Eland to raise third fund

01 April 2009

Tweet
Facebook
LinkedIn
Google plus
Send to

Fund

Eland Private Equity has launched Eland Energias Renovables III, a EUR30-35m fund designed to invest in solar energy projects. The vehicle, based in Spain, has a 10+1+1 lifespan. Minimum subscription has been set at EUR500,000, with the GP contributing more than 6% to the fund. Management fees, carry and hurdle are at 1.5%, 20% and 10% respectively. Rodes&Sala Abogados has been retained as legal adviser.

Investment

The vehicle will invest in operational projects with steady cash flows mostly based in central and southern Spain, where the sun exposure is optimal. It will carry out five to seven investments in solar energy projects and expects to deploy between EUR150-180m (with leverage); building a 25-35MW portfolio.

Through its previous two funds, the firm has invested EUR152m in photovoltaic projects and operates seven facilities located in Castilla La Mancha and Levante with an aggregate capacity of more than 20MW.

People

Established in 2005, Eland Private Equity is co-managed by chairman and managing director Miguel Domenech Martinez, formerly director of Explosivos Rio Tinto and adviser to Atlas Copco and RTVE. He is supported by investment director Adolfo Carvajal Isla, who was previously managing director of Citigroup Global Markets.

Name: Eland Energias Renovables III

Launched: February 2009

Target: EUR30-35m

Focus: Solar energy projects

Contact: Miguel Domenech Martinez

Adolfo Carvajal

Address: Calle Serrano, 114, 10

28006 Madrid

Spain

Tel: +34 91 411 10 04

Fax: +34 91 563 00 24

www.elandpe.com