ENGIE Rassembleurs d’Énergies

December 2025
LFPI acquired the clean energy impact portfolio of ENGIE Rassembleurs d’Énergies

In December 2025, LFPI, an independent European investment group, acquired the portfolio of ENGIE Rassembleurs d’Énergies (ERDE), ENGIE’s energy transition impact fund, in a single secondary transaction.

ERDE was founded in 2011 to back innovative companies that put decarbonisation and clean energy access at the heart of their business model. It invested at seed and Series A, mostly through minority equity stakes, in businesses that paired low-carbon solutions with measurable social impact. Over its lifetime, ERDE deployed capital across 34 companies, of which 16+ active investments across Europe and emerging markets.

Together, ERDE’s companies had:

• brought renewable energy to 9.3 million people;
• avoided 4.4 million tonnes of CO₂-equivalent emissions;
• created 33,500 jobs in the clean economy;
• renovated or equipped 10,000 homes for lower energy use.

AltRaise acted as exclusive financial advisor to ENGIE.

For ENGIE, the sale supported its refocus on core operations in the energy transition. Selling the whole portfolio in one transaction gave the group a clean, orderly exit from 16+ minority positions, each with its own shareholders’ agreement, across several countries and climate solutions. It also handed these companies to a committed, long-term shareholder as they scaled their technologies and business models.

For LFPI, the deal brought in a diversified clean energy and impact portfolio in a single step. It opened exposure to emerging-market energy access, one of the fastest-growing segments of the energy transition. It also strengthened LFPI’s position in France’s decentralised, low-carbon energy ecosystem.

For AltRaise, the mandate drew on its experience of complex, multi-party transactions in the energy transition. Selling 16+ minority stakes as one portfolio meant valuing companies at different stages, in different sectors and countries, and coordinating founders, co-investors and the buyer toward a single closing. AltRaise ran a structured process that gave ENGIE certainty of execution and gave every portfolio company a smooth transition to its new shareholder.

The transaction showed how secondary sales can recycle capital in climate investing. Corporates can exit venture portfolios cleanly, while impact-driven investors take them into their next phase of growth.