Mirova, a unit of Natixis Global Asset Management dedicated to responsible investing, has closed the acquisition of a 51% equity ownership stake in Luxembourg-based impact investment manager Althelia Ecosphere.
Currently, Althelia’s founding partners Sylvain Goupille and Christian Del Valle own the remaining 49% stake in the firm. In the next five years, Mirova’s capital participation will increase through a withdrawal mechanism of the founding partners’ share.
Althelia, which has now been rebranded as Mirova-Althelia, will allocate over €1bn to natural capital investing over the next five years.
The natural capital investing platform will operate from London and Paris and include 12 investment professionals. The platform will be managed by Goupille and Valle.
The new entity will address environmental issues including climate change, protection of landscapes, biodiversity, soil and marine resources. Its assets include the €100m Althelia Climate Fund I that invests in carbon emission reduction projects. Work is also under way on the development of three other strategies.
Mirova-Althelia, which will be integrated in six months, will distribute its products through the Natixis Global Asset Management network. The acquisition was first announced in June 2017.