France headquartered asset management company
Parent bank Fortis has invested €50m as a cornerstone investor in the London-based fund.
The fund will invest in clean energy projects, and is looking to achieve a solid risk return profile, with a combination of capital appreciation and cash flow generation. In order to diversify risk, it will include a mix of asset exposure to geographies, technologies and currencies to diversify risk.
Fortis Investments is taking a particular focus on wind, small hydro, solar photovoltaic (PV) and biomass deals.
The fund will be global in scope, including Brazil and India, although most of the portfolio will consist of European clean energy assets with the capability to penetrate emerging markets and emerging technologies.
The vehicle will be run by a team of five: CEO Joost Bergsma, CFO and investment director David Millan, technical director Peter Dickson, and investment director Scott Lawrence.
Dickson said: “We believe that the outlook for investing in clean energy projects is very favourable given its underpinning by environmental and social necessity and by government legislation. In particular, EU legislation proposals are now aimed at achieving 20% of energy production from renewable sources. As governments and policy makers set objectives for achieving renewable energy targets, pension funds and other institutional investors can benefit from the long-term growth in the sector.”