Investors team up to create Nordic's largest climate and infrastructure fund

Europe
On the 11/12/20 at 8:17AM

by

Tuba Raqshan

Storebrand Asset Management and Danish pension funds PKA and PenSam will jointly commit up to NOK 45bn (€4.23bn) for a new climate and infrastructure fund, touted to be one of the largest in the Nordic region.
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AIP Management, a jointly owned company, will establish and manage the new fund. AIP Management already manages more than NOK 30bn through investments in wind turbines and solar parks on behalf of PKA and PenSam, which have increased their commitments by 50%.

Storebrand will enter as the first investor outside Denmark, into this partnership. “This marks the start of our expansion into infrastructure as an investor and asset manager and it enables us to further contribute to the green transition in an excellent way,” said Jan Erik Saugestad, CEO of Storebrand Asset Management.

Jon Jonsen, CEO of PKA, said that the total commitment of NOK 45bn to one of the largest climate and infrastructure funds ever in the Nordic region is an attempt to raise common ambitions for sustainable investments to the next level. “It also shows the success AIP has had since the platform was established in 2012 and that the model is unique not only in a Danish context, but in an international light,” added Jonsen.

This co-operation across the Nordic borders shows that we are stronger together, underlined Torsten Fels, CEO of PenSam. “It is precisely this kind of collaboration that is the key to us, so that we on behalf of our members, can continue to push the green transition in the right direction,” said Fels.