Fund activitiesklimaVest: The largest ELTIF in Europe - confirmed by Scope Fund Analysis¹

Scope Fund Analysis confirms: klimaVest is the leading ELTIF in Europe

With a fund volume of 1.8 billion billion euros, klimaVest occupies first place among all European long-term investment funds (ELTIFs) in Europe. This has been confirmed by the independent rating agency Scope Fund Analysis in its recent market study “Mass launch - Overview of the ELTIF market 2025/2026” (26 March 2026).¹ Scope is one of the leading European analysis companies for alternative investments and has monitored the ELTIF market since its inception. The assessment is based on a comprehensive survey of 47 asset managers with data on 137 ELTIFs as well as personal interviews with 60 market participants.

For investors, sales partners and anyone interested in long-term infrastructure investments, the report delivers a clear message: klimaVest is not only the largest ELTIF on the German market - it is the largest ELTIF across Europe.

What is an ELTIF - and why is it playing a growing role?

An ELTIF (European Long-Term Investment Fund) is a regulated investment fund that provides private investors with access to long-term investments in tangible assets - including renewable energy, infrastructure and private equity - for the first time. Prior to ELTIF regulation, these asset classes were largely reserved for institutional investors. Objective of the European legislator: mobilise private capital for the transformation of the European economy.

Scope precisely describes the purpose of the ELTIF: Investors should “be made easier to enter into unlisted investments in order to support the transformation of the European economy towards greater sustainability and the expansion of infrastructure.” Without non-governmental investors, these projects would hardly be manageable.

klimaVest: Market leader with substance

Within this dynamically growing market, klimaVest holds a prominent position according to the scope. In concrete terms, the study states:

In addition, Scope klimaVest, together with two other funds, names it as one of the three largest ELTIFs worldwide, which together account for 12 percent of the total European ELTIF market volume.

For the German market, klimaVest holds a share of 36.8 percent of the total German ELTIF volume - after 50.6 percent in the previous year, which impressively shows that the market has become wider, but klimaVest maintains its leading position. In addition to Commerz Real, five other asset managers in Germany raised more than 100 million euros with one ELTIF each in 2025 - a sign of a maturing, competitive market in which klimaVest continues to clearly dominate.

30,000 investors, a strong network - and a fund that stays on track

More than 30,000 investors have so far opted for klimaVest - an expression of confidence in a fund that has consistently focused on long-term investments in renewable energies and sustainable infrastructure since its launch. This range is made possible by a broad sales network: klimaVest is accessible via Commerzbank as well as an extensive network of selected savings banks, Volks- and Raifeissenbanken and other independent financial advisors and sales partners. Scope confirms that the sales success of ELTIFs is largely driven by intensive training and sales support as well as access to banking sales - both strengths that klimaVest has consistently expanded from the outset. 

Why the ELTIF market continues to grow - and what this means for klimaVest

The scope outlook is clearly positive: The providers surveyed expect an average growth of 25 to 30 percentin ELTIF assets under management for 2026. Under favourable conditions, Scope expects an expansion of the market volume to up to 50 billion euros by the end of 2026. In the medium term, a market volume of 70 to 80 billion euros by the end of 2028 seems realistic.

For klimaVest this means: According to the scope, the segment in which it operates - infrastructure and renewable energies - remains one of the most in demand in the ELTIF universe. Investors perceive the topic as particularly clear and tangible: “Investing in solar parks, wind turbines or power lines also seems more tangible than issuing loans due to the expansion goals and the enormous need for infrastructure investment,” says Scope.