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Partners Group joins KKR’s French wind platform

The Swiss private markets manager has invested in Sorgenia France, a French wind energy joint venture established by KKR and Italian energy company Sorgenia in June.

Partners Group, the Swiss-based global manager focused on private markets, has invested in Sorgenia France, a platform for investment in wind energy assets in France.  No details regarding the size of stake or amount paid were disclosed. 

The investment vehicle was launched in June this year by joint venture partners Kohlberg Kravis Roberts, the US alternative assets giant, and Sorgenia, the Italian energy company, in a deal reported to be worth €236 million which saw the two parties become joint equity partners. It was reported at the time that Partners Group was expected to make a co-investment. 

Sorgenia France has a portfolio of onshore wind projects, comprising 153 megawatts of operational assets and 95 megawatts of assets in an advanced stage of development. 

In a statement announcing its investment, Partners Group says Sorgenia France is one of the few remaining large-scale independent operators and developers in France, with “a geographically diversified wind platform operating in a stable regulatory regime”.  It added that the investment will provide “a stable inflation linked cash yield and also significant upside potential”. 

France has been something of a priority for Partners Group recently. Last week, it announced the launch of a new Paris office headed by Gilbert de la Ferriere. At the time, the firm said it had more than €800 million invested in France including 10 direct investments and “intends to further develop its existing investment activities going forward”. 

Partners Group has over €20 billion in investment programmes under management in private equity, private real estate, private infrastructure and private debt. The firm closed its most recent infrastructure investment vehicle – Partners Group Global Infrastructure 2009 – on a hard cap of €500 million in March this year.