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STX Group announces new global carbon fund
11/10/2023
The first investment fund, Vertis Global Carbon Fund, is launched in partnership with Vertis Environmental Finance and Funds Avenue S.A.
Amsterdam, October 11th, 2023, STX Group, one of the leading providers of environmental commodities and corporate climate solutions, launches first investment fund in partnership with Funds Avenue S.A. and Vertis Environmental Finance. The fund under the name Vertis Global Carbon Fund will seek to catalyse further investments in carbon compliance markets.
The launch also marks STX Group’s entry to the asset management business with its first fund aimed at raising capital for the global compliance carbon markets, and therefore strengthening the Emissions Trading Systems (ETS) flourishing across the world.
The Vertis Global Carbon Fund will leverage on the expertise and experience of Vertis Environmental Finance, an ETS trading house with over 25 years of experience; and STX, one of the leading trading houses in the field of environmental commodities.
Vertis Global Carbon Fund is a response to the growing appetite for investments meeting the ESG criteria, while capturing price appreciation in the global carbon compliance markets, a fast-growing but historically illiquid market with a recent and constantly evolving regulatory framework. The fund is expected to raise around US$250 million over the next years.
Bart Wesselink, Chief Financial and Risk Officer at STX Group, said: “We are excited for the opportunity to expand our presence in the value chain of environmental commodities by entering the asset management space. We have vast experience in trading environmental commodities and are looking forward to working with Funds Avenue S.A. and Vertis by sharing our knowledge and working together towards a successful investment fund.”
“Carbon markets today are in a unique position. While ETS are a proven GHG emissions reduction mechanism, they are far from reaching their full potential. Through the Vertis Global Carbon Fund, we aim to encourage capital markets to fully engage with the compliance carbon markets and accelerate the green transition,” explained Gauthier Bily, CEO at Vertis
About STX group
STX is a leading global environmental commodity trader and climate solutions provider. For over 15 years, the company has been at the forefront of the global transition towards a low-carbon economy. By leveraging its expertise in accurately pricing pollution and emissions, it has helped to cultivate trust in market-based solutions to the decarbonization of the economy.
With its trading and Corporate Climate Solutions offerings, STX ensures that money flows to hundreds and thousands of projects that make the world a greener place, while providing corporations with the certified proof-points of their contributions to environmental progress.
After acquiring Vertis in December 2021, the STX Group now boasts a diverse team of nearly 500 employees from over 50 countries. Headquartered in Amsterdam, the Netherlands, STX Group has 11 offices around the world and an annual trading volume of over EUR 4 billion.
About Vertis Environmental Finance
Vertis is a trading firm focused on Emissions Trading. Founded in 1998, Vertis has grown into one of Europe’s foremost trading firms in the EU ETS. Vertis serves over 2700 industrials, airlines, and vessel operators in understanding the carbon compliance market and meeting the ETS regulation in a cost-effective way.
About the fund
Vertis Global Carbon Fund is a a sub-fund of STX FUND ASSET MANAGEMENT SCA SICAV-RAIF, STX Fund Asset Management SCA SICAV-RAIF, a Luxembourg investment company with variable capital – reserved alternative investment fund (société d’investissement à capital variable – fonds d’investissement alternatif réservé) established under the form of a corporate partnership limited by shares (société en commandite par actions). It qualifies as an alternative investment fund under the EU Alternative Investment Management Fund Manager Directive (“AIFMD”) and managed by Funds Avenue S.A. This fund discloses under Article 6 of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (SFDR). Accordingly, the fund does not promote environmental or social characteristics, nor does it have a sustainable investment objective. For further information on sustainability-related aspects (such as the integration of sustainability risk), please refer to the fund’s prospectus and the website. The decision to invest in the fund should consider all the characteristics and objectives of the fund as described in the prospectus and website.
Media contact
Funds Avenue S.A.
jacques.collins@fundsavenue.com
Please refer to the confidential offering memorandum (the “Memorandum”) of the Fund before making any final investment decisions. Funds Avenue S.A. is an alternative investment fund manager (“AIFM”) within the meaning of the Alternative Investment Fund Managers Directive (“AIFMD”) and is authorizRGertain requirements) in the Netherlands. Funds Avenue, S.A. is authorised to provide investment services in the Netherlands on the basis of a European passport from Luxembourg and is registered as such in the register kept by the AFM www.afm.nl.