General – Acquisition
MEAG is acquiring a minority stake in Fred Olsen Windcarrier on behalf of Munich Re entities as part of a planned investment targeting a 24% shareholding.
The company said the commitment will be built up gradually and will total a triple-digit million-euro sum.
Fred Olsen Windcarrier is described as a global leader in installing, transporting and maintaining offshore wind turbines, operating a fleet of jack-up vessels for turbine component installation.
MEAG said the offshore wind market is set for significant growth over the next five years driven by increasing electricity demand and power sector decarbonisation.
Dominik Damaschke, head of illiquid assets equity at MEAG, said: “The global energy transition is a megatrend and will only succeed if renewable energies can be deployed on a globally significant scale. Fred Olsen Windcarrier stands to benefit from the ongoing expansion of offshore wind and represents a vital link in the value chain. We look forward to a strong long term partnership.”
MEAG is the asset manager of Munich Re with branches in Europe, Asia and North America and manages about €363bn in assets, including €62bn for non-group investors.
