Vision Ridge Partners has secured around $2.4bn (€2.02bn) for its latest sustainable real assets strategy.
The fund manager said the capital for the Sustainable Asset Fund IV (SAF IV) fund and its related vehicles was received from a global mix of existing limited partners and new investors. Commitments were sourced from sovereign wealth funds, endowments, foundations and family offices, as well as public pensions and consultants.
The close of SAF IV follows the $1.25bn final close of SAF III in April 2021 and the $700m close of the SAF Annex Fund in January 2023.
SAF IV, which targets investments across the energy, transportation and agriculture sectors, has so far committed up to approximately 30% of its capital. The investments include GSSG Chikuden, a utility-scale battery storage developer in Japan; Vemo, a clean mobility platform in Mexico; and Pelican Energy TCI, the electric utility serving the Turks & Caicos Islands.
Reuben Munger, founder, managing partner and CIO of Vision Ridge, said: “Completing our largest fundraise since Vision Ridge’s inception just over a decade ago – and doing so during a period of uncertainty in the energy transition sector – we believe underscores the confidence investors have in our differentiated platform and time-tested team.
“We think the scale of SAF IV, coupled with our active, operations-driven approach to transforming complex assets, positions us to meaningfully improve climate change adaption, catalyze additional industry impact, and drive strong returns for our investors for years to come.”
Justin Goerke, founding partner and president at Vision Ridge, said: “Last year marked a strong period of growth and development for Vision Ridge.
“Looking ahead, we are excited to apply the same discipline that has defined our approach since day one as we continue to deploy SAF IV’s capital to targeted opportunities emblematic of our investment thesis. We are grateful for the trust and support of both new and longstanding investors and are energized by what lies ahead.”
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