Siqalane Taho

After a wave of investment in the early 2020s, both the US and Europe are seeing a changing renewable energy landscape as managers and investors grapple with how the past has shaped the present.

Small- to mid-market investment solutions generate returns roughly 200 basis points higher than their mid-to-large cap counterparts, the manager estimates.

Alastair Hall was among the leaders that handled the firm’s challenging investment in UK utility Thames Water, which led to the full write-down of its approximately $1.3bn investment.

The move stalls a fund that aimed to reach a €500m first close by the end of 2025 and hit its €1bn hard-cap in Q3 2026.

This fund represents the manager’s first fundraise outside of its network and core group of long-standing investors, and has achieved a two-thirds re-up rate to date.

The manager weathered a challenging fundraising market to close over €150m above its target, boosted by strong support from existing investors.

The manager has already deployed almost 60% of its capital and expects to be fully deployed in the next 18-24 months.

Investors are flocking to infra debt as they search for greater security of capital and visibility on their investments.

The manager is also anticipating a €100m first close for its maiden agricultural strategy by end of 2025.

The fund represents the single biggest capital raise by the manager, boosted by strong support from existing investors.