Luxcara, a firm that manages €2 billion (US$2.2 million) in renewable energy assets, has launched its third renewable energy fund.
The Solar and Wind sub-funds of the Flaveo Infrastructure Europe SCS SICAV-FIS partnership are focused on solar and onshore wind farms located in Europe. Furthermore, it is focusing exclusively on institutional investors.
The funds' investors, German pension funds and insurance companies, have already been secured for the first closing in mid-September, just after the fund was launched. The fund will be structured with subordinated partial bonds. In addition, investors will be offered both securitization options and direct investments.
In early October, the fund acquired the first wind portfolios. The pipeline, which will be composed of renewable assets, is expected to be implemented by the end of 2015.
Kathrin Oechtering, managing partner at Luxcara, stated:
"Access to a quality pipeline is key in order to invest the investor's capital as timely as possible. Due to our long-standing relationships and extensive track record in the industry, we have secured a continuous access to such high-quality assets."
Since 2009 Luxcara has exclusively specialised in photovoltaic power plants and onshore wind farms. They have established two successful Luxembourg-based funds for institutional investors and have made numerous direct investments.