EDF and Amundi team-up to create asset management firm for power projects

29 October 2014 (Last Updated October 29th, 2014 18:30)

EDF Group has partnered with Amundi to create a joint asset management company.

EDF Group has partnered with Amundi to create a joint asset management company.

The new firm will raise funds from institutional and retail investors and aims to manage energy project funds on behalf of third parties. A fundraising of goal €1.5bn has been set by the two companies.

The partners expect to offer two theme-based specific investment products for the market.

While the first investment product will focus on renewable energy projects, the second will revolve around the energy-saving strategies, which can be used for B-to-B (including electro intensive industries).

"This partnership with EDF is part of Amundi's strategy to design innovating investment solutions for its clients."

Amundi CEO Yves Perrier said: "This partnership with EDF is part of Amundi's strategy to design innovating investment solutions for its clients, whilst addressing investment challenges faced by corporates."

EDF Group senior executive vice president for finance Thomas Piquemal said: "After our inaugural Green Bond issuance in November 2013, a reference in the developing green bond market, this partnership with Amundi demonstrates once again EDF's ability to innovate for the benefit of energy transition financing."

The newly formed company will try to shape investment funds based on high-yield real estate and has plans to extend assistance for non-energy related infrastructures eventually.

Energy