Turkey based fund manager Crescent Capital Advisory Ltd. has announced the successful launch and first closing of Clean Energy Transition Fund LP (CETF), a private equity fund focused on renewable energy and related sectors. CETF will seek investment opportunities in solar, wind, hydro, geothermal and biomass power projects in Turkey and South Eastern Europe.
Clean Energy Transition Fund LP (CETF)
CETF is Turkey’s first private equity fund focused on the energy sector and has received funding from EBRD, EIB, iVCi, FMO, and DEG for its first closing at EUR 65 million, while the private equity fund’s board received a total investment commitment of EUR100 million.
Crescent Capital will however, continue to market the fund to new investors and hopes to reach the target size of EUR 200 million by the end of 2012.
Crescent Capital (www.crescent.com.tr/index.html)
Based in Istanbul, Crescent Capital specializes in investment banking and corporate finance services aiming the energy and infrastructure sector and is promoted by industry veteran Aygen Yayıkoğlu.
Mr. Yayıkoğlu has 15 years of energy and infrastructure experience and had spent nine years at EBRD’s head-quarters in London before founding the independent start-up in 2009. He had also helped IFC set up its regional infrastructure team in Istanbul.