Ambienta closes largest private equity fund focused on environmental investing
BY AMBIENTA
Milan, 14 May 2018: Ambienta, a leading pan-European environmental growth investor, has held a first and final close for its third fund after less than three months of active marketing. With demand well in excess of €1 billion, the Fund surpassed its original €500 million target and hit its €635 million hard cap.
Ambienta III attracted capital commitments from close to 50 global investors representing total assets of €10 trillion. This included many leading pension funds, insurance companies, fund of funds, banks and foundations. Approximately 75% of the investor base came from continental Europe, 15% from the UK and 10% from the United States. Notably the fund received strong support from its existing LP base, with re-up demand in excess of 100% of prior commitments.
Ambienta is the largest independent fund globally that is dedicated to private equity investments that capture long term environmental growth trends. With offices in Milan, Dusseldorf and London, to date the firm has invested in 26 companies in eight European countries with revenues across over 100 geographies. The firm invests in niche leading companies underpinned by sustainable megatrends, notably resource efficiency and pollution control, combining exceptional financial returns with significant and quantifiable environmental impact.
This successful fundraise follows a very active 12 months for Ambienta. Its second fund is currently one of the best performing buyout funds for its vintage versus private equity funds globally – placing it in the top decile. Ambienta recently announced its second divestiture from Fund II, the exit of Oskar Nolte, and it has now returned over 100% of drawn commitments in less than five years.
Nino Tronchetti Provera, Managing Partner at Ambienta, added: “We are very pleased with the strong level of support we have received for Ambienta III and would like to take the opportunity to thank our new and existing partners for their backing. The successful fundraising comes in Ambienta’s tenth year and reflects the significant growth of the firm during that time, our proven performance and endorsement of our approach, and the increasing urgency of the trends supporting our strategy.”
Ambienta was advised by London-based Rede Partners, an independent fundraising and secondary advisor to the private equity industry.