Global asset manager Algebris Investments announced today that it has raised over €260 million for its sustainable investing-focused private equity fund, Algebris Green Transition, at the most recent close of a €70 million fundraising round.
The firm said that it now has a €300 million fundraising target, which it aims to exceed in the coming months, although the goal falls short of the prior €400 million target announced last year.
Algebris Green Transition is the firm’s first private equity fund. The fund’s investment strategy focuses on key sustainable transformation pillars including Energy Transition, Circular Economy, and Smart Cities & Agritech, and aims to support companies in these areas through expansion, internationalisation, and consolidation.
Companies targeted for investment include those with proven earnings potential, resilient business models and sustainable long-term strategies, with a focus on businesses in Italy and more widely in Europe.
The fund, which is led by Managing Director Luca Valerio Camerano complies with Article 9 of the SFDR regulation.
“Our successful fundraising rounds to date and the quality of investors the fund has attracted confirm strong confidence in the long-term trends identified by the investment team, the depth of the team’s expertise at the industry level and our strategy for capital deployment.
“We firmly believe in the opportunity to create value for our investors, as well as the companies and entrepreneurs we invest in, through an evolving, active management style which seeks technologically-advanced opportunities and applies ESG variables.”