Mirova’s sixth European energy transition financing infrastructure fund is now over halfway to its €2bn fundraising target.
The manager said the Mirova Energy Transition 6 (MET6) fund secured €1.2bn in commitments for its second close in August, as it attracted capital from a mix of both previous investors and new partners.
Mirova launched MET6 in October 2023. The Natixis Investment Managers affiliate raised €1.6bn in September the year before for MET5, the previous fund in the series, which was backed by Dutch pension fund PME.
MET6, which targets sectors like renewable energy production, energy storage, low-carbon mobility and energy efficiency, has so far deployed over €960m across 10 investments.
Among its investments, MET6 committed €200m to European renewable energy company RP Global and A$$72m (€43.3m) to Melbourne-based electric vehicle charging firm JET Charge. The fund also acquired an undisclosed majority stake in a venture with 33 Italian solar photovoltaic projects and backed Neot, a low-carbon transportation provider, as part of a €350m equity commitment by long-standing partners.
Raphael Lance, deputy general manager, global head of private assets, head of energy transition funds at Mirova, said: “Institutional investors continue to show strong appetite for energy transition infrastructure, drawn by its potential to deliver stable, long-term returns while aligning with global decarbonisation goals.
“The asset class stands out for its resilience, depth, and capacity to generate predictable cash flows, especially in a volatile macroeconomic environment.”
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