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French fund seals EUR 75m EIB commitment

A France-based fund manager has secured a EUR 75m LP commitment from the EIB for its latest renewable energy fund, for which it has a EUR 500m final target.   

Omnes Capital and the EIB signed off the latter’s investment in the Capenergie 4 fund last week (December 10), according to filings – the EIB typically cements LP commitments either just before or at the same time as a fund’s first close.  

As with its previous vehicles, Omnes’ fourth fund will take equity stakes in renewable energy IPPs, sharing in development and construction risk alongside its partners. However, part of its capital will also be deployed to operational assets. 

Capenergie 4 will largely focus on European markets – particularly in post-subsidy hotspots such as Nordic onshore wind and southern European solar PV – but will also look to allocate a small share of its  funds outside Europe.  

Omnes has over the course of 2019 been finalising deployment of capital from its EUR 245m Capenergie 3 fund raised in mid-2017.  

The group’s previous vehicle – EUR 134m Capenergie 2 – generated investors a net IRR of 15%, the fund manager announced in March 2019.  

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Categorised in: Solar, Onshore Wind

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