Omnes reaches first close for Capenergie 4 fund

The Paris-based investor in private equity and infrastructure Omnes has secured the first close of its fourth-generation fund dedicated to renewable energy, Capenergie 4, at with EUR380 million (US$418.04 million) commitments.

The Fund, with a target size of EUR500 million (US$550.95 million), has obtained support from the European Investment Bank with EUR75 million (US$82.6 million) commitment. 

Capenergie 4 follows in the footsteps of the successful previous vintages: Capenergie 1, Capenergie 2 (15% investor net IRR and investor net multiple of 2x), Capenergie 3 funds, which raised EUR109 million (US$120 million) in 2006, EUR145 million (US$159.78 million) in 2010 and EUR245 million (US$267 million) in 2017 respectively. The objective of the Capenergie funds is to provide European renewables developers with growth capital to help them transform into independent power producers.

Omnes Capital has also announced the acquisition of the minority stake in Danish solar energy provider Better Energy through the Capenergie 4 fund. Better Energy is currently developing 5 GW of solar projects at different stages in Denmark and Poland and is aiming to speed up its transition to become an independent power producer