nvestment boutique Sustainable Asset Management, together with its sector-agnostic parent Robeco, has completed the first close of its third generation cleantech private equity fund of funds on $200m.
The Robeco SAM Clean Tech Private Equity III Fund is a hybrid vehicle investing in primary and secondary global cleantech funds as well as selective co-investments.
Building on strong demand from global institutional investors, the firm said the programme is on course to reach its target of $500m.
The Robeco SAM Clean Tech Private Equity III Fund aims to benefit from the attractive risk-return profiles of investment opportunities in late stage technology deployment and project development, with a focus on renewable energy, energy efficiency and infrastructure, materials, recycling, green buildings, water and agriculture.
The firms said the fund taps a market driven by megatrends such as ageing infrastructure, resource scarcity and climate change as well as by increasing government regulation aimed at securing energy supplies.
The fund’s predecessor, Robeco Clean Tech Private Equity II Fund, was launched in 2006.
SAM was founded in 1995 and is headquartered in Zurich, Switzerland. In December 2009, SAM’s assets totalled $14.8bn.
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