Successful second closing for EB-SIM and Union Investment

• Article 9 fund raises more than EUR 500 million in two subscription rounds
• The fund has a well-diversified portfolio with 14 projects
• First distributions are expected as soon as 2024

EB-SIM and Union Investment have achieved a successful second closing for their fund UniInstitutional Alternative Energies S.A. SICAV-RAIF – Regenerative Energies 1. In total, the two asset managers raised EUR 500 million for the fund from institutional investors in two subscription rounds. With 14 different projects, the fund’s portfolio is now well diversified in terms of technologies, regions and forms of remuneration. The first distributions are expected later this year.

“I’m delighted with the fund’s successful second closing,” said Michael Hepers, chief customer officer at EB-SIM. “We again attracted more funds from investors that expected. This underlines their confidence in us as an asset manager and shows that financial and ecological returns are equally important to investors.”

“We’re pleased that new clients were persuaded by our concept in the second subscription round and that existing investors also decided to increase their holdings,” said Kimmo Schäfer, product manager at Union Investment. “This shows that we are on the right path. We are determined to use these new funds to advance the energy transition and to shape a sustainable future for the generations to come.”

About UniInstitutional Alternative Energies S.A. SICAV-RAIF – Regenerative Energies 1

The fund, which was launched jointly by Union Investment and EB-SIM, is classified under Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR). It stands out because of its broadly diversified investment structure. The fund supports climate protection and focuses on the established technologies of wind, solar and hydro power in stable core European countries – currently Germany, France, Spain, Portugal and the Netherlands. The fund invests exclusively in projects that are already operational or are ready to build with full planning permission.

A team of experienced EB-SIM portfolio managers actively steer the projects. Eighty-two percent of the capital committed at the first closing has already been called. The fund has been able to invest considerably quicker than originally projected. The fund management team’s target annual return (net of IRR) is 5.5 to 6.5 percent.