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New LPs help Foresight pass €880m for sustainable energy infra fundraise, co-investments

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Private equity and infrastructure manager Foresight Group has passed €880m of LP capital for its Foresight Energy Infrastructure Partners fundraise.

The firm has collected about €716m for an interim close of the fund and another €170m in co-investment capital.

FEIP has brought in about €285m of new capital since its last interim close in January, with new investors including LCIV Renewable Infrastructure Fund and other UK and Swedish investors.

Foresight hit a €342m first close for the fund at the start of 2020. Backers at that stage included DNB, PRI Pensionsgaranti, Arcano Earth Fund, IMAS Foundation, and the European Investment Bank, while contributions since have also come from Postens Pensionsstiftelse, among others.

The fund will focus on low-carbon energy infrastructure assets predominately located in Europe. These assets include wind, solar and hydropower assets as well as energy storage assets and transmission and distribution assets.

FEIP has made four investments to date, with new investments in a 16.8 MW Italian energy-from-waste plant and a 88 MW onshore wind farm in Finland announced in May.

Nigel Aitchison, Foresight’s head of infrastructure, said, “This latest FEIP close shows once again that investor appetite for Foresight’s sustainability-led strategies is continuing to grow, while a strong pipeline of potential investment targets has also been supporting the fundraising process.”

Worthwhile Capital Partners is acting as placement agent for the Nordic region and Astrid Advisors for Europe outside the Nordics. Ashurst acted as legal advisor.

Copyright © 2021 AltAssets

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/specialist-pe-sectors/new-lps-help-foresight-pass-e880m-for-sustainable-energy-infra-fundraise-co-investments.html

Private Equity

West-LA Shamrock Capital Advisors raises $1B fund for Media, Entertainment, & Communications businesses

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Private Equity

Berkeley Energy’s Africa Renewable Energy Fund II secures €130m as DFIs pour capital into vehicle

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Green energy investment house Berkeley Energy has hit a €130m for its Africa Renewable Energy Fund II, putting it almo

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Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/berkeley-energys-africa-renewable-energy-fund-ii-secures-e130m-as-dfis-pour-capital-into-vehicle.html

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Private Equity

Peter Thiel backs Norway’s SNÖ Ventures as firm eyes $100m for Fund II raise

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Norway’s SNÖ Ventures has picked up backing from billionaire entrepreneur Peter Thiel for its $100m-targeting second fundraise.

Norwegian pension fund KLP, Investinor and Northzone co-founder Karl Christian Agerup are also committed to SNÖ Fund I, which has held its first close.

The firm, which targets seed and Series A companies, said it planned to expand into the Swedish and Danish markets.

SNÖ partner Max Samuel, who recently joined the firm from Thiel Capital, said, “The unique cultural, economic and geographic traits of the Nordics contribute to the success of its thriving startup ecosystem.

“We aim to enhance this ecosystem by facilitating the sharing of resources, talent, ideas and experience throughout the Nordic region, and by leveraging our international networks to support Nordic companies in their global expansion.”

Thiel will also join the firm as a strategic partner in addition to his investment.

SNÖ, which was founded in 2015, has recently invested in companies including PortalOne alongside Theil’s Founders Fund, Seedcamp and Kitemaker.

Copyright © 2021 AltAssets

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/peter-thiel-backs-norways-sno-ventures-as-firm-eyes-100m-for-fund-ii-raise.html

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Private Equity

Synova’s second deal this week sees it pick up Orbis stake, EV understood to be £75m to £100m

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European growth investor Synova has scored its second deal of the week by picking up vacant property security business O

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