Generali Investments is broadening its real assets offering with the launch of a business venture created to make equity investments in greenfield infrastructure projects.
The €505bn asset manager has teamed up with a number of executives from the clean energy and funds management industries to launch Sosteneo, a company that operates primarily in Europe and Asia-Pacific.
Generali Investments holds a majority stake in Sosteneo with the remaining interest held by managing partners Umberto Tamburrino, as Sosteneo’s Europe CEO and CIO, Asia-Pacific CIO Ivor Frischknecht, portfolio management head Chris Twomey, and investor relations head Chris Deveshold.
The Sosteneo board is chaired by Stefano Caselli, dean of the SDA Bocconi School of Management.
Carlo Trabattoni, Generali’s CEO of asset and wealth management, said: “With Sosteneo, we are concretely progressing in our commitment to support sustainable growth in Europe and beyond, by financing infrastructure projects essential to accelerate the path towards carbon neutrality and to secure wider availability of clean energy.
“At the same time, I am proud to be strengthening our offering of investment solutions in real assets with even more ESG-oriented investment capabilities.”
Tamburrino, said Sosteneo is “committed to delivering on our objective of providing attractive commercial returns whilst accelerating the transition to a clean-energy future”.
Tamburrino held various leadership positions, including CEO of Elliott Green Power, CEO of Antin Solar Investments and co-head of renewable energy principal investments at Deutsche Bank.
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