EDF, Amundi to raise EUR 1.5bn via joint asset management fund
(SeeNews) – Oct 29, 2014 – Electricite de France (EPA:EDF) and French asset management fund Amundi said on Wednesday they would set efforts in raising EUR 1.5 billion (USD 1.912bn) via a joint asset management company to fund energy-saving and renewable energy initiatives.
The joint venture will collect funds from institutional and retail investors and will manage funds destined for energy transition projects on behalf of third parties.
EDF will contribute to the project its experience in investment in project development, implementation and operation, while Amundi will provide its investment structuring skills and fund-raising capabilities.
The partners plan to offer two specific investment products, the first focusing on renewable energy and the second – on energy saving strategies.
The pair’s joint venture is expected to establish in parallel an investment fund based on high-yield real estate.