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POELLATH advises Allianz Global Investors on launch of and fundraising for Emerging Market Climate Action Fund

Allianz Global Investors (“AllianzGI”) (Martin Ewald and Peter Ellersiek as well as Senior Counsel Sebastian Schwack), one of the world’s leading active asset managers, has launched the Emerging Market Climate Action Fund (“EMCAF”) with a target volume of EUR 500 million in a public-private partnership with, among others, the European Investment Bank (“EIB”).

The anchor investors are the governments of Germany and Luxembourg, the Nordic Development Fund, Allianz, the Swedish insurer Folksam and EIB.

EMCAF is organized as a closed-end alternative investment fund (AIF) in the legal form of a Luxembourg limited partnership (SCSp SICAV-RAIF) and is a so-called “Art. 9 Fund” in terms of the Sustainable Finance Disclosure Regulation (SFDR).

EMCAF is a fund of funds that supports climate-related investment funds and projects in emerging markets and developing countries. The focus is on climate protection, adaptation to climate change and access to electricity. The fund invests in specialized investment funds that support projects such as onshore wind farms, photovoltaic plants and small and medium-sized hydropower plants, as well as energy efficiency projects in housing/industry or projects that confer environmental or resource efficiency benefits. EMCAF investments are expected to significantly support clean energy capacity expansion on a global level.

POELLATH provided comprehensive advice to AllianzGI’s Impact Investments team as lead counsel on all contractual, tax and regulatory aspects of the fund structuring, contractual documentation and investor negotiations with the following Frankfurt-based private funds team:

The Luxembourg law firm Elvinger Hoss Prussen provided support on specific matters of Luxembourg law.

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