CEO Tobias Reichmuth tells us 75% of the fund’s projects must come with long-term capacity agreements, how SUSI is mitigating risk and the returns premium first-movers can extract from the sector.
The Strategic Investments Fund will target major infrastructure projects, becoming the third vehicle to be added to the NIIF platform.
New commitments from institutional investors have driven the renewables-focused asset manager closer to its €1.1bn target.
Half of that amount will come from Saudi Arabia’s Public Investment Fund as the firm aims to raise $10 billion to $15 billion before next March.
The vehicle has already made six investments in infrastructure managers from Europe, the US and Australia, equivalent to around 25% of capital raised.
The firm sees a growing opportunity set in infrastructure across both primary fundraising and secondary transactions.
The vehicle, which will focus on regulated assets mostly in Europe, is targeting an initial €2.5bn.
The collection of loans to green energy projects closed with a cornerstone investment from the Clean Energy Finance Corporation.
The fund’s predecessor is now 95 percent divested, while the new fund has made investments in Germany, France and Norway.
The fund has been seeded with a stake in a 185MW portfolio, with future India-focused vehicle launches under consideration.
The mid-market fund manager has already committed around $200m from its sophomore vehicle.
The two sovereign wealth funds are investing an additional $395.4m in Greenko as the Indian renewables developer acquires a smaller rival.
The Japanese insurer has emerged as an anchor investor in M&G’s European infrastructure debt fund as the UK asset manager looks to raise €286m from Asian LPs.
RM Funds is launching an open-ended lower risk/return alternatives fund to cater to investor caution in the face of an increasingly challenging macro environment.
The vehicle raised more than €500m beyond the hard-cap in its latest round, with a third series in the offing.