Renewable energy debt fund builds on continued success

Berenberg, Germany’s oldest private bank based in Hamburg, has achieved the second closing of its fourth debt fund in the renewable energy sector.

The Berenberg Green Energy Debt Fund IV invests in renewable energy projects in the EU and OECD countries and, together with the existing funds, is intended to continue the tried and tested strategy.

The multi-investor fund enables institutional investors such as insurance companies, pension funds, and provident funds as well as savings banks and credit unions to invest in renewable energy financings, such as wind and solar power plants.

The fund is also attracting a strong interest from family offices, churches and foundations, which attach particular importance to sustainability aspects in addition to competitive returns in the mid to high single-digit range.

“Despite the challenging fundraising environment, we attracted eight new investors to our fund with the second closing,” said Torsten Heidemann, head of infrastructure & energy at Berenberg.

“In addition, the strong interest from borrowers in our product continues unabatedly. We were able to allocate more than 90% of the capital commitments from the first closing within only six months, which also underlines the strong execution capabilities of our teams.”

The Fund is a sub-fund of Berenberg Alternative Assets Fund II and classified as an Article 8 fund.