Alantra and Enagas launch €150m energy transition fund

Investment banking firm Alantra and Spain-headquartered natural gas company Enagas have today announced the launch of a €150m fund targeting European energy transition companies.

Posted Tuesday, March 10th 2020
Alantra and Enagas launch €150m energy transition fund

Jacobo Llanza

The Clima Energy Transition Fund will take minority stakes in companies operating in the green hydrogen, biogas, energy efficiency, decarbonization, sustainable mobility and digitalization for energy transition segments.

Under the terms of the agreement, a new management company will be formed, with Alantra holding a 70 per cent stake and Enagas holding a 30 per cent share.

The newly formed company will be integrated into Alantra’s alternative asset management division.

Alantra will contribute its expertise and track record in asset management, where it currently offers its clients access to a wide range of investment strategies (including direct investments, fund of funds, co-investments and secondaries) in six specialized asset management classes (private equity, active funds, private debt, infrastructure, real estate and venture capital).

Enagas, which is listed on the IBEX 35 Spanish stock market, will commit a minimum ticket of €20m and provide its technical and sectoral expertise. Enagas has experience developing startups in the cleantech space through its corporate venture program ‘Enagas Emprende’, which has already funded 12 startups operating in energy storage, sustainable mobility, biogas, hydrogen and energy efficiency.

Jacobo Llanza (pictured), CEO of Alantra Asset Management, said: “By launching this fund, Alantra will be able to offer its clients and investors a new highly specialized investment strategy in a €300 billion-plus industry. It also contributes to Alantra Asset Management’s strategic objective of becoming a leading player in the alternative asset management industry in Europe by increasing diversification and increasing our global exposure. Additionally, the fund aligns with the commitments to ESG undertaken by both companies.”

Marcelino Oreja, CEO of Enagas, said: “Technology and innovation are key elements in the battle against climate change. In a context of climate emergency, it is key to bring together committed investors with sustainable solutions to face new projects.”