SUSI Partners has held a second close for SUSI Energy Efficiency Fund II (SEEF II) at €148.6 million. The fund has a minimum target size of €300 million, held a first close at €45.4 million in January, and is expected to be open to investors until at least the end of 2019.
It will follow a similar strategy as its predecessor, investing in industrial and streetlighting LED retrofits, HVAC, heat pump, combined heat and power upgrades, and the refurbishment of public buildings. Unlike Fund I, which invested in assets exclusively in Europe, Fund II will deploy 20 percent of its capital in other OECD markets, particularly the US.
SUSI Energy Efficiency Fund I held a final close at €200 million in June 2015.