Mirova, the leading asset manager dedicated to sustainability investing and affiliate of Natixis Investment Managers, held 250M€ first close for Mirova Eurofideme 3 in late October.
Pursuing the same strategy as its predecessors, Mirova Eurofideme 4 is meant to channel institutional money towards the energy transition infrastructure financing. The Fund is meant to invest primarily in greenfield renewable energy projects using mature technologies, energy storage and grad, as well as electric mobility and charging infrastructures across Europe.
Commitments for the 250M€ first close held in October were secured from prominent European investors including a great number of repeat investors from Mirova Eurofideme 3, Mirova’s prior energy transition fund. The Fund target size is set at 500M€, reflecting a growing interest of institutional investors for this asset class which has reached an advanced stage of maturity in terms of technology, while the improved competitiveness of renewable energy infrastructure has significantly decreased the inherent risks associated over the last years. It is now a greater part of institutional investor portfolios who understood their potential and are willing to play a role in meeting the financing needs of the energy transition. Mirova Eurofideme 3, closed at 353M€ back in July 2016
, is almost fully invested in a diversified portfolio of European infrastructure assets in line with its initial deployment timeline. Since the launch of its energy transition infrastructure financing business line, Mirova has contributed to the construction of over 170 renewable energy projects representing a total installed capacity of 1.8GW.
‘At Mirova, we believe that reaching a first close with a large majority of our long-term investors demonstrates that financing tomorrow’s infrastructures is now a top priority for institutional investors,’ says Raphael Lance
, Head of Energy Transition Funds. ‘The financing needs to support the development of energy transition infrastructures – be they renewable energy production facilities, energy grid or electrical mobility related – are massive should we ever want to reach the ambitious European greenhouse gas emission reduction targets. Thanks to the renewed trust we’ve granted and we’re really proud of, we intend to keep building long-term relationships with industrial partners and therefore contribute to their growth plan.’Note to the reader
Mirova Eurofideme 4 is a Société de Libre Partenariat (Franch limited partnership) not subject to the approval of the French Market Authority and reserved for institutional clients only in accordance with MIFID. The Fund is currently authorized to be marketed in France, Italy, Spain, Luxembourg, the UK, Slovenia and South Korea. This document is for information purposes only. This document is issued to provide initial, preliminary information about the Fund and is subject to further updating, completion, revision, verification and amendment without notice. This document does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. Recipients of this document who are considering investing in the Fund following the publication of the documentation of the Fund are reminded that any such purchase of subscription must be made only on the basis of the information contained in the documentation in its final form relating to the Fund, which may be different from the information contained in this document. No reliance may be placed for any purpose whatsoever on the information or opinion contained in this document or on its completeness, accuracy or fairness.
Mirova Eurofideme 3 is closed to subscriptions.
For further reading
Energy transition: Clean Investments for yield-hungry investors
The Renewable Energy Market in Europe
Mirova wins 3rd award in a row at SIATI 2017 with Mirova-Eurofideme 3
Mirova recognised as “Energy Investor of the Year, Europe” for 2016 at the Infrastructure Investor Awards.
Affiliate of Natixis Investment Managers
Mirova is a subsidiary of Natixis Investment Managers International.
French Public Limited liability company with board of Directors.
Share Capital: €8 322 490
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
59 avenue Pierre Mendès France
Natixis Investment Managers International
French Public Limited liability company with board of Directors (Société Anonyme)
Share capital : €51 371 060,28
RCS Paris : 329 450 738
Regulated by the Autorité des Marchés Financiers (AMF) under no. GP 90-009.
43 avenue Pierre Mendès France
Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès France
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.