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New Mirova co-investment vehicle participates in major renewable infrastructure project alongside Engie and Credit Agricole Assurances
Submitted
25/01/2021 - 10:09am
Mirova, an affiliate of Natixis Investment Managers, has created a new co-investment vehicle, which has attracted existing investors in its current Energy Transition fund, Mirova Eurofideme 4 (MEF4), as well as new clients.
The vehicle was created specifically to participate, alongside Engie and Credit Agricole Assurances, in the acquisition of the second largest hydroelectric portfolio in Portugal from EDP. The deal, valued at EUR2.2 billion, completed in late December.
Investors in the new co-investment vehicle include Banca March, Merseyside Pension Fund, Natixis Assurances, Groupama, EB Erneuerbare Energien Fonds Europa and LHI Group. MEF4, together with the MEF4 co-investment vehicle, own 25 per cent of the total consortium. Engie owns 40 per cent, while Crédit Agricole Assurances own 35 per cent.