The EDF Group and Amundi have forged a partnership to set up a joint asset management company whose purpose is to raise funds from institutional and retail investors and to manage on behalf of third parties funds intended to finance projects relating to energy transition.

 

EDF will contribute to this project its access to investment opportunities within the energy sector. It will be a driving force behind investment for project development, implementation and operation. Amundi will provide its investment structuration skills as well as its fund-raising capabilities.

 

The partnership will benefit from the wide range of activities developed by EDF on energy transition, while targeting the critical mass required for streamlined investment solutions.

 

EDF and Amundi intend to offer the market two theme-based specific investment products. The first will be dedicated to renewable energy (wind power, photovoltaic, small hydro, etc.). The second will focus on energy saving strategies for B-to-B (including electro intensive industries). EDF and Amundi have set the fund-raising goal at 1.5 billion euros.

 

This unique partnership between an asset manager and an industrial company seeks to develop a new alternative asset class, decorrelated from the volatility of traditional investment markets, in particular to draw long term investments for the benefit of the real economy, a joint statement said.

 

The joint asset management company between EDF and Amundi is expected to create in parallel an investment fund based on high yield real estate. This approach could be extended eventually to non-energy related infrastructures.