Investment firm Ambienta has closed its Ambienta II fund at €323.5 million (£254 million) ahead of its €300 million target.
The fund will target the growth focused strategy of Ambienta by targeting businesses capturing long-term global trends towards resource efficiency and pollution control.
Investors included institutions from around the world including pension funds, insurance companies, funds of funds and family offices in Europe and the United States.
Ambienta is a European private equity firm based on Milan, Munich and London.
Managing partner Nino Tronchetti Provera (pictured) said: “We believe that the success of our fundraising, which closed above the original target and ahead of schedule, reflects investors’ appreciation of both the huge opportunity for long term environmental trends, and the effectiveness of our industrial strategy to address it. We are now focused on continuing to identify attractive opportunities across Europe and delivering strong returns for our investors.”