Infrastructure sees divergences between sectors in terms of deal activity and valuation. The high level of dry powder is smoothing deal activity in ‘safe-haven’ sectors such as health, technology or renewables, where a stable number of transactions is happening. Overall, valuations should stay flattish. Buy-and-hold strategies are gaining traction. We believe diversification will be key to deliver stable returns. The Covid-19 crisis should lead to a supportive political and regulatory environment, as the pandemic has emphasised the need for communication and social infrastructures, but also for more renewable energy. Infrastructure projects should be a key component of most governmental stimulus plans.
A new player born from an innovative and ambitious partnership
The first Amundi Energy Transition (AET)'s institutional funds are designed for both French and international tier one and tier two clients that are willing to optimize their illiquidity premium in exchange for superior returns. These funds will invest in tangible assets dedicated to the production of renewable energies and to power efficiency. We aim for long-term investments (25 years), with a strong focus on return and yearly distributions through the holding of assets in order to achieve attractive IRR.
To date, five investments have been made with Dalkia in gas-powered cogeneration (representing more than 150 facilities) that produce electricity and heat for industrial and public clients. The financing of all operations totals over €400 Million and was made possible thanks to the €200 Million from bank financing, half of which was contributed by Credit Agricole Group.
Created in 2016, Amundi Transition Energétique (ATE) is an asset manager that is jointly owned by Amundi and EDF and specialises in financing the energy transition.
ATE's unlisted offer complements Amundi's range of green listed assets, such as low carbon indices.
This partnership allows for an innovative business model: its gives ATE preferential access to EDF’s pipeline of current and future projects, provides for EDF’s management of industrial risks and ensures regulated costs for increased cash flow visibility.
Our long-term investments with a 20 to 25 year buy & hold strategy aim for return (with regular distributions) and target tangibles assets that contribute to the production of renewable energies (wind, solar,..) and to power efficiency (heating networks, cogeneration,…)
Discover our assets
2018 Preqin Global Infrastructure Report
Charter ESG ATE
1. Source: Amundi figures as of December 31, 2020.
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