Ontario Teachers’ Acquires KKR’s Stake in Environmental Markets Platform GreenCollar
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Ontario Teachers’ first became an investor in GreenCollar in March 2022. With this latest investment, Ontario Teachers’ deepens its relationship with GreenCollar, taking on a significant majority stake in the Company, with GreenCollar CEO and Co-founder James Schultz continuing to lead the business and remaining a significant shareholder.
Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, has significant experience investing in agriculture, aquaculture, timberland, and natural climate solutions, including in
Christopher Metrakos, Senior Managing Director, Natural Resources at Ontario Teachers’, said: “We are pleased to increase our investment in GreenCollar and to continue supporting James and his team in their mission to restore and enhance natural capital in areas like biodiversity and water quality. GreenCollar is a proven leader in delivering positive environmental outcomes with market-based solutions and we are excited to continue supporting the company in its next chapter of growth in
James Schultz, CEO and Co-Founder of GreenCollar, added, “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector. We also want to extend our sincere gratitude to KKR for their support and commitment over past few years.”
KKR first invested in GreenCollar in 2020 as part of its Global Impact strategy, which focuses on companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). As a certified B corporation and provider of environmental initiatives that reduce the impact of climate change, GreenCollar’s core business directly contributes toward SDG 13 (Climate Action) and supports other sustainable goals, including SDG 15 (Life on Land) and SDG 14 (Life Below Water).
GreenCollar is the first Global Impact Fund investment to implement a broad-scale employee ownership plan. Once the transaction has completed, all employees at GreenCollar will share in the proceeds from the sale under a program that aims to build stronger companies and drive greater financial inclusion through employee ownership and engagement.
George Aitken, Managing Director and Head of KKR Global Impact,
GreenCollar is the latest example of KKR’s focus on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. Since 2011, KKR-backed companies have awarded billions of total value through broad-based equity programs to over 60,000 non-senior employees across more than 35 companies. In all cases, the employee ownership programs are an incremental benefit and not in exchange for benefits, wages or wage increases.
The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals.
KKR was advised by Gilbert & Tobin and UBS. Ontario Teachers’ was advised by Baker & Mackenzie and EY.
GreenCollar is a profit-for-purpose organisation, and the leading environmental markets project developer and investor across the climate, water quality, biodiversity and plastics markets in
About Ontario Teachers’ Pension Plan
Ontario Teachers' is a global investor with net assets of
With offices in
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
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