AB CarVal, part of leading global investment management firm AllianceBernstein L.P., has completed the final close of CVI Clean Energy Fund II (CEF II) with US$1.5 billion in total capital commitments to the energy transition strategy.
CEF II is a continuation of AB CarVal's platform for renewable energy private debt transactions. The Fund focuses on credit and hard-asset investments in the clean energy sector, primarily in North America and Europe. The Fund has received commitments from both new and existing limited partners, representing a cross-section of corporate pension funds, sovereign wealth funds, private banks, endowments, foundations, funds of funds, family offices, and high-net-worth individuals.
AB CarVal's first Clean Energy Fund closed in 2021, with US$490 million in total capital commitments. This is the firm's first fund closing since being acquired by AllianceBernstein in 2022.