Italian investment firm Green Arrow Capital SGR (GAC) has acquired the Luxembourg fund house of the UK-headquartered Quercus Investment Partners for an undisclosed amount.
The companies said in a joint statement that GAC is buying Quercus Assets Selection (QAS), which is responsible for over 320MW of renewable assets through five separate Luxembourg funds.
QAS five funds are the Quercus Renewable Energy, Quercus Renewable Energy II, Quercus European Renewables, Quercus Italian Wind Fund and the Quercus Italian Solar Fund.
The five funds managed by Quercus are active in Italy, the UK, Spain, Romania and Bulgaria.
The acquision will allow GAC to establish itself as the leading independent asset manager in Italy with 400MW of renewable assets under management.
Green Arrow Capital SGR (Quadrivio Capital SGR) is one of the main players in alternative investments in the Italian market with assets under management of 1.7bn.
Authorized and monitored by the Bank of Italy, the company promotes and manages investment funds mainly for qualified investors, operating through dedicated teams in the Private Equity, Energy & Infrastructure, Private Debt, Impact Investments and Fund of Funds sectors.