PEARL Infrastructure Capital and Edmond de Rothschild Private Equity have wrapped up the third closing of their new fund called PEARL Infrastructure Capital II SCA, RAIF.

The fundraising closing aligns with the fund's EUR 400 million (US$ 437 million) target, with investors committing EUR 306 million (US$334.8 million) to the fund. PEARL II primarily attracts French and European investors, including the European Investment Fund, banks, insurance companies, and pension funds. The fund specializes in majority equity financing for environmental infrastructure projects across Europe. These projects encompass renewable energy production, waste recovery, and the circular economy, primarily targeting large industrial groups and local authorities tackling the challenges of ecological and energy transition. Investments will be directed towards various segments such as biomass, biogas, bio-methane, solid biofuels, liquid fuels for transport, green hydrogen, geothermal energy, and waste recovery.

PEARL has fully deployed its first vintage fund, PEARL Infrastructure Capital I SCA, RAIF, in two and a half years, after a final closing in March 2020.