Pearl Infrastructure Capital reaches first close

Pearl Advisory and Edmond de Rothschild have announced the EUR162 million (US$182.74 million) first close on its Pearl Infrastructure Capital, a fund focused on energy transition investments. 

The Fund is dedicated to European assets in the energy and environmental transition. It will primarily focus on greenfield mid-sized projects with capex requirements of between EUR25 million (US$28 million) and EUR100 million (US$112 million), but he will also be able to take a position on early brownfield issues. In infrastructure, the firm has been working alongside with TIIC, a transport infrastructure investment company supported by Brisa, Millenium BCP, and LA Compagnie Benjamin Rothschild, since 2006. 

Pearl Advisory was entrusted with the management of the Fund. The vehicle company is headed by Jean-Christophe Guimard, the former founder and CEO of Néréa, a manufacturer of industrial biomass cogeneration boilers. It is currently composed of nine professionals and aims to bring together fifteen, eventually. As usual, Edmond de Rothschild opts for a partnership model for its developments in private capital, since it holds 25% of this management company - the balance belongs to the management team. Beyond the contribution of its sponsor of 5% of the fundraising (excluding direct investment of the Rothschild family), Pearl Infrastructure Capital was able to benefit from the support of the Caisse des Dépôts et Consignations and the European Investment Bank., who each contributed EUR30 million (US$33.6 million) to this exercise.