Italy-based private equity firm Ambienta SGR SpA closed an environmental investing-focused fund at its hard cap of €635 million after receiving demand in excess of €1 billion.

Ambienta initially launched the fund, its third, at €500 million. Around 75% of the investors were from continental Europe, another 15% were from the U.K. and the remaining 10% from the U.S., Ambienta said.

U.K.-based Rede Partners advised the private equity firm on raising finances for the Ambienta III fund, the largest fund focused on environmental investing, according to Ambienta.

Ambienta focuses on industrial growth investing in companies driven by environmental trends. It has funds under management of over €1 billion and has completed 26 investments in resource efficiency and pollution control throughout Europe.