Samsung Life Insurance has acquired 20% of infrastructure fund Meridiam, for an undisclosed sum, through a capital increase.

The South Korean insurer is now a 20% shareholder alongside Meridiam’s management, who still control 80% of the Paris-based firm.   

Meridiam said the proceeds of the capital increase would allow it to accelerate its next growth phase, focusing on sustainable assets with a strong strategic, economic, social and environmental impact.

The additional funds will underpin Meridiam’s “strong development ambitions” in its three businesses of sustainable mobility, innovative low-carbon solutions and essential public services in Europe, the Americas and Africa, it added.

Thierry Déau, Meridiam’s CEO and founder, said: “This capital increase opens a new path to ambitious and responsible growth. We have strong ambitions and the necessary means to implement our roadmap.”

He added that the strategic partnership with Samsung Life “demonstrates Meridiam’s attractiveness to prestigious investors”.

This deal follows Samsung Life’s acquisition in 2021 of a 25% stake in real estate fund manager Savills Investment Management.

To read the latest edition of the latest IPE Real Assets magazine click here.