Commerz Real launches second renewables fund
Commerz Real has launched its second renewables fund, Commerz Real Institutional Renewable Energies Fund II, that seeks to invest in onshore and offshore wind farms, solar farms and other assets.
Commerz Real will acquire as much as EUR500 million (US$545.91 million) from institutional investors. The first investments have been made with the acquisition of a wind farm near Parchim in Mecklenburg-West Pomerania and a shareholding in the second-largest German offshore wind farm, Veja Mate.
The fund is structured as a SICAV-RAIF (SICAV = Société d’investissement à capital variable, an investment company with variable capital; RAIF = reserved alternative investment fund) in the legal form of an SCA (Société en commandite par actions, a partnership limited by shares).
In geographical terms, the investment focus is on Europe. As much as 25 percent of the investments can also be made in other OECD countries. While the risk profile is geared to 75 percent towards core/core plus, as much as 25 percent may be invested in the risk classes value-added/opportunistic.
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