KGAL Group raises €382m

The Germany-based investment and asset manager receives support from European investors.

KGAL ESPF 4 has raised €382 million at second close, after receiving commitments from five European investors in the latest fundraising round. The Europe-focused fund has a target of €500 million and a hard-cap of €600 million and will invest primarily in wind, solar and hydropower, through a core plus strategy.

The London Borough of Haringey Pension Fund, the European Investment Bank and Achmea Investment Management are among the limited partners committed to the fund.

Its predecessor, KGAL Enhanced Sustainable Power Fund 3 (ESPF 3), held a final close at €247 million in December 2015.