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EDF and Amundi set up a partnership in asset management aimed at financing energy transition

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The EDF Group, a specialist in low carbon energy, and asset manager Amundi have teamed up to create a joint asset management company.

The new company will 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 its access to investment opportunities within the energy sector. The group will be a driving force behind investment for project development, implementation and operation. Amundi will provide its investment structuration skills as well as its fundraising capabilities.
 
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 fundraising goal at EUR1.5 billion.
 
The 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 order in particular to draw long term investments for the benefit of the real economy.
 
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.
 
Yves Perrier, Amundi’s CEO, says: “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”.
 
Thomas Piquemal, EDF Group’s senior executive vice president in charge of finance, says: “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.”

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