Asset manager KGAL had originally intended to close the fund at the end of 2018, with an equity target of \u20ac500 million. \u201cInstitutional investors\u2019 interest far exceeded our expectations,\u201d says Florian Martin, Managing Director of KGAL Capital GmbH\u00a0&\u00a0Co. KG, explaining why the placement period was extended and the hard cap increased to \u20ac750 million. A total of 32 institutional investors subscribed as of 30 September 2019. Martin adds: \u201cWith almost \u20ac600 million of commitments from international institutional investors, our investor base has now expanded significantly.\u201d The fund is able to invest up until mid-2022 and its term ends in 2026; with the possibility of two two-year extensions.<\/p>\n
\u20ac280 million already allocated in six countries <\/strong>, with a well-filled pipeline<\/p>\n KGAL\u00a0ESPF\u00a04 invests predominantly in wind, solar and hydroelectric power in Europe. It is also able to invest in additional technologies relating to renewable energy and storage, as well as network infrastructure. KGAL is pursuing a core-plus strategy, which combines greenfield and brownfield investments in a targeted manner. \u201cWe benefit from being able to cover the entire value chain on a flexible basis,\u201d explains Michael Ebner, Spokesperson for the Executive Board of KGAL Investment Management, adding that the fund has to date allocated \u20ac280 million in equity capital for six projects: two currently in operation, two in construction, and two in project development. This corresponds to a capacity of around 350 megawatts.<\/p>\n Alexander Rietz, Portfolio Manager for KGAL\u00a0ESPF\u00a04, reports that the fund\u2019s pipeline is very strong: \u201cWe have signed exclusivity agreements to secure access to an additional 1,000 megawatts of renewable energy projects in various countries.\u201d It is the fund\u2019s strategy to create a geographically and technologically diverse portfolio with additional diversification dimensions along the value chain. The portfolio also reflects the aim of creating a \u201chybrid\u201d return structure for the fund, achieving attractive net total returns in conjunction with stable distributions.<\/p>\n Investors from 13 European and Asian countries <\/strong><\/p>\n KGAL has significantly expanded its international network of investors. \u201cWe are proud of the fact that we have brought on board a total of 32 institutional investors from 13 countries, including many \u201cblue chip\u201d investors,\u201d explains Senior Sales Director Tim van den Brande. Around a quarter of the investors are based in Germany and three quarters are from elsewhere, with Dutch and French investors particularly strongly represented.<\/p>\n","protected":false},"excerpt":{"rendered":" Renewable energies fund sees KGAL Group expand its international network of investors \u2013 KGAL Investment Management GmbH & Co. KG successfully closed its KGAL ESPF 4 renewable energies fund on 30 September 2019, with equity commitments totalling \u20ac750 million. The fund has already allocated \u20ac280 million of equity for projects in six countries. KGAL ESPF 4 held its first closing in mid-2017 and acquired its first project in mid-2018.<\/p>\n","protected":false},"author":5,"featured_media":4020,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"footnotes":""},"categories":[1,41],"tags":[],"class_list":["post-3405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","category-sustainable-infrastructure-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/posts\/3405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/comments?post=3405"}],"version-history":[{"count":0,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/posts\/3405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/media\/4020"}],"wp:attachment":[{"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/media?parent=3405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/categories?post=3405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgal.de\/en\/wp-json\/wp\/v2\/tags?post=3405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}