Mirova Core Infrastructure Fund closes a new deal in French parking concessions
Mirova Core Infrastructure Fund (“MCIF”) takes 85% stake in parking concessions which own nearly 4478 off-street and 2030 on-street parking spaces in France.
Mirova, a wholly owned subsidiary of Natixis Asset Management dedicated to responsible investment, is pleased to announce that its EUR 700M fund dedicated to brownfield regulated infrastructures in Continental Europe, MCIF, has completed the purchase of a majority stake in French parking concessions on December 20, 2016. The transaction consists of the acquisition of four parking concessions with local municipalities in Bordeaux, Marseille, Asnières and Versailles, from a mid-size operating company, Urbis Park owned by Foncière des Régions (59.5%) and Predica (40.5%). These car parks are mature brownfield projects with proven track record and a strong market position, especially in Bordeaux city center.
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Investments in Infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. Regulatory Documents of Funds provide the source of information on these Funds. Their investment objectives, strategies and main risks are described in their respective regulatory documents. Their fees, charges and performances are also described in these documents.
Mirova, an asset management company wholly owned by Natixis Asset Management1, brings to bear almost 30 years of experience in Socially Responsible Investing (SRI). Mirova offers a conviction-driven approach in order to combine value creation with sustainable development with a unique and global product offering: listed equities, fixed income, infrastructure, impact investing, voting and engagement. With 63 employees, Mirova has €6 billion in assets under management2.
1 Since 01.01.2014.
2 Source : Natixis Asset Management as at 30 June 2016
A subsidiary of Natixis Asset Management
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