Aegon AM to distribute new infrastructure debt fund for La Banque Postale AM
Aegon AM to distribute new infrastructure debt fund for La Banque Postale AM
Aegon Asset Management is to distribute La Banque Postale Asset Management’s new European Responsible Infrastructure Debt Fund as part of its strategic partnership with the French firm. The move will see AAM take responsibility for the distribution of the fund in Austria, Germany and the Benelux countries.
The fund, which has announced its first closing, aims to take advantage of new market dynamics and investment opportunities in sectors related to energy transition and digital infrastructure in Europe, the investment strategy of this new fund has been enriched by greater geographical and sectoral diversification as well as direct lending.
The fund also favors assets eligible for the specific treatment of infrastructure investments under Solvency II resulting in reduced capital expenditure.
LBPAM European Responsible Infrastructure debt fund will be marketed throughout 2019 with a target size of €600 million. LBPAM is backed by its partner Aegon Asset Management for the fund marketing in Europe outside of France. A first closing of the fund has taken place for an amount of €375m subscribed by institutional investors. The fund already benefits from several investments made in Europe.
AAM will distribute the fund as part of its strategic partnership with the French business. LBPAM is a leading asset manager based in Paris with currently approximately €230bn of assets under management. LBPAM offers a range of products, services and solutions from fixed income, to equities, solutions and private debt. In addition, LBPAM plans to become fully ESG as a company and all of its investment strategies in 2020
René Kassis, Head of Private Debt at LBPAM says: "Private debt investing in real assets and real economy is an answer to major challenges faced by our clients: to generate stable returns in volatile markets and low interest rates context, and to act as socially responsible investors.
We will also be one of the first players in this market to offer our clients in infrastructure debt a reporting on the carbon footprint and the socio-economic impact of the investments, thereby valuing their role in supporting climate transition and economic and social development of local territories.”
Fernand Schürmann, partnership relations director at AAM says: “LBPAM is widely recognized for its expertise in infrastructure debt, and we are pleased to be able to give our clients access to this specialism as part of our strategic partnership with them.”