Operations Fund II · 2026 Vintage

Operations Fund II


Technology, Grid Management Systems and Human Capital — a platform support vehicle sized to sustain the operations needs of Alzaro's operator-led energy infrastructure portfolio.

$8.22B
Fund Size
Support Vehicle
Vehicle Type
$2M
Minimum Commitment
In Formation
Deployment Status
Strategy

Investment thesis

Operations Fund II finances the technology, grid management systems, and human capital that operate the Alzaro platform day to day. This includes control-room and SCADA systems, cybersecurity infrastructure, and the recruitment, training, and retention of the operating and technical staff who run the portfolio's generation, storage, and transmission assets. Like Operations Fund I, this vehicle supports the platform rather than holding project-level investment positions.

Coverage

Target asset types

  • Control-room, SCADA, and grid management technology systems
  • Cybersecurity infrastructure for operating technology environments
  • Recruitment, training, and retention of operating and technical staff
  • Platform-wide technology upgrades and digital operations tools
Role within the platform

Operations Fund II Role

Operations Fund II is a support vehicle, not a project-investment fund. It funds the technology systems and human capital — grid management, cybersecurity, and workforce — that keep the Alzaro platform's assets running safely and efficiently.

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