CREO Network and Cleantech Syndicate merge to form CREO Syndicate, a family office network with more than $80 billion in investable capital
The CREO Network, the leading network of private investors and advisors in the global environmental marketplace, and Cleantech Syndicate, the largest group of family office investors in the energy efficiency and clean technology space, today announced the merger of the two organizations to create the CREO Syndicate. By merging the two organizations, the organizers have created the world’s pre-eminent private network serving family offices and private investors within the global environmental, energy efficiency and clean energy marketplace.
The core mission of the CREO Syndicate is to educate family offices, high net worth investors and other asset owners about the environmental and clean energy-related marketplaces, and to foster more collaborative, impactful and profitable investment in these sectors. Each organization brings significant expertise and experience to the space: the merged entity will have more than 20 core families and 100 network participants, representing more than $80 billion of investable capital an increasing share of which will be allocated for investments in clean technologies, renewables and other environmental opportunities. Collectively, CREO Syndicate participants have invested over $1.5 billion into clean energy and the environment and are looking to invest an additional $2 billion over the next five years.
Membership is invitation-only, and includes sophisticated family offices and foundations, together with certain sovereign wealth funds and institutional investors. The CREO Syndicate represents a ‘cradle-to-scale’ platform for these investors, providing
education in new emerging sectors, a forum for shared learning and experience, and the chance to form trusted partnerships to pursue investment opportunities that exploit increased scale and reach. Some prominent members of the CREO Syndicate include Black Coral Capital, Capricorn Investment Group, Hunt Energy Enterprises, CCM Energy, Drakes View Capital, Marshall Street Management/MissionPoint, Forsythia Foundation, Kamine Development Corp., the Grantham Foundation for the Protection of the Environment, AMP Americas, Fuller Smith, McNally Capital, Sustainable America, the Wallace Global Foundation, and Wolfensohn & Co.
Jason Scott, a co-Managing Partner of Encourage Capital, and Martin Whittaker, CEO of JUST Capital, are the CREO Network’s founding co-conveners. They note the shared philosophy and culture of the CREO Syndicate membership as being the key to success. “What happened today is that the two most savvy, influential, and committed communities of clean tech and environmental investors and have come together”, says Scott. “Everyone involved shares a collaborate spirit and wants to create value via positive environmental and social advancement.” They expect more family offices, foundations, private investors and sovereign wealth funds will want to join the CREO Syndicate. Whittaker believes “the value of this network will increase as both financial and environmental impacts are realized. CREO Syndicate is the only place established by family offices, for family offices, within this growing marketplace”.
Christian Zabbal, managing director of Black Coral Capital and one of the founding family offices of the Cleantech Syndicate, agrees: “The renewables and energy efficiencies space has been exploding with more ideas, better business models, and more actors to talk to. By pooling the resources of the Syndicate and CREO Network together, the CREO Syndicate will have unprecedented expertise in the field, and tremendous resources to find, select, and back the best ideas. Ultimately, this will lead to better long term environmental outcomes for us all while at the same time providing investors with less risk and more rewards.”
The CREO Syndicate announced this merger at the White House Clean Energy Summit. Last year, at the White House Impact Investing summit, eleven family office investors from the CREO Network made impact investment commitments across energy, infrastructure, agriculture and water. The members that made the $300 million commitment include: Capricorn Investment Group, Drakes View Capital, the Grantham Foundation for the Protection of the Environment, CCM Energy, the Wallace Global Foundation, Sustainable America, Wolfensohn & Co, Forsythia Foundation, and MissionPoint. Progress towards meeting those commitments will be highlighted at the White House Clean Energy Summit.
About CREO Network
The CREO (“Cleantech, Renewables and Environmental Opportunities”) Network is co- convened by Jason Scott of Encourage Capital and Martin Whittaker of JUST Capital. CREO was developed to catalyze institutional scale family office investments into global clean energy, sustainability and broader environmental and impact markets. Founded in 2011, the CREO Network has met eight times over the past three years, in partnership with some of the largest and most respected names in global finance and private wealth management. Over 75 individuals, representing over 40 family offices and foundations have attended meetings, collectively constituting over $50 billion of investable capital. Meetings are invitation-only events usually focused on specific CREO themes and investment opportunities where family office and foundation investment managers are joined by leaders from the fund management, corporate, non-profit and public sectors.
About Cleantech Syndicate (the “Syndicate”)
The Cleantech Syndicate (“the syndicate”) was founded in June 2010 by McNally Capital,
Black Coral Capital and several other family offices in order to pool family office expertise, resources and capital to help the individual members expand their respective investment capabilities by working together. The Cleantech Syndicate comprises more than a dozen prominent families focused on making direct investments into privately- held Cleantech and Alternative Energy companies. For the past 5 years, the Syndicate has convened quarterly. Collectively, the members of the Cleantech Syndicate have invested over $1.2 billion into such companies and are looking to invest an
additional $1.4 billion over the next five years. The collective net worth of all Syndicate members exceeds $30 billion.
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