Swiss green investment firm SUSI Partners has held a first close of €65m for its energy efficiency fund, beating its expectations of a €50m closing.
The firm said that it can use leverage of up to 50 per cent on project level, which means it has €130m available for investment in energy efficiency projects.
The fund, which is capped at €300m, has been backed by insurance companies, pension funds and large foundations from Germany and Switzerland.
In the second quarter, SUSI expects to hold a first closing for the part of the fund denominated in Swiss francs, which will invest in Switzerland-based projects.
SUSI CEO Tobias Reichmuth said, “This immediate fundraising success shows the attractiveness of our second fund given the current low interest rates. Also the fact that the fund qualifies as debt instrument under Solvency II supports our product.”
In March last year SUSI appointed former Swiss president Moritz Leuenberger to its board of directors.
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