Australia's leading independent law firm, Corrs Chambers Westgarth, has advised Tribeca Investment Partners (Tribeca) on a carbon credits investment joint venture and the launch of an A$500 million carbon fund.
The joint venture between Tribeca and Viridios Capital, VT Carbon Partners, will launch the VT Carbon Fund with an initial A$500 million portfolio of nature based carbon credits acquired through secondary market purchases and primary offtake agreements with developers.
The Corrs team advised on all aspects of the joint venture and fund, led by Corporate Partner Gaynor Tracey and Alternative Investment Funds Partner Fadi Khoury.
Commenting on the launch, Fadi Khoury said: "The timing of the fund launch coincides with the global push for a structured carbon credit market as government leaders meet at COP26 in Glasgow this month. From an investor perspective, the fund provides timely access to this new asset class."
Gaynor Tracey added: "The fund will take advantage of sector tailwinds as miners and industrial companies globally look at buying carbon credits to achieve net zero emissions by 2030."
Adam Lavis, CEO of Tribeca Investment Partners said: "The VT Carbon Fund is building inventory in partnership with the world's largest offset project developers. The launch of the fund, with strategic guidance from Corrs, provides investors with an early opportunity to support this growing sector."