Paris-based Omnes has paid €30 million ($33 million) for a minority stake in Danish solar photovoltaic provider Better Energy, marking the first investment of Omnes’s fourth-generation fund dedicated to renewable energy, Capenergie 4.
The fund recently completed a first close with €380 million ($420 million) in capital commitments, against a €500 ($550 million) target. French and international institutional investors backed the fund, in addition to Omnes’ existing investor base.
The European Investment Bank (EIB), serving as a cornerstone investor, backed Capenergie 4 with a €75 million ($83 million) commitment. The EIB previously committed €45 million ($49 million) to the fund’s predecessor, Capenergie 3, which closed with €245 million ($271 million) in 2017.
The first two funds in the series, Capenergie 1 and 2, raised €109 million ($120 million) in 2006 and €145 million ($160 million) in 2010, respectively. The objective of the fund seri