Pictet Alternative Advisors has launched a new private market fund focused on environmental technology investments. It is targeting $400 million (CHF364.2 million) in assets, theme director Nicolas Thomas told Citywire. He leads the fund together with Pierre Stadler, head of private equity thematics, and the duo can draw on the expertise of a team of 25 people.
The Pictet Private Assets Sicav – Environment Co-Investment Fund I Eltif focuses on 20 to 25 investments in greenhouse gas reduction, sustainable consumer products, pollution control, circular economy and enabling technology.
It’s a 50% buyout level, with 40% growth and 10% late stage. The fund targets an internal rate of return of 14% and uses the Eltif (European Long-Term Investment Fund) 2.0 framework.
