Ambienta has raised more than €500m, or roughly $594m, for its first private credit fund dedicated to financing environmentally sustainable companies in Europe, signalling continued investor appetite for green lending strategies.

The Milan-based firm said the fund targets mid-market borrowers whose products and services are driven by environmental sustainability rather than regulatory incentives. Around €300m has already been deployed across 13 companies operating in areas such as energy infrastructure, water, and food ingredients.

Investors include Netherlands-based APG Asset Management, the European Investment Fund, and the UK’s Environment Agency Pension Fund, alongside commitments from Asia and North America.

Ran Landmann, partner and chief investment officer of Ambienta’s credit arm, said the strategy around ESG remains a focus for the company. “Our goal remains unchanged, deliver credit solutions that are both financially robust and environmentally impactful. By focusing on rigorous credit selection and supporting companies advancing sustainability, we can create long-term value for our investors and the communities they serve,” he said.

The firm uses sustainability ratchets, allowing pricing discounts if borrowers meet predefined environmental performance targets. These are applied selectively rather than across all transactions.

Founded in 2007, Ambienta manages more than €4bn in assets. The fund launch comes as private credit managers increasingly carve out specialist strategies to differentiate themselves in a crowded European lending market. 

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