ESG
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.
Here is a reminder that the Third Annual WealthBriefing
Wealth For Good Awards 2024
is open for entrants. This awards programme will give an
opportunity for all participants in the global wealth management
industry to demonstrate their commitment to and pre-eminence in
areas such as ESG, impact, diversity and inclusion.
