At a glance
- IPE Real Assets reported the Oct. 15 announcement.
- Fund IV's €330 million first close is an interim total; the vehicle is still raising and no target size or final close date was disclosed.
- Allocators weighing the fund will gain a broader mandate than Fund III carried: clean power plus electrification enabling infrastructure.
L&G and NTR secured €330 million in commitments at the first close of their Clean Power Transition IV fund, with four returning cornerstone investors anchoring the vehicle. IPE Real Assets reported the Oct. 15 announcement.
Fund IV's €330 million first close is an interim total; the vehicle is still raising and no target size or final close date was disclosed. The predecessor, L&G NTR Clean Power (Europe) Fund III, reached a final close in March 2025 with more than €640 million raised for clean power infrastructure assets.
Allocators weighing the fund will gain a broader mandate than Fund III carried: clean power plus electrification enabling infrastructure. The fund will invest in renewable energy, energy storage and infrastructure supporting the electrification of heat, transport and industry, which the firms describe as an evolution of their first joint strategy. The firms did not say how capital will be split between the two pillars.
The fund is the fourth iteration of NTR's clean energy strategy and the second in partnership with L&G. The arrangement combines NTR's origination and asset management with L&G's capital, and the firms say the fund aims to deliver strong returns with an attractive yield over its life.
Reported by the Fundraising desk from IPE Real Assets. Published . Corrections