ACP Capital launches open-ended fund

01 June 2008

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Fund

Merchant bank and asset manager ACP Capital Limited has launched ACP Capital NextEnergy Initiative Limited (ACPNE) with initial commitments of EUR50m. The Cyprus-based ACPNE is an open-ended vehicle.

Investors

The fund is owned by ACP (94%) and NextEnergy Capital (6%) and represents the first investment for ACP Capital's planned infrastructure fund, ACP Capital Infrastructure (ACPI). ACPI is expected to be launched in 2008 and will invest throughout Europe in infrastructure assets such as railcars, containers, transport and renewable energy.

Investments

ACPNE is set to carry out the bulk of its investments in Italy and Southern Europe investing between EUR2-10m in equity per transaction and seeking majority positions in renewable energy projects (wind farms, photovoltaic, hydro plants) at all development stages. Co-investments are not part of the core strategy.

People

The fund is managed by Alexander Koch who has over nine years' experience in finance and business development, including five years at Credit Suisse First Boston in London and two years at The Boston Consulting Group in Frankfurt. Most recently, Koch was a vice president of Merrill Lynch's Energy and Power Group, focusing on the German, Austrian, Central and Eastern European, and Russian utility and infrastructure sectors. He will be supported by Michael Bonte-Friedheim and Stefano Sommadossi, principals for the sourcing and operation of renewable energy opportunities.

Name: ACP Capital NextEnergy Initiative Limited

Launched on: EUR50m

Focus: Italy, Southern Europe, renewables

Contact: Alexander Koch

Address: ACP Capital Ltd, Ordnance House, 31 Pier Road, St Helier, Jersey, JE4 8PW

Tel: +44 (0)844 800 4530

Fax: +44 (0)808 208 3437.