Sosteneo SGR S.p.A. (“Sosteneo”), part of Generali Investments, is pleased to announce that Sosteneo Clean Energy Infrastructure Fund II SCA SICAV-RAIF (“Fund II”) has completed its first external close, securing over €150 million in new fund commitments and co-investment capital. The close brings total capital commitments for the Fund II vintage to over €450 million and Sosteneo’s platform capital to over €1.1 billion.

The first external close marks an important milestone in the Fund II fundraising programme, including a re-up from the largest external institutional investor in Sosteneo Clean Energy Infrastructure Fund SCA SICAV-RAIF (“Fund I”), commitments from new institutional investors, and an increased commitment from Generali Insurance Companies, the cornerstone investor in Sosteneo’s flagship funds. Together, these commitments further broaden and deepen Sosteneo’s institutional investor base.

Chris Deves, Partner and Head of Investor Relations at Sosteneo, commented:

“This is an important milestone for Fund II. We are pleased to have the renewed support of an existing institutional investor, alongside commitments from new investors. We see this as a strong endorsement of our strategy and the progress we have made to date. The close also further broadens our institutional investor base and provides a strong foundation as we continue the Fund II raise.”

The Fund II close comes as Fund I continues to progress in line with expectations, with the portfolio increasingly transitioning into its operational phase.

Around three quarters of Fund I’s 39 projects are now fully operational. In Q2, Fund I commenced distributions to investors from income generated by operating portfolio assets. In Q3, Fund I also signed the sale of an interest in an operating asset, representing the fund’s first partial realisation.

You can now read the full press release at the link below