NextEnergy Capital (NEC), has surpassed its $750 million target for its NextPower III ESG (NPIII ESG) fund, closing at $896 million in capital commitments, including an SMA.
Including co-investments, the total capital pool for its investment strategy stands at more than $905 million, making this NEC’s largest private fund to date.
NPIII ESG focuses on the international solar infrastructure sector, targeting projects in carefully selected OECD countries, including the United States, Portugal, Spain, Chile, and Poland. It is the largest OECD-focused solar infrastructure fund globally.
The fund’s diversified investor base consisted of pension funds, insurance companies, fund-of-funds and family offices from nine countries.
“There was an enormous amount of investor interest in the fund as investors’ appetite towards solar, ESG and sustainability funds continued to grow,” said Michael Bonte-Friedheim, group CEO and founding partner of NEC. “I am lo