Stockholm (NordSIP) – Storebrand, PKA and PenSam have committed to investing up to SEK43 billion in a new climate and infrastructure fund, the AIP Infrastructure II, the largest such fund in the Nordic region, according to Jan Erik Saugestad, CEO of Storebrand Asset Management.
The investment partnership between the Norwegian asset manager and two of the Danmark’s largest pension funds will be managed by the joint company AIP Management and will aim to increase long-term economic growth while at the same time contributing to the green transition.
“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 kinds 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 of Storebrand Asset Management.
“With a total commitment of up to €4 billion in 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.
“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,” says Torsten Fels, CEO of PenSam, emphasising the value of Nordic co-operation.
With three well-established investors on the platform, AIP is eyeing opportunities for large infrastructure projects that contribute to the energy transition, primarily in Europe and the USA.
“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 of AIP Management.