Zouk, Sovereign Wealth Fund Invest in U.S. LED Manufacturer

Zouk Capital LLP, a London-based private equity firm, invested in Lighting Science Group Corp. (LSCG) as the Florida-based maker of energy-efficient lighting seeks to reach profitability and boost sales.

An unspecified sovereign wealth fund from the Middle East also added to the $49 million equity investment, Lighting Science, based in Satellite Beach, said in a statement.

LED lighting uses light-emitting diodes which are more efficient than traditional fluorescent and incandescent lamps. Energy efficiency equipment is attracting private equity investors such as Italy’s Ambienta SGR SpA and London-based Impax Asset Management Group Plc as power demand rises on the back of increased affluence in emerging markets.

The latest financing, the last portion of a $168 million equity program, will help Lighting Science “achieve profitability” and speed up new product sales, according to the statement. California-based Riverwood Capital LLC and Lighting Science’s major shareholder Pegasus Capital Advisors LP, based in New York, contributed to the previous funding rounds.

To contact the reporter responsible for this story: Sally Bakewell in London at Sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net