Allianz, BNP Invest in Natixis’ Second Mirova Sustainable Land Fund

Mirova's sophomore sustainable land fund, Mirova Sustainable Land Fund 2 (MSLF2), had its first close with capital commitments from Allianz's French arm, BNP Paribas Cardif and Abeille Assurances, among other investors.

Mirova, the sustainable investing-focused subsidiary of Natixis Investment Managers, said a diverse group of backers, including public, private and philanthropic investors, pledged support for MSLF2, taking the investment vehicle closer to its €350M (~$362M) target, which it aims to hit by the end of 2025.

Swiss nonprofit SDG Impact Finance Initiative was the first junior investor, according to a February 6 news release. Mirova also shared that development finance institutions FMO and Proparco expressed interest in investing in the next close of the fund. Additional commitments are expected to be confirmed within the first half of 2025 from more foundations, government agencies, bilateral development finance institutions, multilateral funds, and private investors.

MSLF2 launched operations in 2024 as a blended finance vehicle that utilizes capital from the public and private sectors to encourage more investments in sustainable land management. The fund aims to support the decarbonization of agricultural and forestry value chains while generating financial returns for investors. It targets opportunities that have a positive impact on climate, biodiversity, water, and social inclusion.