Tages Capital SGR, through its infrastructure funds Tages Helios and Tages Helios II, announces the completion of the acquisition – previously announced on 27 December 2018 – of a three photovoltaic plants portfolio located in Veneto and Lazio (the so-called Tosca portfolio) from Glennmont Partners, through Glennmont Clean Energy Fund Europe I.
With the new acquisition, Tages Capital SGR completes the investment of its first Tages Helios fund, three years after its launch in December 2015. Tages Helios raised a total capital of €253 million, attracting the interest of leading institutional investors, including insurance companies, pension funds, banking foundations and banks.
Tages Helios II, launched in July 2018, raised 150 million euro, with the aim to go ahead with the project of consolidation of the Italian renewable energy market and, in addition, to seize opportunities in the wind power sector. Tages Capital SGR will continue the fundraising for Tages Helios II in the coming months with a target of €400 million over the next two years.
Umberto Quadrino, President of Tages said: “The completion of the investment of Tages Helios represents an important milestone in the growth of Tages Capital SGR. In just three years, our company has established itself as the second largest Italian player in the photovoltaic sector. With the Tages Helios II fund we intend to continue our strategy of growth and value creation. We still see many opportunities for consolidation in the Italian renewable energy market and we are confident that with Tages Helios II we will be able to replicate the successes achieved in the investment of Tages Helios”.
For further information on Tages Capital:
Cristina Fossati, Luisella Murtas, Laura Filosi
Ph. +39 02 89 011 300
Milan, 28 January 2019