Friday, July 22, 2016

Quercus and Swiss Life Asset Managers announce the acquisition of two photovoltaic (PV) plants in Italy with a combined capacity of c. 7.3MW

London, Luxembourg: 22 July 2016: Quercus Assets Selection and Swiss Life Asset Managers announce the successful acquisition of two ground-mounted solar PV plants with a capacity of 6.5MW and 0.77MW respectively, located in the Molise Region, Italy.

The transaction was carried out and completed by Azienda Solare Italiana S.p.A (“ASI”), formerly known as Antin Solar Investments, which Quercus and Swiss Life Asset Managers acquired in April 2016 through a 50/50 joint venture. With these additions, ASI’s portfolio consists of eleven plants totalling 84.4 MW and a combined annual production of 140 GWh.
Umberto Tamburrino, CEO of ASI, comments: “As promised at closing of the acquisition by Quercus and Swiss Life Asset Managers, we continue to build our track record for acquiring top-quality PV plants. This latest transaction is a statement of intent that evidences our goal to become one of the leading consolidators within the fragmented Italian market.”
Diego Biasi, CEO and co-founder of Quercus, explains: “This acquisition proves our commitment and ability to execute our investment strategy through deals of varying magnitudes within an Italian market that continues to offer significant opportunities.”
Constantin Dogos, Board Member of ASI and Director in the infrastructure investments team of Swiss Life Asset Managers, comments: “With this add-on acquisition we are consistent with our investment strategy for ASI and we will support similar future opportunities.”
ASI was advised by Hogan Lovells on legal matters, by EOS on technical matters and by Deloitte on tax matters. The Vendor’s legal advisor was Gattai, Minoli, Agostinelli, Partners.

About Quercus
Quercus Assets Selection Sarl is the general partner of the SICAV-SIF Quercus Assets Selection SCA which is regulated by the CSSF in Luxembourg. The objective of Quercus Assets Selection is to create a balanced portfolio of assets, diversified both technologically and geographically, which seek to protect against inflation and provide a low correlation with traditional financial markets and deliver stable and predictable cash flows over a long investment period. The Quercus team has significant experience in energy infrastructure, traditional and alternative investments. Quercus also has a well-developed network of highly-regarded external partners, enabling Quercus to benefit from breadth of expertise difficult to find in a single organisation
About Swiss Life Asset Managers
Swiss Life Asset Managers has more than 150 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany and Luxembourg.
As at 31 December 2015 assets under management for third-party clients amount to EUR 35.7 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at EUR 170.5 billion.
Swiss Life Asset Managers is the leading real estate manager in Europe. Of the assets totalling EUR 170.5 billion, EUR 35.8 billion is invested in real estate. In addition, Swiss Life Asset Managers has real estate under administration of EUR 26.4 billion through its subsidiaries Livit and Corpus Sireo. Total real estate under management and administration at the end of December 2015 thus came to EUR 62.2 billion.
Swiss Life Asset Managers employs about 1400 people in Europe.

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