Fund II

Fund II is the second closed-end alternative investment fund promoted and managed by FIEE SGR.

Established in July 2020, Fund II closed its funding at € 201 million in January 2022, exceeding the initial target of € 175 million and the threshold of € 200 million.

Fund II has completed six investment transactions in companies active in the energy community, residential energy service, renewables, innovative HVACR technologies and energy storage segments, allocating € 164 million of the capital raised.

In December 2022, Fund II also realised its first exit related to the sale of its stake in PLT energia S.r.l.

The objective of Fund II is to play a primary role as an investor in the new energy paradigm by contributing to the development of platforms for the energy transition.

The strategy of Fund II is in line with that of Fund I and energy efficiency in Italy remains the main target market.

However, Fund II aims to invest in ESCos, as well as in production and assembly companies active in the broader context of energy transition; in particular:

in energy efficiency (public lighting, co-generation, tri-generation, energy efficiency in industrial plants and enterprises, energy service for energy saving/energy efficiency in existing buildings, innovative HVACR technologies, etc.)
in power generation from renewable energies (wind, solar, biomass, etc.);
in innovation and infrastructure for energy transition (energy storage, electrification of transport, energy communities, etc.).

Investors

FIEE Fund II is backed by top-tier institutional investors both Italian and International. The fund’s LP base includes leading banks, foundations, insurance groups, and family offices, alongside national promotional institutions.

In addition to the continued support of the European Investment Bank as a key contributor, Fund II also benefits from the participation of another major Italian institutional player. Their involvement broadens the fund’s institutional footprint and further enhances its ability to back impactful projects and sector champions within the Italian and European energy and sustainability ecosystem.

Fund II

A Solid Track Record in Energy Transition

Fund II is establishing itself as a reference investor and partner for the energy transition in Italy and other European countries.

In particular, through its portfolio companies, Fund II is currently active in energy service in residential buildings, in the HVACR sector, in the development of energy storage and energy communities, as well as in power generation from renewable sources.