Investment Fund 9 · 2026 Vintage · Decarbonization & New Energy

Decarbonization & New Energy


Voluntary and compliance carbon markets, green hydrogen production and distribution, and carbon capture, utilization and sequestration. — targeting a net IRR of 13–18% across contracted, operator-led energy assets.

$11.50B
Fund Size
13–18%
Net IRR Target
$2M
Minimum Commitment
In Formation
Deployment Status
Strategy

Investment thesis

Fund 9 invests across voluntary and compliance carbon markets, green hydrogen production and distribution, and carbon capture, utilization and sequestration (CCUS). These are complementary decarbonization levers: carbon markets monetize emissions reductions, green hydrogen bridges electrons and molecules for hard-to-electrify demand, and CCUS addresses point-source and atmospheric carbon directly. We favor projects anchored by long-term offtake or credit-purchase agreements with creditworthy buyers and commercially proven technology.

Coverage

Target asset types

  • Compliance and voluntary carbon offset origination and aggregation
  • Green hydrogen electrolyzer facilities and ammonia offtake
  • Point-source carbon capture at industrial and power facilities
  • Direct air capture (DAC) and carbon sequestration infrastructure
Sample deal profile

Coastal Green Ammonia Facility

An electrolyzer-based green hydrogen facility co-located with ammonia synthesis capacity, anchored by a long-term offtake agreement with an industrial buyer and grid-connected renewable power supply.

Representative, illustrative profile of the asset type this fund targets. Not an offer, commitment, or existing holding.

Fees & terms

Vehicle summary

VehicleDelaware limited partnership
Preferred return8% compounded annually
Carried interest20% above 8% pref (100% GP catch-up)
Fund term12–15 years + two 1-year extensions
Investment period5–6 years
Minimum LP commitment$2 million
GP commitment2% of total fund commitments
Distribution waterfallEuropean (whole-fund)
Fund administratorIndependent third-party administrator (to be appointed)
AuditorPricewaterhouseCoopers LLP
Legal counselLepore Law Group
We size each fund to the durability of its cash flows, not the appetite of the moment. Concentration follows conviction, and conviction follows underwriting.
Alzaro Energy Investment Committee

Talk to our investor relations team

For fund materials, capital account information, and partnership inquiries, reach Alzaro Energy directly.

Contact Investor Relations