London, 30 June 2026
Generation Investment Management, the sustainable investment manager, today announced the close of Sustainable Private Equity Fund II (‘SPEF II’), the second fund in its Private Equity strategy. Together with related co-investment vehicles, SPEF II raised over $1 billion to back sustainability platforms: scaled, mission-critical businesses driving the sustainability transformation of their industries.
SPEF II attracted a diverse set of institutional investors with a far-reaching geographical spread, including strong support from longstanding partners. SPEF II is part of Generation’s Private Equity strategy which seeks to make flexible-term, minority or majority stake investments in a number of high-quality businesses that have capacity to drive their sectors’ progress on sustainability, while also delivering high growth.
Tom Hodges, Co-Head of Private Equity at Generation Investment Management, said: “Our latest fund reflects our firm and investors’ conviction in a long-held belief that transformation happens at the systems layer. The companies that operate as the backbones of their industries – running the workflows, the data and the distribution – are where sustainability is amplified and gets delivered at scale. Our goal with SPEF II is to partner with a select group of mission-driven business leaders to drive sustainability into the core of some of the world’s most important industries.”
Generation has made three investments from SPEF II to date, in Octopus Energy, Kraken Technologies and IFS. Octopus Energy is a global energy business and the leading UK energy supplier, operating across more than 25+ countries in energy retail and consumer services, energy transition services and renewable energy generation. Kraken is a technology platform, spun out of Octopus Energy, providing the infrastructure to optimise energy usage and make it greener, while reducing the costs to serve customers. Kraken serves over 70 million household and business accounts around the world. IFS is a global provider of enterprise software for asset-heavy industries such as manufacturing and construction, with the potential to reduce approximately 2% of the world’s carbon emissions if adopted across key sectors.
About Generation Investment Management
Generation Investment Management is an independent, private, owner-managed partnership headquartered in London, with a US presence in San Francisco. Since its founding in 2004, Generation has played a pioneering role in the development of sustainable investing. Its vision is a sustainable world in which prosperity is shared broadly, in a society that achieves wellbeing for all, protects nature and preserves a habitable climate. Generation pursues its vision with urgency by seeking to deliver long-term, attractive, risk-adjusted investment returns and positive impact, and by advocating for the adoption of sustainable investing across the wider market. For more information, please visit us at generationim.com.
Media Contact
Richard Campbell
Kekst CNC
generation@kekstcnc.com
+44 (0) 7775 784 933