What does recent global fundraising tell us about energy investment priorities?

In this week’s Power Playbook: Private capital fundraising has secured billions of euros in France, the US and South Africa, highlighting energy tech as a priority investment class.

France’s InfraVia, Boston’s ArcLight, and South Africa’s STANLIB have each raised significant finances directed, at least in part, towards the energy sector. 

A common theme across these fund closes is the way energy is being grouped as a priority alongside digital infrastructure, mobility and transmission. The focus is less on individual technologies and more on how different parts of the system fit together.

Infra in France closes €8 billion 

InfraVia Capital Partners, a France-based independent private capital firm specialised in tech investments, closed in mid-March its sixth-generation infrastructure fund, InfraVia European Fund VI, which reached its €8 billion ($9.4 billion) hard cap following strong global investor demand.

The Fund was oversubscribed, said InfraVia, closing in 18 months and representing an increase relative to its €5 billion ($5.9 billion) predecessor fund.

According to InfraVia, its strategy is anchored in sectors critical to Europe’s future competitiveness and resilience: energy and energy transition, digital infrastructure, mobility, and social infrastructure.

Indeed, the fund has already committed over €1 billion ($1.2 billion) in three landmark mid-cap transactions: OpCore, which operates retail, wholesale and hyper wholesale data centres in Europe, LDA, a maritime infrastructure group, and Prosolia Energy, an IPP operating in both distributed generation and the utility-scale market.

The fund attracted over 80 new investors, said InfraVia, with more than 50% of the commitments coming from outside Europe.

Vincent Levita, Founder and CEO of InfraVia commented: “We are extremely proud of this fundraising that confirms not only the resilience of European infrastructure and the excellent track record of the team but also the depth and strength of our relationships with investors. 

“Europe’s economic sovereignty depends on competitive energy, strong digital networks, efficient mobility and secure logistics. At InfraVia, we work actively to scale companies in these sectors and create European champions.”

ArcLight’s $3.9 billion

Boston-based ArcLight Capital Partners, an infrastructure investor, announced the successful close of ArcLight Infrastructure Partners Fund VIII with $3.9 billion in total commitments.

The Fund was oversubscribed, exceeding the target capital commitment of $3 billion by 30%. Total capital raised by ArcLight over the past 24 months, across all vehicles, surpassed $6 billion.

Said Dan Revers, Founder and Managing Partner of ArcLight: “We are grateful to our partners’ support for what we do. 

“Since the firm’s inception in 2001, ArcLight has maintained a strong and consistent focus on investing in electric power, renewables, strategic gas, and related infrastructure with a highly differentiated, value-added investment approach.”

ArcLight has been investing and building electric infrastructure since 2001, and has owned, controlled and operated around 70GW of power generation assets and 48,000 miles of electric and gas transmission infrastructure, collectively representing over $80 billion of enterprise value.

Partnerships and resources that ArcLight has formed or backed over the last five years include:

• AlphaGen– operating power team
• Advanced Power– thermal power development team
• Elevate– battery storage development team
• SkyVest– renewables operating team
• Anchor Point– transmission development team
• Takanock– digital power team

More from the Power Playbook:
UK battery market evolves from capacity to control
Hedging against renewable volatility with battery storage
Can the EU's Clean Energy Investment Strategy work?

STANLIB’s R5 billion 

Across the ocean in South Africa, STANLIB Asset Management in mid-March announced that its Khanyisa Energy Transition Fund had reached R5 billion ($305.5 million) at its first close, aiming to mobilise capital from long-term investors to help finance South Africa’s Just Energy Transition ambitions.

Launched in November 2023 with an undertaking of seed funding from Standard Bank and Liberty, the STANLIB Khanyisa Energy Transition Fund seeks to contribute to investment to transformational energy and infrastructure assets in South Africa. 

In December 2025, the fund recorded its first close at R5 billion capital raised, which has been deployed across 14 operating assets in the renewable energy independent power producer programme (REIPPP).

Johan Marnewick, Head of Fixed Income Private Markets at STANLIB Asset Management and the fund’s portfolio manager, said:

“The first close of the fund represents a significant milestone for STANLIB and the wider Standard Bank Group as we leverage our strengths to raise more developmental capital into the country. 

“Energy transition and related developmental infrastructure has been a large capital formation theme in the country for a number of years, however, in many ways the industry is still nascent with enormous potential to unlock growth and empower businesses and residents alike through ongoing investment.”

Over time, the fund is expected to grow to R18 billion with assets in renewable energy, decentralised energy (such as rooftop solar), developmental and related infrastructure, minerals critical to the energy transition, green hydrogen, and the transport revolution (e.g. battery technology, electric vehicle infrastructure and sustainable mobility solutions).

“The fund invests in credit assets which offer predictable cash flows within lower risk parameters to meet the return objectives of investors. These assets are often not available on listed, more traditional markets and provide access to real economy business opportunities that have diversification benefits for investment portfolios,” said Marnewick.

Marnewick added that, by tapping into the strength of the country’s financial services industry, it has the “potential to be a trailblazer in energy transition industries in the Global South.”

Speedy closes

What stands out with these announcements is the strength and speed of the closes. InfraVia reached its hard cap in 18 months, while ArcLight exceeded its target by 30%, continuing a pattern of oversubscription across large infrastructure vehicles. Clearly there is competition for exposure to energy-linked assets.

And the money tells. 

According to February research from BlackRock-owned analytics company Pequin, North America-focused sustainability-labelled funds raised a  record of $63.9 billion at the end of 2025, while funds focused on Europe raised $94.5 billion in the same year as investors continue to prioritise the energy transition.

Commenting on how Europe is a top destination for sustainability fund commitments, Jaclyn Bouchard, Head of Aladdin & Preqin Sustainability Product at BlackRock said: "Europe will likely remain the global leader.

"The twin forces of the mandatory SFDR (Sustainable Finance Disclosure Regulation) regime and GHG reduction targets, which were agreed last year and are legally binding for EU members, should ensure continued momentum and growth of sustainability-aligned private markets."

That policy backdrop matters. Europe is not just attracting capital because of demand, but because the rules are clear. For investors, that reduces uncertainty and makes it easier to deploy capital at scale into energy and infrastructure.

It also reinforces the point seen in these fundraises: capital is flowing with certainty. Where there is visibility on regulation, returns and long-term demand, money is moving quickly — and often in size.

What do you think?
Yusuf Latief