Mirova finalizes the closing of its third renewable energy fund, with 350M€ 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 LuxFLAG 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€”.
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.
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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.
Mirova offers a global responsible investing approach involving Equities, Fixed Income, General and Renewable Energy Infrastructure, Impact Investing, and Voting and Engagement. It has €6 billion in assets under management and €40 billion in Voting and Engagement. Its team of circa 60 multidisciplinary experts include specialists in thematic investment management, engineers, financial and environmental, social and governance analysts, project financing specialists and experts in solidarity finance.
(1) Source: Mirova – 31/03/2016.
About Natixis Asset Management
Natixis Asset Management ranks among the leading European asset managers1 with €347 billion in assets under management and 712 employees2. Natixis Asset Management offers its clients tailored, innovative and efficient solutions organised into six investment divisions:
Fixed income, European equities, Investment and client solutions, Structured products and volatility developed by Seeyond, Global emerging developed by Emerise, and Responsible Investing developed by Mirova.
1 Source: IPE Top 400 Asset Managers 2015 ranked Natixis Asset Management as the 46th largest asset manager based on global assets under management, and by the country of the main headquarters and/or main European domicile, as of 31 December 2014.
2 Source: Natixis Asset Management - Natixis Asset Management Asia Limited as of 31 March 2016.
Reference to a ranking does not indicate the future performance of the fund manager.
Seeyond is a brand of Natixis Asset Management. Emerise is a brand of Natixis Asset Management and Natixis Asset Management Asia Limited with teams in Paris and Singapore. Natixis Asset Management Asia Limited is an asset manager, 100% subsidiary of Natixis Asset Management.
Mirova is a subsidiary of Natixis Asset Management.