Omnes, a leading Paris-based private equity and infrastructure firm, is thrilled to announce that its renewable energy fund Capenergie 5 has reached an impressive milestone by securing over €1 billion in commitments in less than a year since the start of fundraising. This is the largest fundraising for Omnes to date. The firm, with €5.7 billion assets under management, is scheduled to reach the target size of €1.35 billion for Capenergie 5 by the first semester 2024.
This significant accomplishment marks the highest fundraising in Omnes’s history and demonstrates the success of Omnes’ historical positioning as a sustainable finance investor with a focus on renewable energy, sustainable cities, deeptech and co-investment.
For Serge Savasta, who launched Omnes’ renewable energy strategy in 2006 and took the reins of Omnes as CEO earlier this year, this achievement unequivocally demonstrates the success of Omnes’ strategy, “In the current market environment, reaching €1 billion in fundraising for Capenergie 5 within a few months is a testament to our track record and unique positioning. It is of course a significant milestone for Omnes, and the beginning of a new chapter, full of opportunities, in which our primary focus will stay the same: to deliver superior returns to our investors in all of our strategies, with a positive impact for future generations.”
Managing Partner, Michael Pollan shared his perspective on the significance of this milestone, stating, “The impressive fundraising of Capenergie 5 demonstrates the success of our positioning. We provide capital to renewable energy developers and partner with them as they transform into independent power producers. It is a strategy that we have honed over the past 17 years, with the successful track record of our past 4 vintages, generating a net average IRR of over 15%.”
Since 2006, Omnes has deployed, through all of its activities, €2.5 billion in over 60 investments in renewable energy companies across Europe. After just a few months, the Capenergie 5 project portfolio already counts 5 European renewable energy developers with a presence in 10 countries. Their collective project pipeline is strongly diversified and currently amounts to 369 underlying projects in solar PV, onshore wind and battery storage with a gross capacity of 9.9 GW, of which several hundred MW are already operational or under construction. The portfolio companies are: Turn Energy, a leading Swedish solar PV developer; CCE Holding, an Austrian/German IPP with a pan-European portfolio; Faria Renewables, a Greek PV developer; Enova Value 2.0, a German onshore wind repowering joint venture with established developer Enova; and Integrum Renewable Energy, a UK-based solar PV and integrated battery storage developer. In total, Capenergie 5 aims to back about 10 European renewables players.
Marc-Philippe Botte, Managing Partner at Omnes, emphasized the importance of sustainability in Omnes’ partnership with its portfolio companies, saying, “We are dedicated to empowering our portfolio companies to not only thrive economically but to significantly enhance their positive impact. We believe in fostering sustainability and creating a future where economic success and environmental responsibility go hand in hand.”
Capenergie 5 has attracted top-tier investors, including AG Insurance, AkademikerPension, Bpifrance, Caisses du Crédit Agricole, Golding and Industriens Pension, as well as many other French and European insurance companies, pension funds, foundations, funds of funds and family offices.