Resilient Industries & Natural Capital LAC Fund

The project consists of an IDB Invest anchor investment of up to the lesser of US$30 million or 20% of the capital of the Latin America Fund II (the “Fund” or “Resilient Industries & Natural Capital LAC Fund”), a partnership to be incorporated by Generation Investment Management LLP (“GIM") in Delaware, U.S.A. With a target size of US$350 million, the Fund is expected to be among the largest regional Private Equity (“PE”) fund focused on supporting the resilient economy through the provision of risk capital to two primary strategies; (i) solutions that decarbonize industries; and (ii) nature solutions to generate strong resilient capacity towards the net-zero emission target in Latin America and the Caribbean (“LAC”) (the “Project”). The IDB Invest investment includes an up to US$5 million of blended finance resources from the United Kingdom Sustainable Infrastructure Program to catalyze private sector investors into the Fund.

The Fund will be managed by GIM, a UK-based investment firm with over 20 years of experience in sustainable investing and approximately US$25 billion of assets under management. Within Private Markets, beyond its Growth Equity and Private Equity strategies, Generation invests in climate solutions through Just Climate, its climate-led investment arm established to address the net-zero challenge at scale. Just Climate targets attractive risk-adjusted returns by backing the highest-impact climate solutions.

The Fund is designed to mobilize capital at scale to provide long-term growth capital to approximately 12 companies. Where opportunities exceed the Fund’s standalone capacity, it can co‑invest alongside GIM’s global Industrial Climate Solutions (“ICS”) and Natural Climate Solutions (“NCS”), enabling the platform to finance sectors from early-growth stages through to significantly larger check sizes within a single, integrated approach. The Fund allocation strategy consists of investing between 40-60% of its portfolio in low-carbon industry & energy sectors, 20-40% in waste to value & circularity, and 20-40% in land-use transition & food systems. In addition, as a cross-cutting theme the Fund will look for enabling technologies for the climate transition underpinning its investments.

The Project aims to generate measurable avoidance and/or removal in GHG emissions through investments in companies that deploy low-carbon technologies, circular business models, and sustainable land-use practices. In addition, supported companies are expected to scale operations, improve financial performance, and demonstrate commercially viable climate solutions in the region. 

As at 31st March 2026. In the case of assets under management (“AUM”), this includes subscriptions and redemptions received by the last business day of the quarter-end but applied the first business day after the quarter-end. As at 31st March 2026, assets under management total approximately US$24.7 billion.