Longevity Partners has secured a “strategic investment” from Nuveen’s Private Equity Impact team, part of the $1.2tn (£920bn) global asset manager, and private equity firm Leon Capital.
Longevity said the investment – which the pair have made through the acquisition of Long Harbour’s long-standing stake in the business – would accelerate its global growth and drive further innovation in sustainability solutions for the built environment.
The firm, founded by Étienne Cadestin in 2015, said it would leverage the operational expertise and distinctive global networks of both Nuveen and Leon Capital to continue its mission of creating sustainable value through decarbonisation and innovation in the real estate and infrastructure markets.
“Joining forces with Leon Capital and Nuveen Private Equity Impact teams is a game-changer and marks an important milestone for Longevity,” said Cadestin. “This investment provides us with substantial resources, strategic support and firepower to further accelerate our growth and pursue transformative opportunities.
He added: “With this partnership, we are better positioned to scale our operations globally and expand our impact in driving the transition to net zero across the real estate and infrastructure sectors.”
Radhika Shroff, managing director, private equity impact at Nuveen, said: “With buildings responsible for 40% of global total carbon emissions, we believe our investment in Longevity Partners is true to our objective to tackle the issues at the heart of the global climate crisis. By investing in a robust, science-based evaluation company, we will be helping to accelerate the decarbonisation of real estate markets around the world.”
Recently filed accounts for Longevity Partners for the year ended 31 December show that Long Harbour had provided the business with a new £8m funding facility in April this year. Those accounts also reveal growing operational losses at Longevity, up from £44,000 in 2022 to £3.7m last year, led primarily by “significant financial challenges” and additional expenditure on strategic initiatives to break into the US market.
Turnover across the business grew, up from just under £12m in 2022 to £13.6m at the end of 2023.
The group said that following the financial losses in 2023, it had taken measures to improve its performance in 2024, implementing cost savings to drive profitability and reviewing its pricing strategy.
Send feedback to Samantha McClary
Follow Estates Gazette
