Octopus Energy Generation’s open-end evergreen Sky fund has successfully raised £1.5 billion ($1.85 billion).
In the first quarter of 2024 alone, Octopus raised £330 million ($408 million) for Sky from new and existing investors. Its makeup of 15 investors includes defined benefit and defined contribution pension funds, sovereign wealth funds and family offices. The National Employment Savings Trust (Nest) was the cornerstone investor, and the Ireland Strategic Investment Fund (ISIF) was among the roster of others.
Initially, investors were U.K. based, but the fund now has two investors from Europe and two from Japan. Octopus said it added a new Japanese financial institution on board during the past few months.
Launched in March 2021, Sky, an Article 9 fund under SFDR, invests in renewables and energy-transition projects globally. The fund’s investment strategy gives investors access to a large, diversified (by technology and geography) portfolio of pro
