Omnes closes Capenergie 4 on €660m

Launched in October 2019, the fund had a €500m target and a hard-cap initially set at €600m. It went on to reach a first close on €380m in early 2020, prior to the Covid-19 outbreak; at the time, Unquote reported that a final close was anticipated before the end of 2020.

Omnes is expecting the fund to generate a net investor IRR of 10%, a source close to the situation told Unquote at the time of the first close.

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. Capenergie 3 currently reports a net IRR in excess of 15%, the firm said.

No placement agent was used for the fundraise.

Investors
Omnes received support from its existing investor base, as well as from new institutional investors. At the time of the first close, the European Investment Bank backed the fund as a cornerstone investor with €75m, up from €45m in 2015 for Capenergie 3.

Other LPs include BPI France as well as French and European insurance companies, pension funds, family offices, foundations and funds-of-funds.

Investments
The Capenergie funds make investments in small and medium-sized renewable energy infrastructure projects across Europe.

Capenergie 4 has completed seven deals to date, according to Omnes.

People
Omnes – Serge Savasta (managing partner).

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