Tages Capital SPA Raises €253M For Italian Solar Infrastructure Fund

Jun 22 2017 | 7:41pm ET

The Italian affiliate of European asset management and banking giant Tages Group has raised €253 million in capital commitments for a new renewable energy fund.

The new fund, launched via Tages Capital SGR, is named the Tages Helios Investment Fund and will focus exclusively on the Italian solar infrastructure sector, the company said in a statement. It attracted interest from institutional investors including insurance companies, pension funds, banks, foundations, and private investors. Tages management also participated, the statement continued. 

The new fund has already invested approximately 60% of the overall committed capital, holding a portfolio of 60 solar plants and an installed capacity of 157 MW, Tages Helios is the third largest operator in the Italian solar infrastructure sector. The Fund now has more than €100 million to invest into further solar plant investments.

“Tages Helios has fulfilled the ambitious fundraising targets set at launch two years ago,” said Umberto Quadrino, chairman of Tages Holding, in the statement. “A solid base of diversified Italian and international investors has recognized a product that has excellent potential returns, limited volatility and [low] correlation to traditional asset classes. 

Founded in 2011, Tages is an international banking and asset management group specializing in infrastructure funds, alternative multi-manager solutions, UCITS alternative funds, and the management of non-performing loans. The firm manages, advises and services almost €16 billion in assets, including more than €2 billion in single manager and multi-manager funds, and €14 billion within Credito Fondiario, a banking platform specializing in the management and servicing of distressed debt assets in Italy.

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