KGAL raises EUR260mn first close on its Enhanced Sustainable Power Fund 5

Investment and asset manager KGAL Group has raised EUR260 million (US$293.62 million) first close of its Enhanced Sustainable Power Fund 5 securing more than half of the target. 

Insurance companies, pension funds, impact investment managers, and family offices across Europe have contributed to the launch of KGAL’s ESPF 5 renewable energy impact fund. Existing clients represent two-thirds of the first closing.

KGAL ESPF 5 has a large, broadly diversified transaction pipeline that, once implemented, would draw all of the current equity commitments. The first fund investment is a late-stage PV solar project development in Sicily with a planned installed capacity of over 100 megawatts.