Storebrand, PKA and PenSam commit to a new climate and infrastructure fund of up to NOK 45 billion

Storebrand teams up with two of Denmark's largest pension funds, PKA and PenSam, and jointly commit up to a total of NOK 45 billion in a new climate and infrastructure fund. The fund is to date one of the largest in the Nordic region.

10.November 2020

Jan Erik Saugestad2
CEO Storebrand Asset Management, Jan Erik Saugestad.

"This marks the start of our expansion into infrastructure as an investor and asset manager and it enables us to further contribute to the green transition in an excellent way. Our clients show great interest in these kind of long-term investments with stable returns and positive impact. We therefore embrace this collaboration which gives our clients access to a large and diversified investment pool and look forward to growing this part of our business further allowing for our clients to co-invest with us", says Jan Erik Saugestad, CEO Storebrand Asset Management.

Common ambition and sustainable leadership

The new fund is established and managed by AIP Management,  PKA, PenSam and Storebrand Asset Management's jointly owned investment company, which already manage more than NOK 30 billion in i.e. wind turbines and solar parks on behalf of PKA and PenSam. The existing investors increase their commitments by 50 % and Storebrand enters as the first investor outside Denmark. Through this new collaboration, the parties continue to build on their leadership in sustainable and green investments.

“With a total commitment of NOK 45 billion to one of the largest climate and infrastructure funds ever in the Nordic region, we are raising our common ambitions for sustainable investments to a new level. The entry of a large and experienced investor such as Storebrand, allows us to further strengthen AIP Management. It also shows the success AIP has had since the platform was established in 2012 and that the model is unique not only in a Danish context, but in an international light, says Jon Jonsen, CEO of PKA.

Torsten Fels, CEO of PenSam, emphasizes on the value of Nordic co-operation:

“With this co-operation across the Nordic borders, we show that we are stronger together. It is precisely this kind of collaboration that is the key to us, so that we on behalf of our members, can continue to push the green transition in the right direction."

"We are very pleased with the trust PKA and PenSam show the AIP team with the new and increased commitments to this fund. At the same time, we are proud to be able to attract such a significant partner as Storebrand to the AIP platform as a co-investor and co-owner. We look forward to continuing to execute on the successful investment strategy and deliver attractive risk-adjusted returns to current and future investors”, says Kasper Hansen, Managing Partner at AIP.

Historisk avkastning er ingen garanti for fremtidig avkastning. Fremtidig avkastning vil blant annet avhenge av markedsutviklingen, forvalterens dyktighet, fondets risikoprofil og forvaltningshonorar. Avkastningen kan bli negativ som følge av kurstap. Det kan være risiko knyttet til investeringer i fondet på grunn av markedsbevegelser, utvikling i valuta, rentenivåer, konjunkturer, bransje- og selskapsspesifikke forhold. Før investering anbefales kunder å sette seg inn i fondets nøkkelinformasjon og prospekt som inneholder nærmere informasjon om fondets egenskaper og kostnader.