In response to widespread excitement over responsible investing globally, GPCA recognizes private capital investments with extraordinary outcomes across Asia, Latin America, Africa, CEE and the Middle East with the Deal Awards.
The 2024 GPCA Awards were presented during a ceremony at the annual GPCA Investors Meeting in London on 19 November.
For more exemplary private capital investment cases in Asia, Latin America, Africa, Central & Eastern Europe and the Middle East, download the GPCA Deal Books. For more information on the GPCA Awards or Deal Books, please contact Toluwani Adedeji at tadedeji@gpcapital.org.
2024 GPCA Deal Award Winners
The winners of the 2024 GPCA Deal Awards were determined by a distinguished panel of institutional investors from development finance institutions, insurance companies, pension funds and trusts.
The 2024 GPCA Deal Awards recognize investments with extraordinary outcomes in the categories of environmental sustainability, social impact, gender/diversity and innovation in Asia, Latin America, Africa, Central & Eastern Europe and the Middle East. Awards included Deal of the Year, featuring an outstanding exit. The awards were presented during the GPCA Investors Meeting in London.
Advent International receives the 2024 GPCA Deal of the Year Award for its investment in Grupo CRM. Grupo CRM is the largest premium and direct-to-consumer chocolate manufacturer and retailer in Brazil. In October 2020, Advent International acquired a majority stake in Grupo CRM. During Advent’s investment, Grupo CRM added 500 new stores and expanded the company’s workforce by 66%. Advent worked closely with the management team to redesign Grupo CRM’s digital sales strategy, with revenues from digital channels increasing from 0% to ~12% during the investment period. Grupo CRM’s partnership with the Extrema Clima Project, focused on forest conservation, has resulted in 10.3 hectares of trees planted in the Atlantic Forest to date and 3,289 tons of CO2 offset. Advent finalized its sale of Grupo CRM to Nestlé Brazil in March 2024.
Eversource Capital receives the 204 GPCA Environmental Sustainability Award for its investment in Greencell Mobility. Eversource Capital incubated GreenCell Mobility in September 2019 and has since deployed over USD122m into the platform. GreenCell is the largest provider of electric bus transportation services across India, operating more than 1,150 electric buses for both intracity and intercity transportation. The GreenCell fleet is 100% electric, with zero tailpipe emissions, and serves over 105 thousand customers daily. GreenCell vehicles have driven approximately 182 million kilometers to date, leading to the avoidance of 64 million liters of diesel and 94 thousand tons of CO2 abated.
Mediterrania Capital Partners receives the 2024 GPCA Social Impact Award for its investment in Akdital Holding. Akdital Group is the largest private clinic group in Morocco with a network of 29 multidisciplinary hospitals offering services such as cardiology, cardiac surgery, neurosurgery, oncology, radiotherapy, intensive care and neonatal care. Akdital has opened 22 new hospitals since Mediterrania’s investment, with total bed capacity increasing from 550 to over 3,700 beds. As of October 2024, Akdital has more than 4,000 employees, 80% of which are female and 76% of which are under the age of 25. Akdital provides funding to local paramedical schools, such as Hassan II University, to increase the number of students enrolled annually and to address skills gaps in the market. Akdital raised MAD1.2b (~USD113m) during its IPO on the Casablanca Stock Exchange (CSE) in December 2022.
Quadria Capital receives the 2024 GPCA Gender/Diversity Award for its investment in FV Hospital. FV Hospital (FV) is a JCI-accredited healthcare facility located in Ho Chi Minh City, serving 250 thousand patients annually across 36 medical specialties. Quadria worked closely with management to develop gender considerations within FV’s Ethical Framework, ensuring merit-based recruitment and a robust grievance system to address misconduct. Women represent over 70% of FV’s workforce and 65% of senior management, including the COO and CFO. Quadria and FV jointly established a center of excellence (COE) in maternity services, providing access to specialized care for new mothers. The center has served over 900 patients and facilitated 950 births to date, making FV the only private hospital in its district certified as Mother-and-Baby-Friendly by the Ministry of Health. In January 2024, Thomson Medical Group acquired FV for USD381m.
For more exemplary private capital investment cases in Asia, Latin America, Africa, Central & Eastern Europe and the Middle East, see the GPCA Deal Books.