SUSI Partners closes second energy efficiency fund
- Final closing on 15 May 2020 brings total investor commitments for SUSI Energy Efficiency Fund II to EUR 289 million
- Fund’s institutional investor base covers Switzerland, Germany, the Netherlands, Sweden and Denmark, with around 50% first-time investors
- Across energy efficiency platform, close to EUR 500 million of investor commitments and expected CO2 savings of approximately 4 million tonnes
Zug/Zurich, 18 May 2020 – SUSI Partners announces that its SUSI Energy Efficiency Fund II (SEEF II) held its final closing on 15 May 2020, bringing total investor commitments to EUR 289 million. This represents a significant expansion of the company’s energy efficiency platform and a 45% increase in commitments over its predecessor fund, which was launched in 2014 and closed at EUR 200 million.
SEEF II has an institutional investor base comprising pension funds, insurance companies and foundations from Switzerland, Germany, the Netherlands, Sweden and – for the first time – Denmark. Approximately half of the investors in the Fund are new to SUSI Partners.
Marius Dorfmeister, Co-CEO and Global Head of Clients, comments: “We have further diversified our investor base and the final closing brought us very close to our fundraising target of EUR 300 million, set before the unprecedented global outbreak of Covid-19. We are very pleased with this result in the current environment and would like to thank our clients for their trust.”
Marco van Daele, Co-CEO and Chief Investment Officer, adds: “Across our energy efficiency platform, we have raised around half a billion euros. That’s a remarkable amount. Having closed the second fund, we can now focus on timely capital deployment and evaluate potential follow-up investment strategies.”
While significant investments in energy efficiency are needed to achieve the objectives of the Paris Climate Agreement, private and public infrastructure owners and operators often lack the financial resources to adopt the necessary technologies. Through its energy efficiency platform, SUSI Partners offers an off-balance sheet financing solution, enabling necessary investments in return for part of the energy savings.
Since January 2019, SEEF II has invested approximately EUR 100 million, with the investment period set to run for another four years following the final close. To date, the portfolio includes a variety of efficiency measures such as LED lighting retrofits, energetic refurbishments of industrial, public and residential premises, efficient heating systems as well as smart metering as a service.
Alexander Hunzinger, Managing Director Energy Efficiency, comments: “We have plenty of attractive investment opportunities in the pipeline. There is a continued and growing need for investment in energy efficiency, a key driver of CO2 savings and prerequisite for a sustainable and successful energy transition.”
Based on externally certified year-end 2019 calculations, investments across SUSI Partners’ existing energy efficiency platform are expected to result in approximately 4 million tonnes of CO2 savings over the lifetime of the underlying technologies.