Key Takeaways
- • MAPFRE, through its asset manager MAPFRE AM, launched MAPFRE PRIVATE DEBT, FIL, a private debt fund with a commitment capacity of up to 350 million euros.
- • The fund will consolidate the insurance group's subsidiaries' existing private debt investments and add new allocations.
- • The target is exposure to roughly 15 large fund managers, mainly in European, euro-denominated investments.
- • MAPFRE has committed 1.35 billion euros to alternative assets since entering the space through funds in 2018, spanning real estate, infrastructure, private equity, private debt and renewables.
- • ESG criteria will be prioritized in manager selection, with due diligence weighing fund size, team experience, tenure and track record.
Summary
MAPFRE, through its asset management arm MAPFRE AM, has launched MAPFRE PRIVATE DEBT, FIL, a private debt fund that will bring together all private debt investments already made by the insurance group's subsidiaries, alongside new investments, up to a total of 350 million euros, according to the company's announcement.
The fund's stated objective is to gain exposure to around 15 large fund managers, with a focus on European and euro-denominated investments. Álvaro Anguita, CEO of MAPFRE AM, said the commitment diversifies the group's portfolio within its alternative investment range "without compromising at all on our conservative nature," adding that it should also provide somewhat higher profitability.
The management team will conduct exhaustive due diligence on target funds, assessing fund size, the experience and tenure of the management team, and the track record of prior investments. Consistent with other MAPFRE investments, priority will be given to ESG criteria. Javier Lendines, General Manager of MAPFRE AM, noted that ESG policies are being implemented more quickly in illiquid markets than in liquid ones, and that they are visible in fund covenants and in the financing spreads borrowers pay.
MAPFRE entered alternative assets through funds in 2018. Since then it has committed 1.35 billion euros across real estate, infrastructure, private equity, private debt and renewable energy funds, always working with what it describes as leading international partners.
The fund's stated objective is to gain exposure to around 15 large fund managers, with a focus on European and euro-denominated investments. Álvaro Anguita, CEO of MAPFRE AM, said the commitment diversifies the group's portfolio within its alternative investment range "without compromising at all on our conservative nature," adding that it should also provide somewhat higher profitability.
The management team will conduct exhaustive due diligence on target funds, assessing fund size, the experience and tenure of the management team, and the track record of prior investments. Consistent with other MAPFRE investments, priority will be given to ESG criteria. Javier Lendines, General Manager of MAPFRE AM, noted that ESG policies are being implemented more quickly in illiquid markets than in liquid ones, and that they are visible in fund covenants and in the financing spreads borrowers pay.
MAPFRE entered alternative assets through funds in 2018. Since then it has committed 1.35 billion euros across real estate, infrastructure, private equity, private debt and renewable energy funds, always working with what it describes as leading international partners.
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