The infrastructure debt investment platform of Italian insurer Generali has created two European funds with a plan to raise up to €700m each for each vehicle.
Generali Global Infrastructure (GGI), created in 2018, has launched an energy transition, environment and green mobility fund and a digital transition and social infrastructure-focused fund with an initial €145m capital for each fund from parent company Generali.
The manager said the funds, which are open to institutional investors, will target between €400m and €700m fundraise each.
The funds aim to support the recovery of the European economies from the adverse impacts of Covid-19, through sustainable and resilient investments in infrastructure, and offer a flexible allocation between debt and equity investments.
Timothy Ryan, CEO of Generali Asset Management, said: “The European Green Deal implies a renovated effort to accelerate the environmental and social transition, generating long term positive impacts on the lives of citizens and businesses in Europe.
“Infrastructures contribution will be strategic in this development path, bringing strong social and economic benefits to society. The new GGI funds confirm the core attention of our Group to sustainable investments, driving capital towards high-quality, positive-impact projects.”
Philippe Benaroya, CEO of Generali Global Infrastructure, said the current crisis represents an opportunity for governments to accelerate ambitious investments in the fields of energy and social transition, channelling capital to make economies and societies more resilient and sustainable.
“Infrastructure is an established counter-cyclical asset class, and one of the few capable of federating public and private capital towards the achievements of long term positive financial and extra-financial impacts.
“This asset class is a major theme for investors looking for resilient investments, offering attractive returns in a low-rates environment.”
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