Omnes holds first close for Capenergie 4 on €380m

Launched in October 2019, the fund has a €500m target and a hard-cap set at €600m, according to a source familiar with the situation. A final close for the fund should take place by the end of 2020. 

Omnes is expecting the fund to generate a net investor IRR of 10%, the source added. 

The investment strategy has steadily collected more commitments over the years: Capenergie 1, Capenergie 2, Capenergie 3 respectively closed on €109m in 2006, €145m in 2010 and €245m in 2017. Capenergie 2 in particular generated a 15% net IRR and net multiple of 2x, according to a statement by Omnes.

No placement agent is being used for the fundraise. 

Investors
Omnes received support from its existing investor base, as well as from new French and international institutional investors. The European Investment Bank is supporting Capenergie 4 as a cornerstone investor with €75m, up from €45m in 2015 for Capenergie 3.

Investments
The fund's predecessor, Capenergie 3, made investments in small and medium-sized renewable energy infrastructure projects across Europe.

Capenergie 4 has completed its first deal, acquiring a minority shareholding interest in Denmark-based solar photovoltaic provider Better Energy in a €30m deal.

People
Omnes – Serge Savasta (managing partner).
European Investment Bank – Ambroise Fayolle (vice-president).

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