Incus Capital announces the launch of its second senior credit fund, a €500 million European renewables credit fund. The firm held its first closing for €300 million in committed capital, reaching 60% of the fund target size. Incus´ European Renewables Credit Fund is a successor investment vehicle to the €300 million European Real Assets Senior Credit Fund (“Senior Credit Fund I”) raised in 2019. The European Renewables Credit Fund is an SFDR Article 9 Fund, with sustainable investment and carbon emissions reduction as its main objective.
Energy transition is one of the fastest growing asset classes within the broader infrastructure market. There is significant investment in new renewable energy capacity required over the next decades to achieve the transition to low-emission sources of energy. The EU emission targets for 2030 can only be met through concerted efforts of increasing zero emission renewable energy generation and building a viable and robust transmission network across Europe. To achieve these targets, the European Commission estimates that at least €16 billion of new investments per year are required in Southern Europe alone.
Incus has established a strong reputation in the renewables space thanks to its local presence across Southern Europe. The firm has been an active participant in providing financing for renewable assets since the firm´s inception in 2012. This new dedicated Renewables Credit Fund will target Senior financing for greenfield and brownfield renewables projects throughout the Eurozone.
Founded in 2012, Incus Capital is a real assets investment advisory firm with offices in Madrid, Lisbon, Milan and Paris. The firm focuses on providing flexible capital solutions to mid-market companies in Europe. The Incus investment strategy includes a strong focus on downside protection and asset-backed collateral with target investment sizes between €20 million and €100 million. Incus Capital acts as the investment advisor to funds with €2.2 billion in assets under management (“AUM”).
The Incus funds have successfully invested over €2.5 billion across more than 115 equity and credit transactions in the firm´s core markets of Spain, Portugal, Italy, France and Benelux. The Incus funds investor base includes Public & Private Pension Plans, Insurance Companies, Sovereign Wealth Funds, Endowments, Foundations, Family Offices in the US, Canada, and Europe.
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