Fund exceeds €450M target due to strong investor demand for authentic, sustainability-led investment strategies.
Targets European small caps (revenues up to €150M) aligned with environmental sustainability trends.
Initial deployment led from Milan and Paris, with expansion planned across all Ambienta offices.
Ambienta SGR S.p.A., a leading European asset manager focused on environmental sustainability, has closed its small cap strategy with commitments totaling approximately €500 million—surpassing its original €450 million target. The oversubscription reflects strong investor confidence in Ambienta’s science-based approach and long-term sustainability thesis.
The strategy will back established European small cap companies (revenues up to €150 million) whose business models are aligned with sustainability megatrends. It marks a return to the firm’s roots in small cap private equity, as larger mid-cap funds like Ambienta IV (€1.55 billion) have outgrown these earlier-stage opportunities.
“The small cap strategy brings us back to our roots,” said Mauro Roversi, Founding Partner & Chief Investment Officer, Private Equity. “Our early success was built on investing in small, primarily family-owned businesses… we continue to see significant investment opportunity among environmental champions in the lower end of the market.”
Deployment will begin from Ambienta’s Milan and Paris offices, led by Partners Francesco Lodrini, Yann Bak, and Giacomo Forti, with support from Senior Advisor Francesco Sogaro. The team is expected to grow across all geographies where Ambienta operates.
The strategy will utilize Ambienta’s proprietary Environmental Impact Analysis (EIA) and ESG in Action tools to assess and enhance environmental and operational performance across portfolio companies.
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“At a time when others are retreating from sustainability, we are deepening our commitment with confidence,” said Laurent Donin de Rosière, Partner and Head of Investor Relations and Strategic Partnerships. “We firmly believe that companies driven by sustainability trends will continue to outperform.”
Campbell Lutyens served as exclusive placement advisor. Legal counsel was provided by Kirkland & Ellis and Advant NCTM.
Read the full strategy here.
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