BlackRock Real Assets (“BlackRock”) has reached an agreement
with the Consortium of Samsung Securities (“Samsung”) as the
financial investor, Samchully Asset Management (“Samchully AMC”) as
the asset manager with Schroder AIDA (“Schroders”) as the asset
management advisor, on the sale of a portfolio of 14 operating
solar projects (the “Portfolio”) across France. This marks the
first realization for BlackRock’s Renewable Power platform and
offers Samsung, Samchully AMC and Schroders an attractive foothold
into the European renewables power market.
The Portfolio achieved commercial operations between 2013 and
2015, and has demonstrated a robust track record with consistent
production. The Portfolio was optimized by BlackRock through
aggregating individual projects, bringing them through construction
and completing a refinancing of the project level debt facilities.
The de-risked Portfolio provides Samsung, Samchully AMC and
Schroders with long-term income from a high-quality core
infrastructure asset.
Rory O’Connor, Head of Europe for BlackRock Renewable Power,
commented, “We are delighted to partner with Samsung, Samchully AMC
and Schroders on this renewable power transaction. This portfolio
is testament to BlackRock’s strong investment, partnering and
technical capability in renewable power. We are very pleased with
this sale and the realisation of value from this portfolio for our
clients, and we will continue the strategy of selected realizations
over time.”
Jae Kyun Lee, CEO and Representative Director of Samchully AMC,
said, “It is a remarkable achievement for Samchully AMC and the
Korean financial investors to enter France’s renewable market for
the very first time. After 10 years of overseas investment in
energy, power and utilities – mainly in North America, we are
excited to add this solar photovoltaic transaction to our
portfolio. We look forward to the synergies with our partners
BlackRock, RBC Capital Markets, Samsung Securities, and Schroders
AIDA. We also hope to identify and explore future opportunities
with BlackRock in the renewables sector.”
RBC Capital Markets and Linklaters LLP are the financial and
legal advisors for this transaction for BlackRock.
About BlackRock
BlackRock helps investors build better financial
futures. As a fiduciary to our clients, we provide the
investment and technology solutions they need when planning for
their most important goals. As of September 30, 2018, the firm
managed approximately $6.44 trillion in assets on behalf of
investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com |
Twitter: @blackrock |
Blog: www.blackrockblog.com |
LinkedIn: www.linkedin.com/company/blackrock.
About BlackRock Real Assets
In today’s dynamic and complex global investing market, we help
our clients access real assets that could help meet their
investment goals by providing a distinct range of well defined,
outcome orientated strategies, along the investment risk - return
spectrum.
Our dedicated teams of industry and sector specialists deliver
global reach, with deep local expertise. They have decades of
relevant experience, are deeply embedded in their operating
industries by sector and geography, and have developed strong
partnership networks over time.
BlackRock’s culture of risk management, knowledge sharing and
investment discipline sets us apart and underpins all that we do.
With over 380+ professionals in 27 offices managing over US$47bn in
client commitments as of 30 September 2018, BlackRock Real Assets
partners with clients to provide solutions tailored to individual
portfolio needs such as income, growth, liquid or balanced real
assets outcomes.
About Samsung Securities
Samsung Securities Co., Ltd. (“Samsung Securities”) is the
investment banking arm of Samsung Group.
Since its founding in 1982, Samsung Securities has been a
leading securities house in Korea. Samsung Securities provides a
wide range of financial services including brokerage, wealth
management, corporate finance and in-depth financial solutions to
both individual and institutional investors based on differentiated
capabilities.
The investment banking division of Samsung Securities has
accumulated a proven track record of underwriting approximately USD
4bn in equity and debt of real assets, such as aviation, shipping,
infrastructure and real estate, in domestic and international
markets over the last three years.
About Samchully AMC
Established in 2008 as a joint venture with Macquarie Funds
Group, Samchully AMC is a Korean financial investor that
specializes in overseas energy infrastructure and power with
investments across the North American region. Samchully AMC’s
parent company is Samchully Co., the largest gas distributor in
Korea with vast pipeline networks and services over 3.3 million
households and industry customers.
