Crescent
Capital, a Turkish-based fund manager focused on clean energy
and infrastructure has launched its Clean Energy Transition Fund,
L.P (CETF) from Guernsey.
The fund, which has this month announced a first close and aims
to reach a target amount of €200m by the end of 2012, has
attracted a total of €100m commitments from investors
including EBRD, EIB, iVCi, FMO and DEG.
CETF is Turkey's first private equity fund with a focus on
the energy sector. It will target investments in renewable energy
generation projects predominantly in Turkey and South Eastern
Europe.
Ipes was selected as administrator for the Guernsey domiciled
fund following a competitive pitch process.
Aygen Yayıkoğlu, the Founder and Managing
Partner of Crescent Capital, said: "Given our investor base,
an important element of our fundraising strategy was to establish
the fund in a well regarded jurisdiction working with credible
partners.
