October 28, 2019
PRESS RELEASE: October 28th, 2019 London, U.K – Mirova Natural Capital Limited, wholly-owned by responsible investment manager Mirova, an affiliate of Natixis Investment Managers, today announces the first close of the Althelia Biodiversity Fund Brazil (“ABF Brazil”), a new investment fund dedicated to making pioneering impact investments in the Legal Amazon.
Through ABF Brazil, Mirova Natural Capital Limited aims to deploy R$400 (US$100) million of blended finance into sustainable activities that protect, restore or otherwise improve biodiversity and community livelihoods in the Legal Amazon of Brazil[i].
The risks and challenges of working in the Amazon have precluded most impact investors from expanding into the hard-to-reach region, and specifically into sustainably managed agroforestry, farming, buffer-zones of protected areas and biodiversity-friendly initiatives, thus far. Meeting these challenges will require significant new private investment at scale. ABF Brazil aims to overcome these inherent challenges by providing venture and growth finance for transformational businesses that have a positive impact on biodiversity and communities in the Amazon.
ABF Brazil invests in sustainable businesses, cooperatives, NGOs and other entities that have a positive impact on biodiversity and communities in the Amazon, building resilience in forest ecosystems & communities, and harnessing the Amazon forest’s natural capital to generate real assets and create sustainable economic growth and livelihoods.
Returns are expected to be generated from loan repayments, profit sharing arrangements, sale of equity, dividends, carbon or a combination of one or more of these instruments. In addition to seeking to provide investors with market returns from investments in conservation, agriculture, reforestation and innovation in services, finance and technology, the fund’s investments will be required to deliver substantial positive impacts on biodiversity and communities.
ABF Brazil will be officially l
ABF Brazil is the fourth fund launched by the Althelia Funds product line from Mirova, dedicated to scaling natural capital investments.
"We are delighted to announce the first close of the Althelia Biodiversity Fund (ABF) Brazil. Unlocking private finance for new economic models is critical to maintaining the natural resources of Amazon rainforest. There has been a sharp increase in illegal deforestation in 2019 in the Amazon as compared to the previous year. ABF can help to solve this problem by strengthening the autonomy of forest-dependent communities, companies and entrepreneurs, creating opportunities to restore degraded lands and reduce biodiversity threats to standing forest, and replace illegal, unsustainable practices with legal, sustainable alternatives.” said Nick Oakes, ABF Brazil Investment Director.
“This fund aims to demonstrate that private capital can be a source of capital for good management of our environment, leveraging on the benefits of intact ecosystems.” said Sylvain Goupille, Director for Althelia Funds at Mirova.
Target impacts include net positive impact on climate change, ecosystem Integrity, species protection, livelihoods & wellbeing, sustainable enterprises, inclusivity and investment returns to local stakeholders.
The fund benefits from a partnership with the U.S. Agency for International Development (USAID), who helped co-design the fund, convene partners, and mitigated risk through a portfolio guarantee provided by USAID’s Development Credit Authority (DCA), and a partnership with the Center for Tropical Agriculture (CIAT), the fund's cornerstone investor.
Mirova Natural Capital Limited
+44 (0) 203 887 3496
About Mirova Natural Capital Limited
Mirova Natural Capital Limited is an experienced and recognised asset manager with an impact-driven approach to investment, aligning strong financial returns with measurable environmental and social impacts. Further to its acquisition by
Mirova Natural Capital Limited
UK Private limited company
Company registration number: 7740692 – Regulated by FCA
Registered office: 18 St. Swithin’s Lane, London, EC4N 8AD
> Further information: https://althelia.com/
Mirova is an investment manager dedicated to responsible investment. Through a conviction-driven investment approach, Mirova’s goal is to combine value creation over the long term with sustainable development. Mirova’s talents have been pioneers in many areas of sustainable finance. Their ambition is to keep innovating to propose the best tailored and most impactful solutions to their clients.
