French investment firm Amundi has partnered with energy group EDF to launch a new asset management company aimed at financing energy transition projects.
The joint company aims to raise 1.5bn funds from institutional and retail investors to finance projects focussing on energy transition.
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Under the partnership agreement, EDF and Amundi intend to offer the market two energy-themed investment products.
The partners added that they were trying to develop a new alternative asset class de-correlated from the volatility of traditional investment markets.
They also expect the JV to create an investment fund based on high-yield real estate.
EDF will help steer investments for project development, implementation and operation.
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By GlobalDataThe partnership will focus on renewables including wind power, PV and small-hydro.
Commenting on the agreement, Yves Perrier, CEO at Amundi, said: "This partnership with EDF is part of Amundi’s strategy to design innovating investment solutions for its clients whilst addressing investment challenges faced by corporate."
