Zouk Capital LLP yesterday announced the raising of €220 million for its second infrastructure fund, Renewable Energy & Environmental Infrastructure Fund II (REEIF II)
is dedicated to financing the construction and operational improvement of infrastructure assets
within niche and underinvested markets such as waste-to-energy, geothermal, biomass, storage, energy efficiency and distributed small-scale energy across Europe
.The investment strategy aims to generate capital gain returns by bridging the funding gap between developers and long-term final acquirers of infrastructure assets. A range of global institutional investors have made commitments, from public pension funds and sovereign wealth funds to insurance companies, funds of funds, corporates and large family offices. Zouk stopped taking new commitments for the fund on 31 March 2014.
Samer Salty, CEO of Zouk Capital said:
"We are delighted to announce the oversubscribed closing of our second infrastructure fund, REEIF II. Zouk's infrastructure Partners, Colin Campbell and Erich Becker, offer a genuinely differentiated approach to investing in Europe's renewable energy market, one which the success of our first fund demonstrates by combining high returns, specialist sector expertise and rigorous risk management. Zouk's team is one of few proven to have the skills to capitalise on the renewable energy opportunity and generate strong realised returns."
Colin Campbell commented:
"The fund's investors share our view that combining a range of sectors and project finance discipline is key to a successful investment programme in these fast-changing markets."
Erich Becker added:
"As the renewable energy sector transitions from subsidies into the mainstream energy market, the team's long track records in engineering, power operations, energy trading and renewables position the fund extremely well."
Zouk Capital now has €600 million under management focused on building a cleaner economy with a dual track strategy of Growth Capital and Infrastructure funds.Last week, Aviva Investors
completed the acquisition of a UK 11.36MW solar photovoltaic portfolio
from Zouk Capital. The assets were owned by Zouk Capital's Zouk Solar Opportunities Ltd (ZSOL) infrastructure fund.