German insurer die Bayerische has appointed Commerz Real to manage its €500m Pangaea Life Blue Energy fund from 2027.
Commerz Real won a competitive European tender to take over management of the renewable energy vehicle from 1 January 2027.
The mandate was previously held by Hamburg-based Aquila Capital, which became part of Commerz Real following its acquisition in 2024.
The new agreement also includes expanding the fund’s investment focus beyond solar, wind and hydro to include energy storage, power grids and energy efficiency projects.
Martin Gräfer, member of the management board of die Bayerische, said: “From the very beginning, the idea behind Pangaea Life was innovative – combining investment, a contribution to the energy transition and retirement provision in a single product. What was considered bold at the time has become a proven success. Together with Commerz Real, we are now taking this concept to the next level.
“We were impressed not only by their expertise and scale but above all by the people behind the business. We were looking for partners who share our values, our long-term perspective and our passion for this project. That is exactly what we have found.”
The mandate adds to Commerz Real’s infrastructure portfolio, leveraging the manager’s more than 20 years of renewable energy experience. The firm manages over 100 onshore wind farms and solar parks, alongside stakes in the Veja Mate offshore wind farm in the North Sea and German transmission grid operator Amprion.
Henning Koch, CEO of Commerz Real, said: “We are delighted to have been awarded this attractive mandate and to help shape its future development. The cooperation between Commerz Real, Pangaea Life and the insurance group die Bayerische marks the beginning of a long-term partnership and provides a strong foundation for further joint growth.”
Judith Lechermann, CIO, die Bayerische, said: “For us, it is not only about where renewable energy is generated, but also about how it is stored, transmitted and made economically viable.
“By broadening the infrastructure focus, we are strengthening the quality of the Blue Energy portfolio and positioning the fund for the next phase of the energy transition.”
Uwe Mahrt, CEO of Pangaea Life, said: “Pangaea Life Blue Energy makes the energy transition tangible and investable for our clients. Together with Commerz Real, we are expanding our ability to consistently pursue this path.”
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