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General Atlantic acquiring buyout firm Actis to beef up climate investing

Illustration of a roll of green sheet steel resembling a roll of cash hanging from a crane

Illustration: Annelise Capossela/Axios

Private equity giant General Atlantic announced on Tuesday that it's buying London-based buyout firm Actis, in a move aimed at expanding its climate-focused infrastructure deals.

Why it matters: General Atlantic is joining BlackRock in buying its way to climate investing expertise and resources.

Details: Actis invests in critical infrastructure spanning green energy, data centers, and supply chain logistics.

  • It has about $12.5 billion assets under management. In joining General Atlantic, it will bring that firm's AUM to $96 billion.

Of note: Actis chairman and senior partner Torbjorn Caesar will continue to lead the firm, which "will retain independence over its investment decisions and processes with its funds operating under the existing Actis brand."

Be smart: Deal details layout how Actis will expand General Atlantic's "sustainable infrastructure strategy."

  • It comes two years after General Atlantic raised for its first fund focused on sustainability, BeyondNetZero.

Meanwhile, BlackRock on Friday said it would buy Global Infrastructure Partners for about $12.5 billion in cash and stock to expand the firm's presence in infrastructure investing, including in green assets.

💭 Our thought bubble: The acquisitions by General Atlantic and BlackRock signal that cautious infrastructure investors are finally willing to write big checks in climate tech — the only question is which sectors they see as sufficiently mature to invest in first.

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