AB CarVal announces final close of CVI Clean Energy Fund II
The firm's second clean energy fund closed with
CEF II is a continuation of AB CarVal's platform for renewable energy private debt transactions. The Fund has received commitments from both new and existing limited partners, representing a cross-section of corporate pension funds, sovereign wealth funds, private banks, endowments, foundations, fund of funds, family offices and high net worth individuals.
"Rapid growth in renewable energy and a fragmented financing market present a compelling opportunity," said Jody Gunderson, managing principal with AB CarVal. "The global energy transition is extremely capital intensive, and private investment offers a direct route to participate in projects that are redefining the future of the energy markets and offer solid long-term return potential."
The United Nations estimates that
AB CarVal's first Clean Energy Fund closed in 2021, with
About AB CarVal
AB CarVal is an established global alternative investment manager and part of AllianceBernstein's Private Alternatives business. Since 1987, AB CarVal's team has navigated through ever-changing credit market cycles, opportunistically investing
About AllianceBernstein
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals, and private wealth clients in major world markets. As of June 30, 2023, AllianceBernstein had
*Source: IEA Flagship report, May 2021
**As of June 30, 2023. AUM is comprised fee-earning AUM and fee-eligible AUM. Fee-earning AUM includes those assets currently qualified to generate management fees. Fee-eligible AUM includes capital that is committed to an AB CarVal Fund but is currently uncalled or recallable. The number represented here excludes assets under AB CarVal's management that are not generating management fees due to the maturity of the Fund but includes amounts that do not generate management fees solely due to AB CarVal's decision not to charge management fees.
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SOURCE AllianceBernstein