Samchully AMC’s senior leadership and investment professionals
have extensive expertise in the energy sector, which allows us to
target investment opportunities with long-term revenue streams and
real capital growth throughout the energy infrastructure value
chain.
We have offices in both Seoul and Houston for deal sourcing,
execution, and asset management, which gives us access to
attractive investment opportunities as well as insights into
various deals and markets. Over the last ten years, Samchully AMC
has built a robust track record of numerous midstream transactions,
upstream transactions, power generations, and renewables amounting
to an AUM of $1.3 billion.
About Schroders
Established in 1804, Schroders benefits from a stable ownership
structure and a strong balance sheet. Our focus is on pure asset
management and our overriding objective is to maximise returns for
our clients and invest in a responsible way. With €508.2bn assets
under management and administration, we offer a diverse range of
asset classes across equities, fixed income, multi-asset, private
assets and alternatives to our institutional, intermediary and
wealth management clients around the world.
Schroder Aida is an affiliate of Schroders, registered as
société par actions simplifiée authorized and regulated in France
by the Autorité des Marchés Financiers (AMF) as an asset management
company (Société de Gestion de Portefeuille) under the number
GP-17000027. It experienced a very strong growth for the last 3
years. The team of 14 professionals based in Paris and London
raised nearly €2.2 billion of capital for debt and equity
investments in European infrastructure assets from institutional
investors.
This material is for distribution to Professional Clients (as
defined by the FCA Rules) and Qualified Investors only and should
not be relied upon by any other persons.
Issued by BlackRock Investment Management (UK) Limited,
authorised and regulated by the Financial Conduct Authority.
Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:
020 7743 3000. Registered in England No. 2020394. For your
protection telephone calls are usually recorded. BlackRock is a
trading name of BlackRock Investment Management (UK) Limited.
Any research in this document has been procured and may have
been acted on by BlackRock for its own purpose. The results of such
research are being made available only incidentally. The views
expressed do not constitute investment or any other advice and are
subject to change. They do not necessarily reflect the views of any
company in the BlackRock Group or any part thereof and no
assurances are made as to their accuracy.
In Hong Kong, this material is issued by BlackRock Asset
Management North Asia Limited and has not been reviewed by the
Securities and Futures Commission of Hong Kong. This material is
for distribution to "Professional Investors" (as defined in the
Securities and Futures Ordinance (Cap.571 of the laws of Hong Kong)
and any rules made under that ordinance.) and should not be relied
upon by any other persons or redistributed to retail clients in
Hong Kong.
This document is for information purposes only and does not
constitute an offer or invitation to anyone to invest in any
BlackRock funds and has not been prepared in connection with any
such offer.
© 2018 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK
SOLUTIONS, iSHARES, BUILD ON BLACKROCK, SO WHAT DO I DO WITH MY
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version on businesswire.com: https://www.businesswire.com/news/home/20181204005719/en/
MediaBlackRock Real AssetsLondonRoland Leithaeuser
+44 207 743 2544 roland.leithaeuser@blackrock.comGeeta Kana +44 207
743 4361 geeta.kana@blackrock.com
Samsung SecuritiesSeoulSye-Won Eom
sewon.uhm@samsung.comJong Hwa Dong jh1.dong@samsung.com
Samchully AMCSeoulJae Kyun (Jae), Lee, Office:
+82-2-368-3227, jae.lee@sig-fund.comWon Jong (Justin), Choi,
Office: +82-2-368-3354, justin.choi@sig-fund.com
SchrodersNathaële Rebondy + 33 1 5385 8517
nathaele.rebondy@schroders.comGaétan Pierret + 33 6 3075 4407
gaetan@steeleandholt.comClaire Guermond + 33 6 3192 2282
claire@steeleandholt.com
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