Ambienta closes third fund on €635m

The fund, which closed after less than three months of fundraising, is almost double the size of its predecessor, Ambienta II, which held a final close in November 2014 on €323.5m.

The previous vehicle was 65% deployed as of July last year, according to Unquote Data.

Rede Partners was acting as placement agent for the Ambienta III fundraise, Unquote understands.

Investors
Ambienta III attracted capital commitments from around 50 global investors, including pension funds, insurance companies, funds-of-funds, banks and foundations. Approximately 75% of the investor base came from continental Europe, 15% from the UK and 10% from the US.

The fund received strong support from its existing LP base, with those seeking to re-up aiming to exceed their prior commitments.

Investments
The fund will target European companies driven by environmental trends and focused on sustainability, which specialise in offering products able to reduce pollution and providing an efficient use of natural resources. Geographically, the firm will invest in Ambienta's core markets, which include Italy and Germany, but will also grow its UK team and will progressively look for investment opportunities in France and the Nordic region.

People
Ambienta – Nino Tronchetti Provera (managing partner).

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