Inspired Evolution Investment Management raises $216m

The Capetown-based asset manager closes its second renewable fund.

Inspired Evolution Investment Management held a final close of Evolution Two Fund at $216 million, shy of the $250 million they had been targeting. Though it more than doubles the $90 million in capital commitments accumulated by predecessor vehicle, Evolution One Fund. The infrastructure and growth fund will invest in low carbon clean energy projects and resource efficiency technologies in Sub Saharan Africa.

Evolution II secured commitments from a diverse mix of limited partners, including CDC Group, European Investment Bank, Morgan Stanley Alternative Investment Partners, Norfund and Swiss Investment Funds for Emerging Markets.