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.
