Algebris Investments’ first private equity fund, the Algebris Green Transition Fund has closed its first fundraising round with commitments of €200 million.
Committed investors include institutional entities in Italy and more widely in Europe. Algebris is targeting a total raise of €400 million over the next twelve months.
The fund is at the frontier of sustainable investing and is managed in accordance with Article 9 of the EU Sustainable Finance Disclosure Regulation. The investment strategy is built on three pillars: (i) energy transition, (ii) circular economy and (iii) smart cities and agritech. The Fund will invest in companies that exhibit proven earnings potential, resilient business models and sustainable long-term strategies, fostering their expansion, internationalisation, and consolidation. The Fund will also consider investment opportunities in other Southern EU countries.
The fund is managed by a leading industrial team headed by Luca Valerio Camerano, Managing Director at Algebris, and former CEO of A2A, the largest multi-utility company in Italy. The other founding members of the team, Francesco Becchelli and Matteo Tarchi, joined Algebris in the first half of 2021. The three founders have worked together for many years and retain 50-plus years of combined experience in the green sector. The portfolio management team’s track record includes 40-plus transactions valued at c €4 billion completed over the last five years. Other members of the team currently include one Investment Director, one Investment Manager and two Associates.
Luca Valerio Camerano, Managing Director at Algebris Investments commented; “In the current political-economic environment, investments in alternative asset classes, combined with green strategies, offer attractive opportunities to investors in terms of returns and real ESG value.
The Algebris Green Transition Fund represents a unique solution to take advantage of the forces that are reshaping the economy, and at the same time, it represents a concrete access to investments related to a more sustainable future. The stakeholders in the market and society demand industrial solutions capable of credibly combining development and sustainability. The development of technologies and the growing endowment of institutional resources will support this transition. Investors’ interest in this space and in this initiative continues to grow, and we are confident of reaching our ambitious fundraising targets at subsequent closings.”
The Fund is incorporated as a common limited partnership under Luxembourg law and is reserved to professional investors only.
