The ESG Phenomenon: Edmond De Rothschild PE, PEARL Hold Fund Third Closing

Editorial Staff 12 March 2024

The ESG Phenomenon: Edmond De Rothschild PE, PEARL Hold Fund Third Closing

The latest developments in the ESG space.

PEARL Infrastructure Capital and Edmond de Rothschild Private Equity have wrapped up the third closing of their new fund called PEARL Infrastructure Capital II SCA, RAIF.

The fundraising's close is in line with the fund’s €400 million target, with investors having committed €306 million ($334.8 million) to the fund.

PEARL II has a base of French and European investors, including the European Investment Fund (under the InvestEU programme), banks, insurance companies and pension funds. The fund specialises in equity financing on a majority basis of environmental infrastructure projects in Europe. 

Projects include renewable energy production, waste recovery and the circular economy, and mainly target large industrial groups and local authorities facing the dual challenge of ecological and energy transition. (See an example of an energy project, in France, below.)

Investments will focus on various segments, including biomass, biogas, bio-methane, solid biofuels and liquids for transport, green hydrogen, geothermal energy and waste recovery.

PEARL has fully deployed its first vintage fund, PEARL Infrastructure Capital I SCA, RAIF, in two and a half years, after a final closing in March 2020. 

"Against a backdrop of inflation, investors continue to place their trust in us. The PEARL strategy demonstrates its importance and relevance to building a low carbon, resilient and sustainable economy for future generations, to which our group is firmly committed,” Johnny El Hachem, chief executive of Edmond de Rothschild Private Equity, said.

Edmond de Rothschild Private Equity has more than €4.0 billion assets under management through two alternative investment funds. 

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