Private equity fund Actis on Thursday said that it has completed fundraising for Actis Energy 5 (AE5), significantly exceeding its $4 billion target, the PE fund said in a statement. With over $4.7 billion of fund commitments and significant co-investment, the Energy team expects to deploy around $6 billion of investable capital.
Of the total amount raised, the fund aims to deploy $850 million in India over the next 4-5 years.
Actis has a significant track record of investing in Indian renewables where it has invested $ 800 million over the last seven years to establish Ostro Energy and Sprng Energy with 3 GW of solar and wind capacity.
The investor base for the new fund includes pension funds, insurance companies, endowments, sovereign wealth funds and other investors from across the globe.
The Energy Infrastructure team at Actis comprises almost 60 team members, including seven senior Sustainability professionals.
Sanjiv Agarwal, Partner Actis and Head of Energy for Asia said, “We are glad to have successfully closed this fund raising. We are committed to the Indian renewable sector and will continue to be a leading investor in Indian green energy.”
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