HitecVision has held a final close on the HitecVision New Energy Fund (NEF), oversubscribed at the fund’s hard cap of EUR875 million, exceeding its EUR500 million target. In addition, €175 million in co-investment capital has been raised for Vårgrønn, the fund’s first offshore wind investment, meaning that HitecVision will deploy €1.050 million for its new energy transition strategy.
The New Energy Fund is HitecVision’s first non-oil & gas fund, and is defined as an Article 8 (light green) fund under EU’s SFDR. The Fund has already deployed €540 million across three investments in onshore and offshore wind power, district heating with carbon capture, and other energy transition initiatives, illustrating HitecVision’s strength of relationships and ability to execute on its new strategic focus.
NEF has received strong support both from existing investors and from a number of new blue-chip investors from Europe and the US. Among the Fund’s investors are: AIMS Imprint group of Goldman Sachs Asset Management; Ardian; Första AP-fonden (AP1); KLP; LACERA (Los Angeles County Employees Retirement Association); Manulife Financial Corporation and Sparebank1 Forsikring.
Read more: Private Equity Wire
