SUSI Partners is financing electric vehicle (EV) charging infrastructure in the US through an agreement with OBE Power.

The Swiss fund manager, investing on behalf of its Energy Efficiency Fund II (SEEF II) fund, has signed the framework agreement with the EV-charging infrastructure owner and operator.

The deal is expected to help OBE Power’s plan to expand from a regional footprint in Florida and Texas to a national presence across the US.

The transaction represents SUSI’s first investment in EV-charging infrastructure and its first credit investment outside of Europe.

SUSI said the investment with OBE Power will be among the final transactions funded by SEEF II, as the fund is expected to be fully invested more than a year ahead of its investment period ending. 

SEEF II, SUSI’s second energy efficiency fund, raised €289m at its final close in May 2020.

The manager is currently raising capital for a successor vehicle, the SUSI Energy Efficiency and Transition Credit Fund (SEETCF), which had a first closing at the end of 2022.

SEETCF, which has a target size of €400m, will invest mainly in Europe and some OECD markets.

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