Likely buyers · Agriculture in Netherlands.

1. Idia SponsorVery High84

53 platform investments in Energy & Climate · 27 deals 2024–26

AUM €2.4B · Crédit Agricole Assurances Avenir et Territoires · 2026 vintage · deploying · check €2-15M

5 platform investments since the 2026 vintage · early in deployment vs its usual 25 per fund.

Backed GROUPE INESSENS, 2026 · Agriculture, France

2. Citizen Capital SponsorVery High79

11 platform investments in Energy & Climate · 10 deals 2024–26

AUM €235M · Citizen CIS · 2023 vintage · deploying · check €0-2M

11 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Cuisinons nos Paysages, 2026 · Agriculture, France

3. Eiffel Investment Group, Mirova SponsorVery High78

23 platform investments in Energy & Climate · 15 deals 2024–26

AUM €7.0B · Eiffel Energy Transition III · 2025 vintage · deploying · check €24-180M

8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.

Backed British Solar Renewables, 2026 · Energy, UK

4. EQT SponsorVery High77

29 platform investments in Energy & Climate · 9 in Netherlands · 51 deals 2024–26

AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B

53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.

Backed Calisen, 2025 · Energy, UK

5. Ring Capital SponsorVery High77

11 platform investments in Energy & Climate · 32 deals 2024–26

AUM €470M · Ring Altitude II · 2025 vintage · deploying · check €4-33M

17 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.

Backed Enerin, 2026 · ClimateTech, Norway

6. Swanlaab Venture Factory SponsorVery High77

6 platform investments in Energy & Climate · 18 deals 2024–26

Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying

Accelerating: 15 deals in the last 2 years vs 1.3/yr before.

Backed Granular Products, 2024 · Agriculture, Australia

7. Waterland Private Equity SponsorVery High76

7 platform investments in Energy & Climate · 56 in Netherlands · 39 deals 2024–26

Waterland Private Equity Fund IX (WPEF IX) · 2023 vintage · deploying · check €70-525M

48 platform investments since the 2023 vintage · largely deployed vs its usual 19 per fund.

Backed Argona, 2025 · ClimateTech, Belgium

8. RGreen Invest SponsorVery High76

17 platform investments in Energy & Climate · 8 deals 2024–26

AUM €2.5B · INFRABRIDGE IV · 2026 vintage · deploying · check €10-75M

3 platform investments since the 2026 vintage · mid-deployment vs its usual 4 per fund.

Backed Geogreen, 2026 · Energy, France

9. Ardian SponsorVery High75

53 platform investments in Energy & Climate · 7 in Netherlands · 51 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Bought CÉRÉLIA from Capza, 2020 · Agriculture, France

10. Just Climate SponsorVery High75

9 platform investments in Energy & Climate · 11 deals 2024–26

AUM €1.7B · Natural Climate Solutions Strategy · 2024 vintage · deploying · check €7-52M

Accelerating: 9 deals in the last 2 years vs 1.5/yr before.

Backed Afresh, 2026 · AgTech, US

11. IK Partners SponsorVery High74

4 platform investments in Energy & Climate · 22 in Netherlands · 52 deals 2024–26

AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M

18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.

Backed Savena, 2011 · Agriculture, France

12. Trill Impact SponsorVery High74

4 platform investments in Energy & Climate · 3 in Netherlands · 8 deals 2024–26

AUM €1.4B · Trill Impact Fund II · 2024 vintage · deploying

7 platform investments since the 2024 vintage · mid-deployment vs its usual 8 per fund.

Backed Noova Energy Systems, 2025 · Energy, Norway

13. Luxcara SponsorVery High74

16 platform investments in Energy & Climate · 1 in Netherlands · 4 deals 2024–26

AUM €7.5B · FLAVEO V · 2024 vintage · deploying

4 platform investments since the 2024 vintage · largely deployed vs its usual 3 per fund.

Backed Kozani Solar PV, 2026 · Energy, Greece

14. Ardian Clean Energy Evergreen Fund SponsorVery High73

51 platform investments in Energy & Climate · 7 in Netherlands · 44 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

15. Ardian Mid Cap Buyout SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

16. Ardian (Clean Energy Evergreen Fund) SponsorVery High73

50 platform investments in Energy & Climate · 7 in Netherlands · 43 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

17. Ardian (ex-AXA Private Equity) SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

18. Ardian / Crédit Agricole Assurances consortium SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

19. Ardian + Tikehau Capital + EMZ consortium (Bpifrance + Amundi + Siparex) SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 43 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

20. Ardian and Centerbridge Partners SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

21. Ardian and GoldenTree Asset Management SponsorVery High73

49 platform investments in Energy & Climate · 8 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

22. Ardian and Latour Capital SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

23. Ardian Expansion SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

24. Ardian Expansion (Fund V) SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 42 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France

25. Ardian Semiconductor SponsorVery High73

49 platform investments in Energy & Climate · 7 in Netherlands · 43 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Backed DRT, 2018 · Agriculture, France