Vortex Energy achieves US$200mn first close for its fourth Energy Fund

Vortex Energy, a global renewable energy platform managed by the private equity arm of EFG Hermes, has reached a first close of US$200 million (including a US$25 million conditional commitment) for its fourth fund, which is anchored by EFG Hermes and Abu Dhabi sovereign institutional investors and family offices, among others. 

Vortex Energy has been successfully pursuing renewable energy investments, completing the full cycle of investment and divestment of c. 822 MWs of wind and solar energy assets in Europe.

Vortex Energy IV will target all energy transition verticals, including generation (utility scale solar PV, on/offshore wind, hydropower, biomass, distributed generation), storage, EV charging facilities, as well as supply- and demand-side energy services. The fund scope covers the entire asset lifecycle including operating plants, IPPs, development companies, greenfield, and commercial and industrial solutions. The geographical focus is on developed and developing European countries, North America, Latin America, and Australia.

Karim Moussa, Asset Management at EFG Hermes and CEO of Vortex Energy, said: "We are very excited about the launch of Vortex Energy IV; the global opportunity is clear and tangible, with renewable energy becoming mainstream. We expect with more net-zero policies and major decarbonizing initiatives to see additions in renewable energy generation of c. 2 TW and investments of c. USD 3 trillion by 2030 globally. We are also excited to continue building our business and investor base to reach our target size for the fund of USD 750 million within the coming two years."

Chimera Capital acted as a strategic advisor to Vortex Energy in relation to ADGM. White & Case provided legal advisory, PwC lent structuring services, and Apex administration support.