Robeco takes secondaries position in EnerCap Power Fund

Two vehicles managed by RobecoSAM Private Equity have replaced an existing investor in the EnerCap Power Fund, an infrastructure secondaries vehicle.

Prague-based fund manager EnerCap Capital Partners has replaced an existing investor in its 2007-vintage EnerCap Power Fund with two funds managed or advised by RobecoSAM Private Equity, the Rotterdam-based thematic investor.

The change came about when an unnamed existing investor decided to exit its position through a secondaries transaction. The position is in the main institutional vehicle of the €98 million, ten-year renewable energy fund focused on Central and Eastern Europe (CEE). The fund also has a smaller, parallel vehicle for high-net worth individuals.

The EnerCap Power Fund is almost fully invested, having backed projects in the wind, solar photovoltaic (PV) and cogeneration sectors in the Czech Republic, Poland, Romania, Slovakia and Croatia. It recently completed the installation of wind turbines at its 42-megawatt Obrovac wind farm in Croatia, a project which reached financial close in June 2013.

Aside from RobecoSAM, other investors in the EnerCap Power Fund include the European Bank for Reconstruction and Development, the European Investment Bank and Sumitomo Mitsui Banking Corporation.

EnerCap says it is at an “advanced” stage of fundraising for its next fund which will focus on high-efficiency cogeneration projects in the CEE region and has a target of €350 million.


Reporting by Andy Thomson