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A report from Reuters has found that private equity firm Terra Firma is supposedly partnering with China Development Bank for a multi-billion dollar fund, which will go towards investments in renewable energy. Although Terra Firma declined to comment to Reuters, a source told the news outlet that the companies are expecting to start raising between US$3 and US$5 billion in the next few months.
China Development Bank has not put a number yet on how much it will contribute to the fund, but the source noted that it will market the fund to potential investors in China, while Terra Firma courts backers in Europe and the US in the forms of traditional private equity investors and infrastructure fund investors.
Terra Firma owns three renewable energy companies, including the landfill gas producer Infinis, wind farm group EverPower and solar power generator Rinnovabile. The company will apparently look for investments in China as well as other international locales.