Actis energy fund amasses $1.15bn

Private equity group Actis said its latest fund has closed its books with $1.15bn to invest in global energy – with renewables high on its list.

The Actis Energy 3 fund was heavily oversubscribed, beating its original target of $750m by more than 50%.

It will target generation and distribution interests in Latin America, Africa and Asia.

The fund has already invested in Brazilian renewables group Atlantic Energias Renovaveis and Chilean renewable power producer Aela Energía.

Actis said: “These most recent investments in renewable technologies are a response to an increasing demand for competitively priced energy powered by abundant natural resources.”

Subscribers to Actis Energy 3 include pension and sovereign wealth funds.