Sosteneo Raises Over $500 Million for Clean Energy Infrastructure Fund

Generali Investments’ clean energy infrastructure investment unit Sosteneo announced that it has secured over €450 million (USD$504 million) in capital commitments for its second flagship fund, including securing over €150 million in new fund commitments and co-investment capital at the fund’s first external close.

Launched in 2025, the fund focuses on construction-ready clean energy infrastructure across European markets, investing where specialist capability across construction, financing and revenue contracting can support asset resilience and long-term value creation. The fund targets investments in physical infrastructure with long-term, stable and visible cash flows across three areas of the energy system, including enabling integration and flexibility, securing clean energy supply, and supporting the decarbonization of industry.

Sosteneo’s predecessor Clean Energy Infrastructure Fund announced its final close last year, raising over €620 million in capital commitments, alongside €80 million in co-investment capital. According to Sosteneo approximately three-quarters of the first fund’s 39 projects are now fully operational. In the second quarter of 2026, Fund I began distributing income generated by its operating assets to investor, and in the third quarter, the fund signed an agreement to sell an interest in an operating asset, marking its first partial realization.

Sosteneo said that the new fund’s first external close includes a new commitment from the largest external institutional investor in its predecessor Fund I, commitments from new institutional investors, and an increased commitment from Generali Insurance Companies, the cornerstone investor in Sosteneo’s flagship funds.

Umberto Tamburrino, Managing Partner and CEO at Sosteneo, said:

“We are pleased with the continued progress of Fund I, with most projects now fully operational after just three years from inception. The commencement of income distributions and the signing of our first partial realisation represent further steps in the maturation of the portfolio. Fund I continues to progress in line with our expectations, providing a strong foundation as we continue to develop the Sosteneo platform and deploy Fund II.”