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Climate Change Capital’s US consulting tie-up ends

CCC and MJ Bradley & Associates go separate ways

Climate Change Capital, the environmental investment manager and advisor, has ended its relationship with US consulting firm MJ Bradley after less than two years, citing a lack of synergy.
“I can confirm CCC Group Ltd. has chosen not to purchase the remainder of MJ Bradley & Associates (MJB&A),” said a CCC spokesman. MJB&A has exercised its right to buy back its stake of the company.
CCC, when it was still headed by founder Mark Woodall, bought into MJ Bradley for an undisclosed sum in July 2008.
“While MJB&A is a successful business, there was insufficient synergy with CCC’s asset management groups to warrant buying the remainder of the company,” the spokesman told Responsible Investor – adding that there would be no job cuts as a result.
He added that CCC has a “number of expansionplans in the pipeline” although he wasn’t able to disclose them for compliance reasons.
CCC has more than $1.5bn of assets under management and manages what it says is the world’s largest private sector carbon fund.
At the time of the acquisition Woodall said MJ Bradley would help it expand into the US, seen as at a “tipping point” in its attitude to climate change.
Woodall was later succeeded by Shaun Mays, the former chief executive of Deutsche Asset Management’s RREEF Infrastructure Investments arm. Late last year Climate Change Capital named Vivienne Cox, the former chief executive of BP’s alternative energy arm, as its new chairman.
In 2008 the Universities Superannuation Scheme joined with three other investors to take a majority holding of just over 50% in CCC.