Raising the bar - Storebrand, PKA and PenSam commit to a new climate and infrastructure fund of up to NOK 45 billion
Storebrand teams up with two of Denmark's largest pension funds, PKA and PenSam, and jointly commit up to a total of NOK 45 billion in a new climate and infrastructure fund. The fund is to date one of the largest in the Nordic region.
"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. Our clients show great interest in these kind of long-term investments with stable returns and positive impact. We therefore embrace this collaboration which gives our clients access to a large and diversified investment pool and look forward to growing this part of our business further allowing for our clients to co-invest with us", says Jan Erik Saugestad, CEO Storebrand Asset Management.
Common ambition and sustainable leadership
The new fund is established and managed by AIP Management, PKA, PenSam and Storebrand Asset Management's jointly owned investment company, which already manage more than NOK 30 billion in i.e. wind turbines and solar parks on behalf of PKA and PenSam. The existing investors increase their commitments by 50 % and Storebrand enters as the first investor outside Denmark. Through this new collaboration, the parties continue to build on their leadership in sustainable and green investments.
“With a total commitment of NOK 45 billion to one of the largest climate and infrastructure funds ever in the Nordic region, we are raising our common ambitions for sustainable investments to a new level. The entry of a large and experienced investor such as Storebrand, allows us to further strengthen AIP Management. 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, says Jon Jonsen, CEO of PKA.
Torsten Fels, CEO of PenSam, emphasizes on the value of Nordic co-operation:
“With this co-operation across the Nordic borders, we show that we are stronger together. 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."
"We are very pleased with the trust PKA and PenSam show the AIP team with the new and increased commitments to this fund. At the same time, we are proud to be able to attract such a significant partner as Storebrand to the AIP platform as a co-investor and co-owner. We look forward to continuing to execute on the successful investment strategy and deliver attractive risk-adjusted returns to current and future investors”, says Kasper Hansen, Managing Partner at AIP
Storebrand's ambition is to provide our customers with financial freedom and security by being the best provider of long-term savings and insurance. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 2 million individual customers, and has its headquarter at Lysaker outside of Oslo, Norway. Storebrand manages NOK 921 bn and is one of the largest asset managers in the Nordics. Storebrand (STB) is listed on Oslo Stock Exchange. Visit us at www.storebrand.com and follow us on Twitter: @Storebrand_no