Edmond de Rothschild, together with Pearl Advisory, have held a first closing of its Pearl Infrastructure Capital private equity fund with €162 million ($180 million), according to the European Investment Bank.
The European Investment Bank (EIB) and France’s Caisse des Dépôts et Consignations (CDC) each invested €30 million ($34 million), alongside a diversified range of institutional investors.
The fund focuses on environmental infrastructure in Europe, focusing on energy and environmental transition. It is targeting between 12 and 15 assets representing equity investments of between €15 million and €40 million ($17 million and $45 million) in project companies targeting water, waste management and renewable energy production.
The fund is now aiming to raise a total of €250 million ($280 million) in commitments by the end of the year.
