- Initial funding target of €300m has been surpassed
- The Fund’s strategic expansion continues, having completed five investments in green transition sectors to date
Milan, 30 July 2024 – The Algebris Green Transition Fund (the ‘Fund’), Algebris’ first private equity fund dedicated to investments in the green transition sectors, is pleased to announce the final close of its fundraising period, reaching a total of €380 million, significantly above its €300 million initial target. This result owes to the invaluable support of both national and international institutional investors, including pension funds, provident funds, banks, insurance companies and family offices.
The Fund, which had its first close in July 2022 at almost €200 million, reached €320 million in April 2024 and has raised commitments for an additional €60 million in the past three months.
To date, the Algebris Green Transition Fund has made several strategic investments aimed at promoting the energy, environmental and technological transition. In addition to Omnisyst, Datek22 and Esapro, the strategic transition consultancy OpenEconomics recently joined the Fund’s portfolio. Furthermore, the Aquanexa Group, which first acquired a majority stake in Datek22, has been further consolidated with the recent acquisitions of ID&A and Puglia Engineering.
The completed acquisitions confirm the Fund’s strategy of diversifying investments in various green transition sectors, promoting the adoption of innovative and competitive business models, including through the development of products, services and technologies that can effectively support industrial challenges related to climate change.
In addition to supporting the transition, the Fund is committed to working alongside entrepreneurs to bolster the creation and development of increasingly resilient societies. Through the focused approach of the team, which has extensive experience in the energy, environment and financial sectors, the Algebris Green Transition Fund helps companies to grow by creating value through strategic, operational, organisational and financial levers.
Luca Valerio Camerano, Managing Director and Senior Partner of the Algebris Green Transition Fund, commented: “We are delighted to have surpassed the challenging fundraising target we set ourselves. The entire investment team is motivated and determined to continue our journey with deep commitment and professionalism. The acquisitions we have already made are consistent with the objective and approach agreed with both our Italian and international investors of supporting partner companies on their path to growth within target markets. The Fund intends to continue its investment activity focused on the themes of the green transition, circular economy and smart cities & agritech.”
Besides Luca Valerio Camerano, the other two founders of the Algebris Green Transition Fund and Senior Partners are Francesco Becchelli and Matteo Tarchi.
The investment team also includes two Investment Directors, two Associates and two Analysts.
