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Omnes exceeds €200m target for renewables fund

The private equity firm is eyeing a final closing in May for Capenergie 3, while it continues to seek funds for an energy efficiency vehicle.

French private equity company Omnes Capital said in a statement that it has exceeded its €200 million target for its third renewables fund, as it heads towards a May final close.

Capenergie 3 is now set to hit its €250 million hard cap and it's initial intentions were to leverage up to €1 billion of investment in 750MW across the wind, solar, hydropower and heat sectors in Europe. Its most recent deal was the acquisition of a 12MW wind farm from German developer BayWa and the fund's total portfolio stands at 170MW across four projects.

The French manager launched the fund in July 2015, upon which it secured a €50 million commitment from the European Investment Bank. The vehicle was Omnes’ first renewables effort since it became independent from Crédit Agricole. The firm is currently in the throes of exiting Capenergie 2, a process that included the sale of its stake in French wind developer Valorem to 3i Infrastructure in September.

Omnes also said it is continuing to raise funds for its Construction Energie Plus fund, a €100 million vehicle to finance energy efficiency measures in public and private buildings.

“Our ambitions are clear: to consolidate our position as a direct investor in France and Europe, capitalise on the strength of our multi-manager model and double our assets under management by 2020,” chief executive Fabien Prévost said.

Omnes has about €3 billion in assets under management across its private equity and infrastructure investments.