Mirova, a subsidiary of Natixis Investment Managers, has bought a private debt firm that finances renewable energy projects in Africa and Asia as part of the asset manager’s push into emerging markets and real assets.
Mirova, which oversees €27 billion in assets, has acquired SunFunder – originally established 10 years ago as a crowdfunding platform to offer financing solutions for the solar energy sector in Africa.
Over the past decade, SunFunder has launched a series of financial investment vehicles and has overseen $165 million in investments in 58 companies, deploying clean energy primarily in Africa and Asia.
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SunFunder’s 28-person team, spread across Nairobi, Paris and London, will join Mirova post-acquisition and help build a broader emerging markets platform dedicated to clean energy and climate investments.
The deal comes as Mirova, known for its expertise in impact investing in Europe, seeks to strengthen its presence in emerging markets.
“In order to respond in depth to the challenges related to the fight against global warming and social inequalities, having a local presence in emerging countries is essential,” said Philippe Zaouati, CEO of Mirova.
Following the acquisition, Mirova and SunFunder plan to launch a debt financing fund for solar energy, with an investment capacity of $500 million through approximately 70 projects spread across Africa, Asia and Latin America. .
“This acquisition is an important step for our subsidiary Mirova, which is part of our 2024 strategic plan, and contributes to strengthening Natixis Investment Managers’ private and alternative asset offering,” said Tim Ryan, Chief Executive Officer of Natixis. Investment Managers.
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