Omnes announces the final close of its Capenergie 4 fund at €660m

Omnes announces the final close of its Capenergie 4 fund for a total amount of €660m. The fourth-generation fund, dedicated to investments in renewable energy, had a target size of €500m. Fundraising began at the end of 2019 and has now been completed, significantly exceeding the initial hard cap of €600m.

 The fund was subscribed to by both existing and many new French and international investors. LPs include among others the European Investment Bank, BPI France, as well as French and European insurance companies, pension funds, family offices, foundations, and funds of funds.

 Capenergie 4 will continue to follow the successful strategy of its predecessor funds: Capenergie 1 (€109m raised in 2006), Capenergie 2 (€145m raised in 2010 and having generated a net IRR of 15% and a net multiple of 2x), Capenergie 3 (€245m raised in 2017 and standing at a net IRR above 15%). The Capenergie fund strategy focusses on providing growth capital to European renewable energy developers and driving their transformation into independent power producers (IPPs).

Since its launch in 2019 and in parallel with its fundraising, Capenergie 4 has realized seven investments in leading European renewable energy developers which collectively hold a portfolio of over 300 projects amounting to a potential of over 10 GW across 14 European countries including but not limited to Germany, Spain, Finland, Ireland, Poland, Denmark, France and the Netherlands. The seventh and most recent deal saw Omnes raising €200m to invest in Finnish wind pioneer Ilmatar Energy. The company will develop, construct and operate a portfolio of 1 GW in Finland in the coming years.

“In less than 18 months we succeeded in raising €660m from top tier investors who recognize our expertise in transforming leading renewable energy developers into IPPs. During this time, we closed seven transactions, constituting a unique portfolio of over 10 GW spread over 14 European countries. We are proud of the success this activity has achieved since its launch at Omnes in 2006 and are honored by the trust received from our investors and developers. Thanks to their support and the hard work of the team, Capenergie 4 is shaping up to be an excellent fund vintage.” says Serge Savasta, Omnes managing partner.