The Netherlands – The European Bank for Reconstruction and Development (EBRD) and ILX Management (ILX) have formed a partnership to raise €500 million in capital from European pension funds. The funds will be used to help the EBRD’s regions make the transition to more sustainable, low-carbon economies.
Investors such as APG Asset Management, a European pension fund, will be represented by ILX. The European Bank for Reconstruction and Development (EBRD) and ILX, an asset manager based in Amsterdam, are launching an Institutional Co-Investment Program. Over the next five years, it aims to raise €500 million to support the EBRD’s goal of doubling private co-financing by 2025, with an emphasis on climate action.
Investments in key economic sectors
With the EBRD’s proven track record of successful investments in key economic sectors across central Europe, Central Asia, the Western Balkans, and the southern and eastern Mediterranean, the program offers investors the chance to reap the benefits of that history. All investments are linked to climate change and the Sustainable Development Goals (SDGs) and offer attractive risk-adjusted returns while also protecting the environment, society, and governance (ESG).
The EBRD gains two important advantages from this Institutional Co-Investment Program: a new and reliable source of funding for its B loans, as well as increased engagement with institutional investors who share a long-term vision and a set of impact goals for each of the underlying initiatives.
Dutch pension provider APG Asset Management recently invested US$ 750 million in ILX Fund I, making it a cornerstone investor. ILX plans to raise $1 billion for ILX Fund I following APG’s first-close commitment.