Ambienta II holds €323.5m final close

Ambienta II held a first close on €147.2m in October 2013 and a €200.2m second close shortly afterwards, in January this year.

The fund has a vanilla structure, though it comprises two sub-vehicles to suit the legal requirements of international and Italian LPs.

The GP stated Ambienta II closed ahead of schedule.

Rede Partners acted as placement agent for the vehicle.

Investors
Commitments to the fund came from new and existing investors, including pension funds, insurance companies, funds-of-funds and family offices in Europe and the US.

International LPs include the European Investment Fund, Generali, HarbourVest, Hermes, Pantheon, RobecoSAM, Stafford Capital Partners, Unigestion and Zurich Insurance Group. Italian investors including CNPADC, Fondazione Enasarco, Intesa Sanpaolo, Fondo Italiano di Investimento and Poste Vita also made commitments.

Investments
Ambienta II will invest in European companies focused on resource efficiency, gas and pollution-control technologies. The fund will invest in 10-15 companies and follow an acquisitive growth strategy.

International expansion will be the central fund strategy; more than 85% of revenues generated by portfolio companies in Ambienta I originate outside of Italy.

The fund made its maiden investment this summer, wholly acquiring IP Cleaning, an Italian equipment manufacturer for the cleaning sector. The acquisition involved a €50m equity investment and a refinancing package for the company’s existing debt.

People
Nino Tronchetti Provera, Rolando Polli and Mauro Roversi are co-founders of Ambienta.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyout
• Southern Europe
• Italy
• Ambienta
• Cleantech