French alternatives specialist Tikehau Capital has announced the first close of its private equity fund after it reached €350m.
The T2 Energy Transition Fund, supported by Bpifrance and Groupama as anchor investors, aims at helping medium-sized energy transition companies in Europe with their development, transformation and global expansion.
According to Tikehau, thesuccess of this first close confirms investors' interest in a sector that will be decisive in the establishment of a sustainable economy, with the T2 Energy Transition Fund's holistic approach praised by European institutional investors and family offices.
The International Energy Agency currently estimates that €60trn of investment will be needed over the next two decades to meet the challenges of climate change.
Antoine Flamarion, co-founder of Tikehau Capital said: "This fund perfectly aligns with the voluntary ESG policy undertaken by Tikehau Capital. We are convinced that private equity investment is a particularly effective way of driving energy transition, as it offers a long-term view to create both growth and jobs for businesses."
Emmanuel Laillier, Head of Private Equity at Tikehau Capital added: "The fund meets the unaddressed funding requirements of companies operating in the energy transition segment, while also satisfying investors' appetite for ESG investments. It therefore fits perfectly with Tikehau Capital's efforts to bring together global savings in search of performance and medium-sized firms seeking growth."
The fund's investments will be concentrated on companies operating in three key sectors of energy transition, which are clean energy production, low-carbon mobility, and improvement in energy efficiency, storage and digitalisation.