APG Asset Management, on behalf of Dutch pension fund ABP, has signed an initial capital commitment to bioenergy platform BioticNRG.
BioticNRG is a UK-focused bioenergy fund, which invests in operational and developmental businesses across bioeconomy infrastructure, including biofuels.
APG’s commitment, facilitated by Palisade Real Assets, was done on behalf of pension fund ABP, which has €500bn of assets under management and has committed to a net zero portfolio by 2050 or sooner.
Iulia Grosu, APG’s senior portfolio manager infrastructure, said: “Investing in biogas and biomethane offers a promising solution to mitigate climate change, reduce waste, and provide renewable energy solutions.”
Following APG’s commitment, Palisade signed acquisitions with diversified farming business AD Aggregator Platform (ADAP) and anaerobic digestion and composting company Material Change (MCL), expanding the fund’s existing footprint in the organics and bioenergy sector in the UK.
“We have been working with the Palisade Real Assets team to establish BioticNRG and ensure it fits ABP’s goals of investing in the energy transition, while securing attractive returns for its participants. Their subsequent acquisition of ADAP and MCL brings the expertise and commitment which will underpin our long-term vision for sustainability,” Grosu added.
