SRI-focused asset manager Mirova, part of Natixis Global Asset Management, has entered into exclusive negotiations to purchase a majority stake in London-based impact investment boutique Althelia Ecosphere.
Mirova stated that the projected acquisition of Althelia aims to create a European platform operating from London and Paris and dedicated to natural capital investing.
The platform would provide investors with access to investment solutions addressing global environmental challenges such as climate change, protection of landscapes, biodiversity, soil and marine resources.
The transaction is expected to close within the next few weeks. Althelia’s managing partners will still hold a significant stake in the firm following completion of the deal.
A progressive withdrawal mechanism would align medium-term interests and gradually increase Mirova’s stake in Althelia over the next five years.
Launched in 2012, Althelia sources and finances sustainable land use, biodiversity, and ecosystem-based climate activities, with a focusus on value investments that deliver asocial, environmental and economic performance.
Althelia has raised assets for a fund whose goal is to invest in carbon emission reduction projects in the forestry sector that generate carbon credits in Africa, Asia and Latin America.
“We are pleased to partner with Althelia and have tremendous respect for the experience and talent of the
team,” said Philippe Zaouati, chief executive officer of Mirova.
“We strongly believe that natural capital is the next frontier of impact investment and both specialist skills and a critical size are required to successfully address this nascent but promising market.”
Sylvain Goupille, co-founder and director of Althelia, commented: “Joining forces with an entrepreneurial company such as Mirova, backed by a large organization, is a winning choice in terms of business development and an important step to move ecosystem-based finance into the mainstream investment space.”
Mirova had €6.9bn of assets under management as of 31 March 2017.