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In brief: SWEN raises €150m for second infra fund

Not for the first time, half of the carried interest the SWEN team stands to earn is contingent on achieving targets relating to environmental and social factors.

SWEN Capital Partners has held a first close on its Impact Fund for Transition 2 fund (aka SWIFT 2). The sustainability-focused private markets firm has raised €150 million to invest in renewable gas and circular economy initiatives, according to a statement today.

Says the firm: “The fund invests directly in methanization and renewable hydrogen, as well as in green infrastructure such as renewable heat networks and energy storage. Like its predecessor, SWIFT 1, SWIFT 2 will dedicate more than half of its investments to biomethane, a business experiencing strong growth in Europe. Meanwhile, investments in green hydrogen should make up a significantly larger share of this second vintage.”

The fund has a target size of €300 million. The aim is to build a portfolio of about 20 assets, primarily in Europe, with ticket sizes ranging from €5 million to €50 million.

Not for the first time, half of the carried interest the SWEN team stands to earn will be contingent on achieving targets relating to environmental and social factors.