Pictet Raises Over $250 Million for Environmental Solutions Fund

Swiss wealth and asset management firm Pictet announced that its alternative investment unit Pictet Alternative Advisors has raised $253 million at the final close of Environment Co-Investment Fund I, the company’s first dedicated environment co-investment vehicle targeting investments in companies providing solutions in areas ranging from greenhouse gas reduction to pollution control and the circular economy.

The fund closed well above its target of $200 million, with capital raised from a mix of investors, including insurance companies, pension funds, family offices, and private clients across Europe, Asia, North America, and the Middle East.

above the firm’s target of USD $200 million. The new fund is Pictect’s first dedicated environment co-investment vehicle, aimed at providing investors with exposure to private companies developing solutions to critical environmental challenges.

According to the company, the fund will invest alongside leading private equity managers in businesses at the forefront of addressing critical environmental challenges, with a focus on five areas including greenhouse gas reduction, pollution control, circular economy, sustainable consumer, and enabling technologies.

Most of the portfolio is expected to be in North America and Europe, with investments made across buyout, late-stage growth and selective late-stage venture opportunities.

Pictet said that around 50% of committed capital has already been deployed across eight transactions.

According to Pictet, many companies developing solutions in areas such as electrification, waste, water, resource efficiency and environmental services remain privately held, making the fund’s co-investment model well suited to providing selective access to these businesses through investments alongside established private equity sponsors on a deal-by-deal basis.

Nicolas Thomas, Principal Thematics Private Equity at Pictet Alternative Advisors, said:

“We saw strong backing for this fund from both existing and new investors. That reflects demand for co-investments, but also confidence in our ability to access deals and be selective. In the current market, investors want exposure to high-quality private companies, with greater visibility on the assets underneath and how capital is being deployed.”

The fund complies with the disclosure requirements of Article 8 of the Sustainable Finance Disclosure Regulation (SFDR) and aims to achieve a minimum of 80% sustainable investments, as defined under Pictet’s Sustainable Investment framework, by the end of the investment period.