CDP Real Asset: third investment in the sustainable infrastructure sector defined

Summary

Infrastructure FoF subscribes units for 37.5 million euro in Equiter Infrastructure II, fund managed by Ersel Asset Management and Equiter

Third investment by CDP Real Asset SGR aimed at the development of Italian infrastructure projects that focus on innovation and impact: through the Infrastructure FoF, fund of funds managed by the real estate company of the CDP Group, a commitment of 37.5 million euro was made in the “Equiter Infrastructure II” fund.

Managed by Ersel Asset Management SGR with Equiter as exclusive advisor, the Equiter Infrastructure II fund specifically focuses on the energy and digital transition, in particular with reference to the renewable energy sectors (wind and photovoltaic), energy efficiency, circular economy and digitisation (fibre optic networks and data centers). The fund also invests in health infrastructure, transport network services and university campuses. The predominant strategic focus is on greenfield projects, i.e. newly constructed infrastructure, as well as some exposure in brownfield projects, which involve improvement and/or development works.

Equiter Infrastructure II has already invested in six projects, for a total commitment of approximately half of the fund’s assets. Thanks to the new resources provided by CDP Real Asset SGR – added to those of leading Italian institutional investors – total funding of Equiter Infrastructure II exceeds 300 million euro, supporting the implementation of the fund’s investment strategy, which includes a significant pipeline of further projects in the advanced analysis phase.

The investment in Equiter Infrastructure II is the third transaction by CDP Real Asset through the Infrastructure FoF, following entry into the Sustainable Securities Fund, managed by Alternative Capital Partners SGR and the Equita Green Impact Fund, managed by Equita Capital SGR, funds supporting the energy transition in Italy. Further interventions by the CDP Group’s real estate company are envisaged during the year, also thanks to the support of CDP Equity in its role as cornerstone investor and advisor.

“This investment, the third of the Infrastructure FoF, confirms the tangible commitment of the CDP Group in favour of development of sustainable infrastructure, a fundamental part of our Country’s resilience and growth over the medium term” – says Giancarlo Scotti, CEO of CDP Real Asset and Real Estate Director of CDP – “Our goal is to contribute to mitigating Italy’s infrastructural gap with respect to the major European countries, supporting the development of asset managers active in infrastructure and catalysing the resources of institutional investors towards the real economy, to maximise the multiplier effect and the impact of our intervention”.

“The investment in Equiter Infrastructure II is in line with the objectives and strategic priorities of our Fund, providing the initiative with substantial resources for the pursuit and further development of investment activities, with a focus on mid-market projects in Italy”, comments Piergiorgio Mandolesi, Head of the Infrastructure FoF. “Attention to the innovation and impact profiles, with the support of dedicated advisors, is an underlying element of the target fund’s investment strategy, in addition to balancing of the late greenfield and brownfield components, the positive trend in capital use and the attractive yield prospects, which complete the initiative’s profile of interest”.