Pioneer Point Partners, a sustainable infrastructure investment firm, has announced the eighth investment from its maiden institutional fund, Pioneer Infrastructure Partners, which closed in February above target with €575 million ($621 million) of equity commitments. The fund has acquired Simet Soluzioni Energetiche, an Italian energy-efficiency service provider serving the public administration sector in northern Italy.
The seller was Enercom Group, one of the largest Italian utility companies active in the production, distribution and sale of energy and related services. Financial terms were not disclosed.
With a more than 50-year history managing public-lighting infrastructure in northern Italy, Simet ensures more than 3,000 kilometers (1,864 miles) of roads are lit under long-term contracts with roughly 100 municipalities. On average, Simet’s inter