Mirova raises €600 million and surpasses its initial target for its first brownfield1 Infrastructure fund, the Mirova Core Infrastructure Fund
Mirova, a wholly owned subsidiary of Natixis Asset Management dedicated to socially responsible investments across various asset classes, today announces that it is nearing the final close for its first brownfield infrastructure fund, the Mirova Core Infrastructure Fund SCS SICAV-SIF (“the Fund” or “MCIF”).
Strong investor demand has resulted in the Mirova Core Infrastructure Fund surpassing its initial target of raising.
While the initial target was of €500 million, the first close of €600 million has been held in July 2015.The fund is now nearing its revised hard cap and the final close is expected to be held in October 2015.
The capital for the fund was raised from a diverse group of prominent European investors including pension funds, insurance companies and funds of funds. It also has the support of a number of leading consultants.
Threadmark acted as exclusive global placement agent in Europe, outside of France, alongside Natixis Global Asset Management who were responsible for distribution in France.
The Mirova Core Infrastructure Fund is the first brownfield PPP2 focused fund in Continental Europe and is substantially seeded.
To date it has made investments across 18 assets predominantly in European PPP and infrastructure concessions, including transportation, broadband networks and a diverse range of social infrastructure projects. It has a 25 year fund term, matching the long term nature of the investments it will hold.
Gwenola Chambon, Head of General Infrastructure funds’ activities of Mirova and Fund Principal:
“We are delighted with the strong investor support we have received for our first brownfield infrastructure fund. Our focus on core brownfield operational infrastructure, together with a seed portfolio generating significant cash yield, has proved to be very attractive to investors. and allow it to continue to play to its strengths with its proven team and strong track record in its domestic market. Upon completion of the fundraising for this fund, the Mirova General Infrastructure Platform will manage over €1 billion of assets. With Mirova’s first two equity funds dedicated to greenfield infrastructure, the Mirova Core Infrastructure Fund broadens the types of transaction we can now pursue.”
Mounir Corm, Deputy Head of General Infrastructure funds’ activities of Mirova and Fund Principal:
“The rapid capital deployment along with the team’s know-how, experience and track record in our domestic market were essential for investors. The team will focus on deploying the remaining Fund capital available for investment, leveraging its long experience of investing in PPP alongside industrial partners.”
This document is a communication of a promotional nature and is intended to professional investors only (as defined by MiFID).
Mirova offers a global responsible investing approach involving Equities, Fixed Income, General and Renewable Energy Infrastructure, Impact Investing, and Voting and Engagement. It has €5.6 billion in assets under management and €42.9 billion in Voting and Engagement. Its team of circa 50 multidisciplinary experts include specialists in thematic investment management, engineers, financial and environmental, social and governance analysts, project financing specialists and experts in solidarity finance.
Natixis Asset Management ranks among the leading European asset managers1 with €328.6 billion in assets under management and 649 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 30 June 2015.
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.
Natixis Global Asset Management, S.A. is a multi-affiliate organization that offers a single point of access to more than 20 specialized investment firms in the Americas, Europe and Asia. The firm ranks among the world’s largest asset managers.1 Through its Durable Portfolio Construction® philosophy, the company is dedicated to providing innovative ideas on asset allocation and risk management that can help institutions, advisors and individuals address a range of modern market challenges. Natixis Global Asset Management, S.A brings together the expertise of multiple specialized investment managers based in Europe, the Americas and Asia to offer a wide spectrum of equity, fixed-income and alternative investment strategies.
Headquartered in Paris and Boston, Natixis Global Asset Management, S.A.’s assets under management totaled $904.3 billion (€811.6 billion) as of June 30, 2015.2 Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France.
Natixis Global Asset Management, S.A.’s affiliated investment management firms and distribution and service groups include Active Investment Advisors;3 AEW Capital Management; AEW Europe; AlphaSimplex Group; Aurora Investment Management; Axeltis; Capital Growth Management;
Darius Capital Partners; DNCA Investments;4 Dorval Finance;5 Emerise;6 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; IDFC Asset Management Company; Loomis, Sayles & Company; Managed Portfolio Advisors;3 McDonnell Investment Management; Mirova;5 Natixis Asset Management; Ossiam; Reich & Tang Asset Management; Seeyond;7 Snyder Capital Management; Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Visit ngam.natixis.com for more information.
1 Cerulli Quantitative Update: Global Markets 2015 ranked Natixis Global Asset Management, S.A. as the 17th largest asset manager in the world based on assets under management $890.0 billion as of December 31, 2014.
2 Net asset value as of June 30, 2015. Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the U.S. Securities and Exchange Commission’s definition of ‘regulatory AUM’ in Form ADV, Part 1.
3 Division of NGAM Advisors, L.P.
4 A brand of DNCA Finance.
5 A subsidiary of Natixis Asset Management.
6 A brand of Natixis Asset Management and Natixis Asset Management Asia Limited, based in Singapore and Paris.
7 A brand of Natixis Asset Management
Threadmark is a leading independent placement agent with offices in London and New York. Since its creation in 2009, Threadmark’s experienced team has helped its clients raise over $15 billion for a broad range of credit, infrastructure, private equity and real estate strategies. It has delivered successful fundraises for established and first time funds across multiple sectors, geographies and strategies. With a strong focus on value-add services, Threadmark also acts as an advisor to its clients, providing strategic advice before, during and after a fund raise.
In the UK this material is issued and approved by NGAM UK Limited which is authorised and regulated by the Financial Conduct Authority (register no. 190258).