French limited liability company
RCS Paris n°394 648 216 – Regulated by AMF under n°GP 02-014
Registered Office: 59 Avenue Pierre Mendès France – 75 013 Paris
> Further information: www.mirova.com
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About Natixis Investment Managers
Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of 26 specialized investment managers globally, we apply active thinking to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis ranks among the world’s largest asset management firms[ii].
Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis[iii]. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms and distribution and service groups include Active Index Advisors®;AEW[iv]; AlphaSimplexGroup; Axeltis; Darius Capital Partners; DNCA Investments; Dorval Asset Management[v];Gateway Investment Advisers[vi]; H2O Asset Management; Harris Associates[vii]; Investors Mutual Limited; Loomis, Sayles & Company; Managed Portfolio Advisors®;McDonnell Investment Management[viii]; Mirova; Ossiam[ix]; Ostrum Asset Management; Seeyond; Vaughan Nelson Investment Management[x]; Vega Investment Managers; and Natixis Private Equity Division, which includes SeventurePartners, NaxicapPartners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity; and Eagle Asia Partners[xi]. Not all offerings available in all jurisdictions.
> Further information: im.natixis.com
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Natixis Investment Managers includes all of the investment management and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A.
Note to the editor
The Althelia Biodiversity Fund Brazil is a Brazilian FIP authorized by the Comissão de Valores Mobiliários (CVM). Vox Capital Consultoria e Assessoria Ltda is the administrator of the Fund and is duly authorized by the CVM as an investment fund administrator. Mirova Natural Capital Limited is an investment advisor to ABF Brazil.
This document is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. This document is issued to provide initial, preliminary information about ABF Brazil and is subject to further updating, completion, revision, verification and amendment without notice. This document should not be regarded as an offer to buy or a solicitation of an offer to buy shares in ABF Brazil of any other funds managed or advised by Mirova Natural Capital Limited (the "Funds"). Investment in the Funds managed or advised by Mirova Natural Capital Limited carries significant risk of loss of capital and investors should carefully review the terms of the Funds' offering documents for details of these risks. The prospectuses of the Funds are the only authorised documents for offering of shares of the Funds and may only be distributed in accordance with the laws and regulations of each appropriate jurisdiction in which any potential investor resides. Nothing described herein is intended to imply that an investment in the Funds is "safe", "conservative", "risk free" or "risk averse". This document does not consider the specific investment objective, financial situation or particular needs of any investor and an investment in the Funds is not suitable for all investors. Investors are reminded that past performance should not be seen as an indication of future performance and that they might not get back the amount that they originally invested. The price of shares can go up as well as down and can be affected by changes in the rates of exchange.
The views expressed in this document are the views of Mirova Natural Capital Limited at the time of publication and may change over time. Nothing in this document constitutes investment, legal, tax or other advice, nor is it to be relied upon in making an investment decision. No recommendation is made, positive or otherwise, regarding individual securities mentioned herein.
No guarantee is made as to the accuracy of the information provided herein, which has been obtained from sources believed to be reliable. The information contained in this document is strictly confidential
[i] This is an official designation comprising all nine states in the Amazon basin: Acre, Amapá, Amazonas, Pará, Rondônia, Roraima, Tocantins, part of Mato Grosso and most of Maranhão.
[ii] CerulliQuantitative Update: Global Markets 2017 ranked Natixis Investment Managers (formerly Natixis Global Asset Management) as the 15th largest asset manager in the world based on assets under management as of December 31, 2016.
[iii] Net asset value as of June 30, 2018 is $988.4 billion (€846.5 billion). Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets and other types of non-regulatory AUM.
[iv] A division of Natixis Advisors, L.P.
[v] A brand of DNCA Finance.
[vi] A subsidiary of Ostrum Asset Management.
[vii] A subsidiary of Ostrum Asset Management.
[viii] A division of Natixis Advisors, L.P.
[ix] Operated in the U.S. through Ostrum Asset Management U.S., LLC.
[x] Operated in the U.S. through Ostrum Asset Management U.S., LLC.
[xi] Caspian Private Equity is a joint venture between Natixis Investment Managers, L.P. and Caspian Management Holdings, LLC.