Image via WikipediaSUSI Partners AG completed the first closing of its SUSI Sustainable Euro Fund I for EUR 15 million.
This initial amount will allow the fund to finance European solar and wind projects totaling approximately EUR 75 million, the group said.
Tobias Reichmuth, CEO of SUSI Partners AG said he anticipates a second closing for March 2011 around EUR 40 million before our final closing December 2011, targeting EUR 100 million.
“This is a very noteworthy achievement for our fund--especially considering the difficult fund raising environment. We successfully reach our first closing after a mere four months of issuing, testifying investor confidence in our investment approach."
For this fund raising, the SUSI Partners said it capitalized on several key factors, including growing interest of family offices and high net worth private investors who want to make a contribution to correcting climate change.
The fund has already committed equity in several projects in France and Germany, and has a pipeline of solar and wind investments requiring over EUR 400 million in financing.
SUSI Sustainable Euro I offers investors access to sustainable investments in renewable energy infrastructure in Germany, Italy, France, and Belgium. The fund invests in solar and wind parks, which have turn-key status or are fully operational.
The Fund’s core objective is to deliver double digit IRR with minimal risk and simultaneously offering an ideal instrument for portfolio diversification, while supporting Europe’s energy independence and contributing to the control of global warming. There is no foreign exchange rate risk within the fund as all investments are made in Euro.
SUSI Sustainable Euro Fund I is a SICAV/SIF fund domiciled in Luxembourg. Sustainable SARL (Luxembourg) serves as general partner; SUSI Partners AG is the fund advisor.
SUSI Partners AG is a socially and ecologically responsible Swiss investment house offering qualified investors alternatives to diversify their portfolio with sustainable investments.