Private equity firm Zouk Capital has raised more than four times the amount of its debut Renewable Energy & Environmental Infrastructure Fund closing the follow up on €220m.
The oversubscribed Fund II will be used to finance the construction and operational improvement within areas such as waste-to-energy, geothermal, biomass, storage and energy efficiency.
Zouk’s first renewable energy vehicle closed on €52m in 2008, with the firm saying the plan was to start small and aim higher for the follow up.
LPs committed to the second vehicle include institutions from around the globe, said Zouk, including public pension funds, sovereign wealth funds, funds of funds, corporates and large family offices.
CEO Samer Salty said, “Zouk’s infrastructure Partners, Colin Campbell and Erich Becker, offer a genuinely differentiated approach to investing in Europe’s renewable energy market, one which the success of our first fund demonstrates by combining high returns, specialist sector expertise and rigorous risk management.
“Zouk’s team is one of few proven to have the skills to capitalise on the renewable energy opportunity and generate strong realised returns.”
The latest fundraise brings the firm’s assets under management to €600m.
Last week announced it had sold a second solar photovoltaic portfolio to Aviva Investors.
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