Alzaro Energy
Investment Fund 20 · 2028 Vintage · Core-Plus I

Core-Plus I

Stabilized assets with light value-add and modest leverage. — targeting a net IRR of 13–18% across contracted, operator-led energy assets.

$4.03B
Fund Size
13–18%
Net IRR Target
$2M
Minimum Commitment
In Formation
Deployment Status
Strategy

Investment thesis

Stabilized assets with light value-add and modest leverage. This vintage targets institutional-quality assets with defined risk-return profiles aligned with LP mandates for long-duration exposure to the renewable energy platform.

Coverage

Target asset types

  • Stabilized generation and storage assets with light repositioning upside
  • Contract renewal, extension, and re-contracting opportunities
  • Modest leverage with disciplined capital structure
  • Selective operational and efficiency improvements
Sample deal profile

Mid-Life Wind Repowering Program

A 450 MW operating onshore wind portfolio nearing the midpoint of its useful life, repowered with upgraded turbines and extended offtake to lift capacity factor and contracted revenue with modest incremental leverage.

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.

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