Ambienta raises $150m for absolute return fund

Alessia Argentieri
06 May 2020

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Ambienta has launched AmbientaТ X Alpha, an absolute return fund dedicated to investing in the European and USТ public markets.

The fund has raised $150m so far and has a final target of $1-1.5bn, the GP told Unquote.

Ambienta X Alpha is a long/short fund entirely focused on environmental sustainability, primarily aimed at institutional investors.

The fund will take long positions in companies with strong competitive advantages that are able to capitalise on sustainability mega-trends. It will also take short positions in companies with disrupted business models or in need of an environmental-focused transformation.

Ambienta X Alpha is managed by a team based in London, led by chief investment officer Fabio Pecce – a fund manager with 20 years of market experience. Pecce will be joined by Andrew Benson, Joel Bird, Francesco Cavallo and Rob Moore, a group of investment, risk and operations professionals.

Ambienta X will target both institutional and private investors, but initially will only be open to investors that have historically backed Ambienta's private equity funds.

Nino Tronchetti Provera, founder and managing partner of Ambienta, said in a statement: "By combining our leading environmental sustainability expertise with public markets best practices, I am confident that Ambienta X will confirm Ambienta's unique capability to deliver top decile financial performance based on solid and measurable environmental angles."

Ambienta has also recently launched BG Alpha Green in partnership with Banca Generali; the new vehicle follows a similar strategy, dedicated to the lender's private clients.

In the private equity space, the GP is currently deploying its Ambienta III fund, which held a first and final close on €635m in May 2018, hitting its hard-cap and exceeding its original €500m target.

The fund targets European companies driven by environmental trends and focused on sustainability that specialise in products able to reduce pollution and providing an efficient use of natural resources.