61 407 564 129
steve.gross@palisadepartners.com.au
Karen Gould
Chief Operating Officer
Ph: +61 2 8970 7805
karen.gould@palisadepartners.com.au
Download the full media release here