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Alternative Market Briefing

Mirova raises $1.57bn for infra impact fund

Thursday, September 22, 2022

Laxman Pai, Opalesque Asia:

Sustainability-focused investment manager Mirova has raised €1.6 billion ($1.57bn) for the Mirova Energy Transition 5 (MET 5), its fifth - and by far largest - energy transition infrastructure equity fund, focused on the renewable energy and low-carbon mobility sectors.

The French firm, a subsidiary of Natixis Investment Managers, claimed in a press release that the fundraising round reflects Mirova's continued growth and reaffirms its position as a major European player in renewable energy, storage, and low-carbon mobility.

"It is testament to the hard work of Mirova's teams, who have been active in the energy transition infrastructure sector for 20 years," the company added.

The team launched their first fund of €46 million in 2002 alongside ADEME (Energy Management and Environment agency) to kick-start the wind energy sector in France. It then raised two further funds of €94m in 2008 and €354m in 2014 to open up to new geographies and technologies.

Finally, the fourth fund raised €859m in 2018 and extended its scope of activity to low-carbon mobility. Over the years, Mirova has financed more than 330 projects for a total of over 6.5 GW of potential generation capacity across Europe and Asia.

Raphael Lance, director of Mirova's energy transition infrastructure funds, said: "This fundraising demonstrates investors' confidence in our responsible investment strategy, which puts impact at the heart of its activity. O......................

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