CLOSED LOOP PARTNERS' PRIVATE EQUITY FUND ANNOUNCES FINAL CLOSE, MANAGING ASSETS IN EXCESS OF $200M

Closed Loop Partners' Leadership Fund Continues to Buy and Build Circular Economy Businesses that Mitigate Waste and Strengthen Circular Supply Chains

NEW YORK, June 6, 2022 /PRNewswire/ -- Closed Loop Partners announced Monday the successful final close of its Closed Loop Leadership Fund, managing in excess of $200 million of total assets. KIRKBI, funds and accounts managed by BlackRock, and Realdania's mission-driven investment arm join existing investors including Nuveen, a TIAA company; Nestlé; Microsoft; PepsiCo; Unilever; SK Geo Centric Co., Ltd.; donor advised funds and a series of global family offices in Closed Loop Partners' buyout investment strategy focused on building circular economy platforms across sectors.

Led by a team with decades of operating experience and investment expertise, the Fund's strategy centers on scaling business models that advance circular supply chains to keep packaging, organics, electronics and apparel out of landfills and within a circular system. The Closed Loop Leadership Fund's first investment was acquiring Balcones Resources, a top-tier, family-owned recycling business based in Austin, TX. In January 2022, the Leadership Fund led a consortium of investors to acquire the majority stake of Sims Municipal Recycling (SMR), which manages New York City's municipal recycling contract, the largest in North America. Combined, the Closed Loop Leadership Fund portfolio helps keep over 920k tons of recycled materials in play per year.

"Transitioning to a circular economy represents a capital shift of $4.5 trillion by 2030, according to research. There are strong tailwinds of consumer demand, cost-savings and resiliency driving the shift away from a linear economy," says Lynn Baranski, Global Head of Investments, BlackRock Private Equity Partners. "Closed Loop Partners has the expertise, thought leadership and differentiated execution ability to help capture the opportunity of this shift and drive positive economic, social and environmental outcomes through its investments."

"Increased circularity is critical to advance more sustainable production systems and more efficient use of natural resources," said Damir Hamzic, Head of Circular Plastics Investments at KIRKBI A/S. "Our investment in Closed Loop Partners' Leadership Fund aims to accelerate circular solutions and ultimately contribute to global sustainable development."

"Realdania's mission-related investment in the Closed Loop Leadership Fund supports the development of the circular economy, that holds great potential for the environment and sustainability," said Kenneth Lillelund Winther, Executive Director & CIO of Realdania. "Investing in the circular economy supports the sustainable management and use of natural resources and reduces waste through recycling and reuse."

The Leadership Fund is the largest fund to date for Closed Loop Partners, a pioneer in circular economy-focused investing. Over the past eight years, Closed Loop Partners deployed capital across multiple asset classes to help accelerate the transition to a circular economy, while driving returns for investors. The Closed Loop Partners platform now manages over $475 million and has made over 60 investments since its inception.

"Since its launch in 2019, the Closed Loop Leadership Fund, our buyout strategy at Closed Loop Partners, has made significant strides acquiring and building businesses at the forefront of developing circular supply chains at scale," says Ron Gonen, Founder & CEO of Closed Loop Partners. "This final close of the Fund, which includes a number of leading investors, is a milestone for the development of the circular economy."

To date, Closed Loop Partners' investments have kept 3.6 million tons of materials in circulation and avoided 6.8 million tonnes of greenhouse gas emissions. The company's vision and track record of successfully deploying capital toward circular solutions has enabled the shift away from inefficient, linear, extractive supply chains and toward more efficient, waste-free circular systems. The Leadership Fund is strategically positioned within the broader Closed Loop Partners ecosystem that is comprised of venture capital, growth equity, private equity, catalytic capital and an innovation center focused on building the circular economy.

"As an early investor in the Closed Loop Leadership Fund, one of our key goals was to drive increased investment in circular supply chains from the financial community as we continue our work to help create a waste-free future," said Chastity McLeod, Director of Technical Packaging, Nestlé USA. "We are thrilled to see the growth and impact of the fund since its launch and are proud to close the fund with such a diverse group of investors that will help scale the solutions needed to advance a circular economy."

Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity and catalytic capital, as well as an innovation center focused on building the circular economy. Investments align capitalism with positive social and environmental impact by reducing waste and greenhouse gas emissions via materials innovation, advanced recycling technologies, supply chain optimization and landfill diversion. Learn more at closedlooppartners.com

The Closed Loop Leadership Fund is Closed Loop Partners' private equity fund, focused on investing in best-in-class circular business models that are fundamental to keeping plastics and packaging, food and organics, electronics and textiles out of landfills and within a circular system. 

To learn about the Closed Loop Leadership Fund, visit Closed Loop Partners' website here.

Contact:
Allyson Wilson
[email protected]

SOURCE Closed Loop Partners