SUSI Partners holds first closing for third credit fund

  • SUSI Partners has raised EUR 132 million for its third credit fund, which represents an evolution of the firm’s two energy efficiency funds
  • Together with further commitments received for its Southeast Asia-focussed fund and its flagship equity fund, the firm has grown its asset base by 20% in 2022 to a total of EUR 1.9 billion
  • Fundraising continues for all three of SUSI’s holistic energy transition funds

Zug/Zurich, 23 January 2023 – SUSI Partners’ Energy Efficiency and Transition Credit Fund (SEETCF) held a first close in December 2022 and has accumulated EUR 132 million in investor commitments to date. The closing will allow SUSI to build on the longstanding track record of its credit platform, which has invested over EUR 600 million into energy efficiency and broader energy transition solutions through its unique financing structures tailored to energy-as-a-service business models.

SEETCF has received commitments from pension funds, insurance companies, and foundations based in the Nordics and the DACH region, with a high representation of LPs already invested in the predecessor fund, the SUSI Energy Efficiency Fund II.

At SUSI, we are all about building long-term partnerships and hence are very pleased to expand our cooperation with many existing investors that believe in our mission and the way we execute it,” says Marius Dorfmeister, Co-CEO and Global Head of Clients at SUSI Partners. “We consider the achieved 20% annual growth in aggregate commitments a vote of confidence in our deep energy sector expertise given current market turbulences.

The steep rise in energy prices over the last year has provided unprecedented momentum for measures that either reduce the energy intensity of existing infrastructure or decrease exposure to market energy prices by enabling consumers to produce energy on their own premises. However, investing in this fragmented project segment at scale requires a high degree of specialisation that is rare among investment managers.

Marco van Daele, Co-CEO and Chief Investment Officer, elaborates: “Our bespoke financing structures with energy service companies and technology providers allow us to scale capital deployment efficiently in segments where others cannot. Institutional investors can thereby gain access to sectors of the energy transition that are very much in focus given recent events, critically underserved, and hence ripe with opportunity in addition to being hugely important to achieving global climate targets.

SEETCF targets sustainable energy transition investments that contribute towards climate change mitigation while supporting the long-term development of businesses through the buildout of sustainable infrastructure and the provision of secure, affordable and clean energy. The 15-year vehicle will focus on European countries while retaining optionality to deploy in other OECD markets. With its EUR 400 million target size, the fund will be open to investors throughout 2023. SUSI Partners will also continue fundraising for its SUSI Asia Energy Transition Fund, which is expected to have a final close before the summer, and its flagship evergreen equity fund, the SUSI Energy Transition Fund (OECD).