In brief: SWEN seeks ESG-focused and local GPs for €150m fund-of-funds capital

French sustainability-themed fund manager has closed Territoires Innovants 3 at €150m, with 75% of the fund earmarked for PE and secondary fund investments.

SWEN Capital Partners has over €100 million to invest in ESG-themed and local French funds. The sustainability-focused fund manager has closed Territoires Innovants 3 at €150 million and intends to invest 75 percent of this into third-party funds, “including a portion of secondary transactions”, a spokesperson for SWEN told New Private Markets.

TI3 is an Article 8 fund and pursues four themes: “respect for the environment, regional access to essential goods and services [in France], diversity and fair sharing of value”, the spokesperson said. At least a fifth of the fund’s investments will have a climate or energy transition focus.

Investors in the fund include La Macif, Crédit Mutuel Arkéa and Bpifrance. TI3 has invested in climate impact firm Tomorrow Capital’s first fund and food-focused FnB’s second private equity fund, SWEN’s spokesperson said.