Pictet Alternative Advisors has launched a new private markets fund focused on investing in environmental technology. The company’s assets are expected to be $400 million (CHF 364.2 million), head of thematic division Nicholas Thomas told Citywire. He co-chairs the fund with Pierre Stadler, head of private equity, and the duo can draw on the expertise of a 25-person team.
Pictet Private Assets Sicav – Environment Co-Investment Fund I Eltif targets 20-25 investments in greenhouse gas reduction, sustainable consumer products, pollution control, circular economy and advanced technologies.
These are 50% buyback level, 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 structure.