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Laxman Pai, Opalesque Asia: Mirova, a Paris-based impact investing subsidiary of Natixis Investment Managers, acquired SunFunder, a private debt management company based in Nairobi, Kenya, that finances renewable energy projects in Africa and Asia.
Financial details of the acquisition were not disclosed.
SunFunder was set up as a crowdfunding platform ten years ago, with a focus on offering financing solutions for the decentralized solar sector in Africa. The renewables financier has invested more than $165 million in 58 companies "deploying clean energy mainly in Africa and Asia, such as off-grid solar home systems in Malawi, village mini-grid projects in Kenya, and commercial and industrial rooftop installations in Nigeria and Thailand," according to a joint news release.
Mirova will retain SunFunder's entire team, based mainly in Nairobi, Paris, and London, it said. The asset management company through its investment strategies in energy transition infrastructure, private equity, social impact investing, and listed equities - is thus accelerating its commitments in emerging countries, where it is already present in natural capital.
"In order to thoroughly address the challenges that come with the fight against global warming and social inequalities, having a local presence in emerging countries is critical. We are delighted that SunFunder's teams, with their proven experience and expertise, are joining us. Together, we will pursue our efforts to meet th...................... To view our full article Click here
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