Carlo Trabattoni, Generali’s CEO Asset & Wealth Management.
Generali Investments today announces the launch of Sosteneo SGR S.p.A. (‘Sosteneo’), a strategic joint venture focused on equity investments in greenfield infrastructure projects related to the energy transition.
Sosteneo is a partnership between Generali Investments Holding and highly experienced executives from the clean energy and funds management industries with decades of expertise in this asset class at a global level: Umberto Tamburrino, Ivor Frischknecht, Chris Twomey, and Chris Deves. Sosteneo expands Generali Investments’ ecosystem of asset management firms, broadening the overall offering in real assets and strengthening its commitment to providing clients with access to ESG-oriented investment capabilities.
The energy transition and growing demand for clean energy require an unprecedented level of global investment in the development and construction of new infrastructure. To achieve net zero objectives, it is anticipated that 4.5 trillion US dollars in annual investment will be needed worldwide every year from 2023 to 2030, with the majority required in Europe and Asia Pacific.
Through its mix of capabilities and innovation, Sosteneo aims to provide clients with access to this market opportunity by driving low-risk equity financing for greenfield infrastructure projects that produce clean energy, such as solar and wind, as well as enable clean energy use, such as battery storage and networks. Sosteneo also intends to collaborate with its network of industrial partners to provide bespoke solutions aimed at lowering emissions and/or improving efficiency for large energy users.
Sosteneo leverages its experienced team and its extensive track record in delivering, optimizing, and monetizing greenfield energy transition infrastructure projects, in a unique combination of innovative capabilities that complements Generali’s expertise, scale, and ambitions. Generali Investments Holding S.p.A holds a majority stake in Sosteneo and the partners hold the remainder.
The company operates primarily in Europe and Asia-Pacific and commences with a team presence in Italy (Milan) and Australia (Sydney). It has a highly qualified Board of Directors that is chaired by Professor Stefano Caselli, Dean of the SDA Bocconi School of Management, and includes distinctive profiles in the international financial landscape.
“Sosteneo makes a perfect addition to our eco-system of asset management firms, where it brings unparalleled expertise in a strategic sector for the global energy transition such as equity investing in infrastructure. With Sosteneo, we are concretely progressing in our commitment to support sustainable growth in Europe and beyond, by financing infrastructure projects essential to accelerate the path towards carbon neutrality and to secure wider availability of clean energy. At the same time, I am proud to be strengthening our offering of investment solutions in real assets with even more ESG-oriented investment capabilities”.Carlo Trabattoni, Generali’s CEO Asset & Wealth Management.
“We are delighted to be partnering with Generali, a worldwide recognized leader in insurance and asset management with almost 200 years of history. Sosteneo’s specialist knowledge in greenfield energy transition infrastructure equity investments, combined with the global reach, expert people, and brand recognition provided by Generali, gives clients the confidence to invest with us and supports our vision of becoming the manager of choice in this space. We are committed to delivering on our objective of providing attractive commercial returns whilst accelerating the transition to a clean energy future.”Umberto Tamburrino, Sosteneo Managing Partner, CEO, and CIO, Europe.