-- Independent assessment highlights KTF’s differentiated strategy, disciplined underwriting and institutional-quality impact framework
KSB Sustainable Investments today announced that independent research house Brightlight Private Markets Research (Brightlight) has recognised the KSB Transition Fund (KTF) with an inaugural B+ rating.
Brightlight describes a B+ rating as an average investment with a positive recommendation for clients specifically seeking exposure to the target portfolio.
The rating reflects Brightlight’s independent analysis, which considered key operational, investment and risk-return factors across philosophy, people, process, positioning, performance, pricing and purpose.
It identified key strengths relative to peers:
- A valid and differentiated investment strategy positioned at the intersection of supply-chain resilience, decarbonisation and SME growth;
- Positioning in a segment between venture capital and large-cap decarbonisation capital;
- Disciplined entry criteria and an underwriting approach that does not rely solely on multiple expansion;
- A target income component that reduces reliance on exits as the only return driver;
- A well-structured process requiring dual GP approval from both Kilara Capital and Salter Brothers and integrated impact assessment;
- Senior team tenure, direct underwriting involvement and defined key person protections; and
- An impact measurement and management (IMM) framework consistent with institutional-quality impact private equity practice.
Ben Krasnostein, Managing Director of KSB Sustainable Investments, said: “We welcome Brightlight’s independent assessment and are pleased with the outcome of KTF’s inaugural rating review. The findings recognise the discipline of our investment approach and the strength of the platform we have built to pursue opportunities across decarbonisation, resilient supply chains and SME growth.”
Paul Salter, Managing Director of Salter Brothers, said: “Receiving a B+ rating in KTF’s first review is an important milestone. It provides independent recognition of the Fund’s differentiated positioning, experienced team and robust investment and impact processes.”
About KSB Sustainable Investments
KSB Sustainable Investments is a joint venture between Kilara Capital and Salter Brothers to create a specialist Australian decarbonisation investment manager. KSB will benefit from combined investment portfolio management expertise of Kilara Capital and Salter Brothers.
About KTF
KTF is a target A$200 million private equity strategy investing in profitable, established Australian SMEs embedded in critical supply chains. The fund is positioned to capitalise on opportunities arising from electrification and decarbonisation, while supporting Australia’s transition to a low-carbon economy. KTF targets a 20%+ net IRR and 6–9% p.a. in franked income distributions over the life of the fund, with a target portfolio of 10–15 investments. KTF completed its first investment, in Master Instruments, in February 2026.
About Kilara Capital
Founded in 2018, Kilara Capital (Kilara) is a dedicated Australian climate investment platform with a team of more than 10 professionals across Melbourne, Adelaide and Brisbane. Kilara seeks to deliver strong commercial returns alongside measurable decarbonisation outcomes for investors. The platform is supported by a substantial Australian family office with more than a decade of experience investing in climate solutions. Kilara’s founding team Ben Krasnostein, Emma Herd and Dougal Maple-Brown bring more than 30 years of combined investment and climate expertise, united by a shared commitment to accelerating decarbonisation. Kilara invests across three strategies: private equity, energy infrastructure and nature-based solutions. Its comprehensive climate and nature framework is integrated across portfolio companies and fund-level reporting.
About Salter Brothers
Salter Brothers is an Australian-owned global alternatives investment manager, with offices and operations in Australia, Singapore, Japan, Dubai and the USA. The firm specialises in providing investment opportunities for high net worth and institutional clients across real estate, credit, equities and specialist decarbonisation strategies. The firm manages over A$10.3 billion through its various business lines, including investment mandates of over A$5.4 billion, trustee and administration services for over A$4.0 billion in assets, and a multi-family office managing over A$0.9 billion. Whilst operating in multiple sectors, the company is renowned for its hospitality investments, managing over 44 hotels, accounting for over 6,500 rooms since December 2015 and now operates its own brands and hotel management platform. For more information visit salterbrothers.com
Disclaimer: Investment objectives, target returns and distributions are indicative only, are subject to assumptions and risks, and are not guaranteed
Media Contact:
Caterina Nesci
Director of Brand & Marketing
M: +61 466 888 037
E: [email protected]
Release ID: 89207636
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