The company has a portfolio of wind projects in Italy and France at various stages of development. It operates 112MW in Italy, with a further 70MW of projects already permitted.
In France it is a 50:50 partner in a joint venture (JV) with KKR Infrastructure. The JV has 165MW of operational wind projects, with a further pipeline of 40MW.
The fund, set up by Australian investment bank Macquarie, is buying the developer from its parent company, utility Sorgenia.
This is the fifth investment made by the fund and its first in wind power. However, Macquarie has invested directly in a number of wind developments, including in the US, Italy and Mexico.
The companies did not reveal the financial terms of the deal.