The Fortis Investments Clean Energy Infra Fund has reached a first close of €158 million with a number of institutional investors making commitments.
Fortis Investments said in a statement that it had received a cornerstone investment from Dutch pension fund Pensioenfonds Zorg en Welzijn, as well as securing a further investment from Pensioenfonds Grafische Bedrijven, another Netherlands-based pension fund. Fortis said it had also received commitments from investors in Belgium and Japan.
The fund’s founding investor is BNP Paribas Fortis, formerly Fortis Bank, which has provided an investment of €50 million.
The Clean Energy Infra Fund was launched in September 2008 and targets assets in the on-shore wind, small-scale hydro, solar photovoltaic and biomass sectors.
The fund is remaining open for further subscriptions. It has a final target size of €450 million.