Managing partners buy Credit Suisse out of renewables investor EIP

Swiss renewables and system-critical energy infrastructure assets investor Energy Infrastructure Partners AG (EIP) announced on Friday that its co-founders and managing partners have bought the entire 30% stake in the company held by Credit Suisse AG (SWX:CSGN).

EIP was founded in 2014 as a joint venture with Credit Suisse and has been operating independently as an asset and fund manager in Switzerland and Luxembourg since 2020. As of July 2022, it is allowed to manage and market alternative investment funds (AIF) in Luxembourg under its own license. It currently manages over CHF 5 billion (USD 4.94bn/EUR 5.07bn) worth of assets on behalf of pension funds, insurance companies and large family offices.

The Zurich-based investor’s most recent renewables-related transactions include a deal to acquire a 49% stake from Iberdrola SA in the 350-MW Wikinger offshore wind farm in the Baltic Sea and an agreement with Repsol SA to buy a 25% interest in Repsol Renovables.

On its website, EIP quotes data from BloombergNEF (BNEF) pointing out that the asset manager has established itself as the leading financial investor in Nordic wind power based on installed capacity, largely thanks to a co-investment in Statkraft's 1-GW Fosen Vind project.

EIP noted that following the management buyout, Credit Suisse will continue to be an important partner through bespoke vehicles serving Swiss pension funds.

“This strategic step enables EIP to pursue our ambitious growth plans in times of strong demand for energy infrastructure, which has become more important than ever in today’s world,” stated Roland Doerig, EIP’s co-founder and managing partner.

(CHF 1 = USD 0.987/EUR 1.015)

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