Mirova finalises the closing of its third renewable energy fund, with 350M€1 commitment
Mirova, Natixis Asset Management’ responsible investment manager, announced the final closing of its renewable energy fund Mirova-Eurofideme 3, with 350M€ commitment, well above its 200M€ initial target.
The fundraising has benefited from support by both existing and new institutional investors from several European countries, including the European Investment Bank which invested 40M€.
Mirova-Eurofideme 3 has already made 8 investments to date for close to 100M€, in partnership with independent power producers and developers, financing more than 300MW of solar, wind and hydro projects across Europe, with France and the Nordics being its key markets.
This is the third investment fund managed by Mirova dedicated to investing in equity in greenfield renewable energy assets in Europe, since the launch of the dedicated Mirova renewable activity in 2002. Its first two funds, Fideme and Eurofideme 2, already contributed to finance more than 700MW of renewable energy assets. Mirova Renewable Energy team received the 2015 award for “Best Green Strategy” at the SIATI Infrastructure Summit at year-end 2015. Mirova-Eurofideme 3 was one of the first infrastructure funds to receive the new “Energy and Ecological Transition for Climate” label promoted by the French Ministry of Ecology, Sustainable Development and Energy since May 2016 to reward investors active in financing the energy and ecological transition. Mirova has also received the LuxFLAG2 label, for the quality of ESG implementation and reporting to investors.
Raphael Lance, Head of Renewable Energy Funds at Mirova, commented: "We are very proud to strengthen the relationship we have built over time with our existing investors. Reinvesting with us is a true vote of confidence. We are also thrilled that so many renown investors, coming from different geographies and so many different profiles, have decided to entrust Mirova for the first time to deploy their capital in renewable energy projects. We will continue to actively search for the best opportunities in this growing market, leveraging on our network of high quality industrial partners.”
Philippe Zaouati, CEO of Mirova, added: "The success of Mirova-Eurofideme 3’s fundraising is a positive feedback to our continuous effort to offer to institutional investors solutions which address climate issues and to introduce ESG criteria into diversified asset classes, including green bonds, thematic listed equity strategies, and in particularly sustainable infrastructure, in which assets under management are fast growing, now reaching 1.6 Mds€”.
Note to the reader
Investments in Infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. Regulatory Documents of Funds provide the source of information on these Funds. Their investment objectives, strategies and main risks are described in their respective regulatory documents. Their fees, charges and performances are also described in these documents.
About Mirova
Mirova, an asset management company wholly owned by Natixis Asset Management3, brings to bear almost 30 years of experience in Socially Responsible Investing (SRI). Mirova offers a conviction-driven approach in order to combine value creation with sustainable development with a unique and global product offering: listed equities, fixed income, infrastructure, impact investing, voting and engagement.
With 60 employees, Mirova has €6 billion in assets under management4.
1 Amount of A-Shares subscribed by investors
2 Label granted by LuxFLAG (Luxembourg Fund Labelling Agency), certifying that the Investment Fund primarily invests its assets in environment-related sectors in a responsible manner. Label granted on 16/06/2016 for 1 year. Reference to a ranking and/or an award does not indicate the future performance of the UCITS/AIF or the fund manager.
3 Since 01.01.2014.
4 Source : Natixis Asset Management as at 31 March 2016
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, are as of 13 June 2016 and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material. This material may not be distributed, published, or reproduced, in whole or in part. Although Natixis Asset Management and AEW Europe believe the information provided in this material to be reliable, it does not guarantee the accuracy, adequacy or completeness of such information.
MIROVA
Mirova is a subsidiary of Natixis Asset Management
Limited liability company - Share capital € 7 461 327,50
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
Registered Office: 21 quai d’Austerlitz - 75 013 Paris
www.mirova.com
The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of the mentioned date, and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
This material has been provided for information purposes only to investment service providers or other Professional Clients, Qualified or Institutional Investors and, when required by local regulation, only at their written request.
The fundraising has benefited from support by both existing and new institutional investors from several European countries, including the European Investment Bank which invested 40M€.
Mirova-Eurofideme 3 has already made 8 investments to date for close to 100M€, in partnership with independent power producers and developers, financing more than 300MW of solar, wind and hydro projects across Europe, with France and the Nordics being its key markets.
This is the third investment fund managed by Mirova dedicated to investing in equity in greenfield renewable energy assets in Europe, since the launch of the dedicated Mirova renewable activity in 2002. Its first two funds, Fideme and Eurofideme 2, already contributed to finance more than 700MW of renewable energy assets. Mirova Renewable Energy team received the 2015 award for “Best Green Strategy” at the SIATI Infrastructure Summit at year-end 2015. Mirova-Eurofideme 3 was one of the first infrastructure funds to receive the new “Energy and Ecological Transition for Climate” label promoted by the French Ministry of Ecology, Sustainable Development and Energy since May 2016 to reward investors active in financing the energy and ecological transition. Mirova has also received the LuxFLAG2 label, for the quality of ESG implementation and reporting to investors.
Raphael Lance, Head of Renewable Energy Funds at Mirova, commented: "We are very proud to strengthen the relationship we have built over time with our existing investors. Reinvesting with us is a true vote of confidence. We are also thrilled that so many renown investors, coming from different geographies and so many different profiles, have decided to entrust Mirova for the first time to deploy their capital in renewable energy projects. We will continue to actively search for the best opportunities in this growing market, leveraging on our network of high quality industrial partners.”
Philippe Zaouati, CEO of Mirova, added: "The success of Mirova-Eurofideme 3’s fundraising is a positive feedback to our continuous effort to offer to institutional investors solutions which address climate issues and to introduce ESG criteria into diversified asset classes, including green bonds, thematic listed equity strategies, and in particularly sustainable infrastructure, in which assets under management are fast growing, now reaching 1.6 Mds€”.
Note to the reader
Investments in Infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. Regulatory Documents of Funds provide the source of information on these Funds. Their investment objectives, strategies and main risks are described in their respective regulatory documents. Their fees, charges and performances are also described in these documents.
About Mirova
Mirova, an asset management company wholly owned by Natixis Asset Management3, brings to bear almost 30 years of experience in Socially Responsible Investing (SRI). Mirova offers a conviction-driven approach in order to combine value creation with sustainable development with a unique and global product offering: listed equities, fixed income, infrastructure, impact investing, voting and engagement.
With 60 employees, Mirova has €6 billion in assets under management4.
1 Amount of A-Shares subscribed by investors
2 Label granted by LuxFLAG (Luxembourg Fund Labelling Agency), certifying that the Investment Fund primarily invests its assets in environment-related sectors in a responsible manner. Label granted on 16/06/2016 for 1 year. Reference to a ranking and/or an award does not indicate the future performance of the UCITS/AIF or the fund manager.
3 Since 01.01.2014.
4 Source : Natixis Asset Management as at 31 March 2016
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, are as of 13 June 2016 and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material. This material may not be distributed, published, or reproduced, in whole or in part. Although Natixis Asset Management and AEW Europe believe the information provided in this material to be reliable, it does not guarantee the accuracy, adequacy or completeness of such information.
MIROVA
Mirova is a subsidiary of Natixis Asset Management
Limited liability company - Share capital € 7 461 327,50
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
Registered Office: 21 quai d’Austerlitz - 75 013 Paris
www.mirova.com
The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of the mentioned date, and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
This material has been provided for information purposes only to investment service providers or other Professional Clients, Qualified or Institutional Investors and, when required by local regulation, only at their written request.