Aviva Investors today announced the first closing of the Aviva Investors European Renewable Energy Fund.
Aviva Investors today announced the first closing of the Aviva Investors European Renewable Energy Fund.
The fund, launched in partnership with SachsenFonds, a Munich based asset management company, aims to generate strong and stable financial returns through a diversified portfolio of European investments in renewable energy infrastructure that use proven commercial technologies across solar PV, onshore wind and other clean energy sectors.
The Aviva Investors Renewable Energy Fund is targeting a total return net IRR of 11-13% with a targeted income of 8-9% paid out annually. The fund will aim to deliver attractive risk adjusted returns combining capital appreciation with regular income distributions from operating asset revenues, inflation protection features, real asset backing and absolute return potential. It also benefits from the attractive features of both private equity and infrastructure asset classes, including a 10-year investment horizon.
The fund is managed by an experienced and senior team of renewable energy infrastructure investment professionals and draws upon SachsenFonds’ successful 10-year investment track record within the European clean energy infrastructure markets.
The Aviva Investors and SachsenFonds partnership is a proven approach as demonstrated across the three existing investment funds co-managed which have invested over €650m in 30 real estate assets in Europe.
Ian Berry, Fund Manager, Aviva Investors commented: “There is an increasing appetite for clean energy investments driven by the convergence of natural resource constraints, public policy and technology innovation. The Aviva Investors European Renewable Energy Fund addresses this growing appetite for direct exposure to clean energy infrastructure with compelling returns supported by a disciplined risk management approach.”
-ends-
For more information contact:
Laura Cocker
Corporate Affairs
+44 (0)20 7809 8452
Notes to editors:
Aviva Investors
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 16 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £269 billion at 30 June 2011.
Aviva plc
- Aviva is a leading provider of life and pension products in Europe (including the UK) with substantial positions in other markets around the world, making it the world's sixth largest insurance group based on gross worldwide premiums at 31 December 2010.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £47.1 billion and funds under management of £402 billion at 31 December 2010.
* Based on 2010 published life and pensions PVNBP on an MCEV basis, total investment sales and general insurance and health net written premiums, including share of associates' premiums.
SachsenFonds
SachsenFonds Asset Management GmbH is an indirect subsidiary of the KanAm Group, based in Munich, Germany. As at 31 December 2010, SachsenFonds had 90 employees and total assets under management of €5.4 billion. Its investments consist primarily of real estate, leasing and renewable energy with investments in central Europe, as well as in Australia and the United States.