The acquisition increases the company’s ownership of the infrastructure fund manager to 60%.
Full-service Danish law firm Kromann Reumert has guided Norway-based asset management company Storebrand Asset Management AS on its acquisition of 50% additional shares in Danish infrastructure fund manager AIP Management P/S.
The Kromann Reumert advisory team included Copenhagen partner Jacob Høeg Madsen and associate Christian S Petersen, as well as London director Hillary Roberts.
Copenhagen-based AIP was founded by Danish pension fund PKA. It manages investor commitments worth a total of EUR 8 billion, with a focus on energy and infrastructure.
In 2020, Storebrand acquired a 10% share in AIP with a capital commitment to the platform, becoming the company’s first international partner and investor. The additional 50% of shares involved in this latest acquisition will increase Storebrand’s total ownership to 60%. The investment will also boost Storebrands existing infrastructure fund, which currently contains EUR 1 billion in commitments.
Storebrand CEO Jan Erik Saugestad commented: “AIP will expand our investment offer in infrastructure and will strengthen Storebrand Asset Management’s position as an investment partner and leader in sustainable investments. Our customers show a great interest in long-term investments with stable returns and a positive effect for the green transition as infrastructure. AIP has a strong track record, and sustainable investments are the core of AIP’s investment strategy. The partnership with the other Danish pension funds has worked well, and together we are now taking AIP to the next level.”
AIP managing partner Kasper Hansen added: “I am proud of what we have achieved to date and I appreciate PKA’s vision to enter the renewable energy market more than ten years ago. The collaboration with Storebrand has been positive and trusting, rooted in shared values. With Storebrand as new majority owner, we get a fantastic partner who can help realise our potential and accelerate progress towards a CO2-neutral economy by giving even more investors the opportunity / access to invest in the energy transition.”
(Quotes translated from the original Danish by AI.)