Actis has reached a first close of $2.5 billion for its flagship energy fund, meeting roughly two-fifths of the firm’s stated fundraising goal for the vehicle, according to people familiar with the matter who asked not to be identified because the information is private.
The firm is seeking about $6 billion for the fund, named Actis Energy 6, and is targeting a final close next year. The vehicle is structured to invest across a suite of energy-related assets, including renewable power generation, power grid infrastructure, energy storage systems and other energy transition solutions.
Geographically, Actis Energy 6 is intended to deploy capital in a wide set of growth markets: Asia, Latin America, central and eastern Europe, the Middle East and Africa. At $2.5 billion, the first close represents approximately 40% of the firm’s fundraising objective.
Actis is owned by General Atlantic. The identity of the sources used for the fundraising details was not disclosed by the firm because the information remains private.
Market participants have been directing capital toward energy opportunities in growth markets, a shift that has supported fundraising efforts by firms like Actis. Renewable power generation in emerging economies is on the rise as those markets pursue greater energy resilience and independence.
The conflict in Iran was cited in the reporting as a factor that has added fresh momentum to energy-related investment activity in these regions.
The fund’s investment remit and geographic focus reflect a growing appetite among investors for assets tied to the energy transition in markets where grid upgrades, new renewable capacity and storage solutions are needed to improve reliability and reduce dependency on volatile energy imports.
Actis’ progress toward its $6 billion target at first close signals continued interest from limited partners in large-scale, growth-market energy strategies. The firm plans to work toward completing the final close next year.
Note on sourcing: Information about the first close and fundraising target was attributed to people with knowledge of the matter who requested anonymity.