Platina Partners has closed its fourth renewable energy-focused fund on €209 million, expanding its investor base to include banks, fund of funds and pensions from across Europe.
The European Renewable Energy Fund has about €150 million of uncommitted capital ready to invest that will target renewable electricity generation assets and growing independent renewable power producers. The firm looks for projects at all stages of development, with typical enterprise values for operational assets of €20 million to €200 million.
The firm has completed nine investments from the fund, with two already under construction: Orites wind farm, the first independent power producer and wind farm in Cyprus, and Arico, a solar photovoltaic plant in Spain.
“For us, this was a deliberate step up,” Thomas Rottner, managing partner of Platina Partners, told PEO. “Projects have grown, and we're seeing more investor interest.”
New investors in Platina’s fund include Access Capital Partners, the European Investment Bank, Euro Private Equity, the Finnish State Pension Fund and Partners Group.
The firm used Campbell Lutyens as placement agent and financial advisor.
Platina has two business lines – the renewable investment group and a buyout/distressed investment team that operates out of Paris.
The firm has raised three prior renewable energy funds, staring with its first, Mistral Energy I, which collected €20 million in 2002. The second and third energy funds – Mistral Energy II and III – collected €30 million and €56 million in 2007.
Platina's buyouts business works with two funds, the first of which totals €45 million and the second with €60 million.
Platina collects €209m for fourth renewables fund
The Paris and London-based private equity firm has added several new investors to its roster, including France-based fund of funds Access Capital Partners.
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