DAIWA ICP INCREASES ITS STAKE IN BLUE PHOENIX GROUP

March 30, 2023, London., Daiwa ICP Infrastructure Investments 1 (“Daiwa ICP II 1”), a special purpose co-investment vehicle managed by Daiwa ICP, has taken an additional 10% stake in Blue Phoenix Group (“BPG”), taking Daiwa ICP’s interests in BPG from 30% to 40%. Access Capital Partners and Barings, acting on behalf of their clients, have co-invested in this co-investment vehicle. The transaction closed on 30 March 2023. Infravia Capital Partners will remain as majority shareholder.

Blue Phoenix Group operates incinerator bottom ash (“IBA”) processing installations globally and helps the Energy-from-Waste sector with alternative sustainable solutions for ash residues. The company's principal activity is to treat IBA and recycle it into marketable mineral aggregates, ferrous and non-ferrous metals, preventing landfill disposal. IBA processing represents a critical element of the Energy-from-Waste value chain, completing the circular economy.

Gregor Jackson, CEO of Daiwa-ICP, stated: "We are very pleased to be able to bring this co-investment opportunity to Access and Barings, and also to increase our exposure to Blue Phoenix Group. We look forward to building on our relationships with two great names in the industry.”

Manish Pandey, Partner at Access Capital Partners, said: “We are very pleased to invest in Blue Phoenix Group and looking forward to the partnership with Daiwa-ICP. BPG provides essential Infrastructure and Services to the Energy-from-Waste industry and plays a critical role in Incinerator Bottom Ash circular economy.”

Naoki Ohta, Managing Director at Barings, said “We are excited to work with Daiwa ICP to invest in BPG. BPG aligns with our thematic focus on investing into infrastructure opportunities in sustainability, circular economy and the energy transition.”

Daiwa-ICP was advised by Shearman & Sterling (Legal adviser) and Astrid Advisors (Placement agent).

Access Capital Partners was advised by Proskauer (Legal adviser).

Barings was advised by McGuire Woods (Legal adviser).

About Daiwa International Capital Partners Limited

Daiwa International Capital Partners was established in 2020 by Gregor Jackson, Sergio Ronga and Daiwa International Investments GK (a part of the Daiwa Securities Group in Japan) as an independent manager of high-quality infrastructure assets, and is authorised and regulated by the Financial Conduct Authority. Find out more here >

About Daiwa ICP Infrastructure Investments 1

Daiwa ICP Infrastructure Investments 1 is a special purpose co-investment platform established by Daiwa International Capital Partners Limited in March 2023 to acquire a 10% stake in Blue Phoenix Group.

About Access Capital Partners

Access Capital Partners (“Access”), with offices in Paris, Brussels, London, Helsinki, Luxembourg and a local presence in Munich is a leading independent European manager and advisor of private equity, private debt and infrastructure funds and mandates. Access offers exposure to primary funds and secondary transactions as well as direct and co-investments in private assets. Access was founded in December 1998 and is majority-owned by its management. It manages or advises €14 billion of aggregate investor commitments from a diversified client base of over 350 institutional and private investors. Further information can be found on: www.access-capital-partners.com

About Barings

Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.

*As of December 31, 2022

About Astrid Advisors 

Astrid Advisors, established in 2019, is an independent specialist in fundraising and advisory services for private market strategies, focusing on infrastructure, the energy transition and investments focused on sustainability and the path towards decarbonisation.