Sustainable infrastructure investor Actis has raised over $4.7bn (€4.1bn) for its latest energy fund, exceeding the funds $4bn target.
The capital raised by Actis Energy 5 (AE5), gives the vehicle $6bn worth of investable capital to deploy globally, the manager said, adding that AE5 has already allocated capital to $4bn of energy transition opportunities.
Actis said AE5’s fundraise, which was via commitments and co-investment, saw sizeable limited partners (LP) re-ups as well as new commitments from a diversified investor base. The LP base includes pension funds, insurance companies, endowments, sovereign wealth funds and other investors from across the globe.
As previously reported, the Florida State Board of Administration made a $150m commitment to AE5. Other investors to back the fund include the Teacher Retirement System of Texas which made a $150m commitment, the Employees Retirement System of Texas which invested $75m and Denmark’s pension fund for industrial sector workers Industriens Pension putting in DKK1bn (€134m).
Torbjorn Caesar, a senior partner at Actis, said: “This is a ringing endorsement for our proven track record and a significant milestone for the firm as we continue to build our market position as a leading investor in sustainable infrastructure globally.”
Lucy Heintz, a partner and head of Actis’ energy business, said: “This is a humbling and gratifying moment. It is a real recognition of the Actis formula: the best people with world-class operational and value creation skills operating in an inclusive values-driven culture, unlocking opportunity wherever they find it.”
Neil Brown, partner and head of Actis’ investor development group, said: “It takes something special to raise a fund during a global pandemic - we raised this with our in-house team and this final close has exceeded expectations.”
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