Omnes Capital has launched a €100 million fund to invest in improving energy efficiency in public and private buildings in France.
The fund, which has a €50 million commitment from social welfare protection group Pro BTP, is targeting €100 million and an average target holding period of five years. It will focus on small-scale commercial projects that “go beyond applicable energy efficiency requirements”, the firm said in a statement. According to Omnes, this is the first French fund dedicated to energy efficiency.
Omnes has also launched a “Green Building” department of four investors to manage the fund, headed by managing director Serge Savasta. The firm has hired Gonzague de Trémiolles as a principal.
The infrastructure firm cited a French law pushing buildings to transition to energy efficiency as creating a market for high environmental performance buildings.
Previously a Crédit Agricole subsidiary until 2012, Omnes is an infrastructure private equity firm headquartered in Paris and managing €2.1 billion in assets. Earlier this year, Omnes sold a 100MW portfolio of solar and wind assets to Swiss asset manager EOS Holding. The company concluded its most recent fundraising last July on €100 million for its Capenergie 3 fund. At the time, Omnes said it would invest in small-to-medium-sized renewable assets to aggregate them into larger portfolios.