Norwegian financial services company Storebrand has announced a deal to raise its ownership in AIP Management P/S, a Danish infrastructure fund manager specializing in renewable energy assets.
Under the agreement, Storebrand will acquire an additional 50% stake in AIP Management for DKK 215 million (USD 30.8 million / EUR 28.8 million), increasing its ownership to 60%. Current shareholders, including Danish pension funds PKA and PenSam, along with AIP's partners, will retain their investments.
Founded by PKA in Copenhagen, AIP manages EUR 8 billion (USD 8.55 billion) in committed capital and has invested over EUR 7 billion in energy transition projects. The portfolio, once fully operational, is expected to generate clean electricity sufficient for approximately 5.9 million homes.
Storebrand Asset Management AS initially acquired a 10% stake in AIP in 2020. The transaction is pending regulatory approvals and is slated to close in the second half of 2024. Following the completion, AIP will continue to operate independently under its current brand and leadership, as part of Storebrand Asset Management's multi-boutique offering.
