Ambienta Sgr, an Italian private equity firm, announced the closing of Ambienta I, the largest European fund dedicated to the environment, with €217,5m under management (approximately $317m).
The fund was underwritten by institutional investors (70%), entrepreneurs and companies (30%). Investors include 20 financial institutions led by Intesa Sanpaolo, which invested €40m, 7 insurance companies and 5 social security institutions. On the international front, investors include the environmental fund of funds Macquarie Cleantech I and Doughty Hanson.
As stated by Nino Tronchetti Provera, Partner and CEO of Ambienta SGR, the fund will invest in the complete range of environmental business including renewable energies, pollution reduction, energy saving, recycling, waste management, water resources and biofuels”.
Ambienta has already started the scouting activities, assessing more than 300 potential investments.