The SUSI Energy Storage Fund (SESF) has reached a first closing of €66 million (US$70 million).
An additional €14 million (US$15 million) is already committed towards the fund’s second closing. Among the investors are existing as well as new SUSI Partners clients, comprising of insurance companies, pension funds and a globally active family office.
Shortly after its launch, SESF had already closed a first investment in a portfolio of energy storage projects in Ontario, Canada. The fund with a target volume of up to €250 million (US$266 million) will primarily invest in assets alongside existing grid infrastructure providing load levelling and ancillary services as well as decentralized energy supply (Micro Grids). The target portfolio within the OECD area will be diversified across geographies, energy storage technologies and business models, allowing for stable returns and an infrastructure-type risk-return profile.
SUSI Partners has observed the Energy Storage market for over three years and has built a tangible pipeline with projects totaling over 400 MWh of energy storage capacity. The SUSI Energy Storage Fund is open to institutional investors looking to profit from diversification benefits and attractive risk-adjusted returns in this rising infrastructure asset class.
Dr. Tobias Reichmuth, CEO and Founder of SUSI Partners, on the first closing:
“The very satisfying first closing is a clear sign that institutional investors are increasingly recognizing energy storage’s pivotal role in enabling the energy transition. Due to three years of intense preparation and a solid project pipeline we are ideally positioned for the efficient allocation of the provided funds.”