Natixis Global Asset Management’s SRI-focused affiliate Mirova has completed the purchase of a 51% equity ownership stake in impact investment manager Althelia Ecosphere.
The remaining 49% stake will be held by the founding partners, Sylvain Goupille and Christian Del Valle. Mirova’s capital share will grow by 2022 through a withdrawal mechanism of the founding partners’ share.
Althelia Ecosphere, renamed to Mirova-Althelia, will allocate more than €1bn in assets under management to natural capital investing over the next five years.
Current co-heads of Natural Capital Funds, Sylvain Goupille and Christian Del Valle, will run the natural capital investing platform and continue to lead its day-to-day business activities.
The platform will operate from London and Paris and will consist of 12 seasoned investment professionals, including Mirova’s existing resources allocated to the development ‘Land Degradation Neutrality’ strategy. Mirova-Althelia is to be fully integrated over the six coming months.
Mirova-Althelia’s assets under management includes the €100m Althelia Climate Fund I now fully invested in carbon emission reduction projects in the forestry sector generating carbon credits in Africa, Asia and Latin America.
Three other strategies are currently under development, Mirova said. All products of the new entity will be distributed through NGAM’s network.