Dealflow | July 22, 2021

Aflac and Denham Capital form $2.1 billion sustainable infrastructure partnership

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, July 22 —Boston-based Denham has built a 15-year track record investing in global renewable energy and sustainable infrastructure.

The partnership with Aflac Global Investments, the $129 billion asset management arm of U.S. insurance company Aflac, will help Denham expand its sustainable infrastructure business.

The $2 billion commitment from Aflac will provide senior debt for sustainable infrastructure projects; $100 million will go to Dunham’s second equity fund for sustainable infrastructure assets. Aflac will also acquire a non-controlling 24.9% equity interest in Denham’s sustainable infrastructure business. 

Feeding demand

Aflac was attracted by Denham’s focus on sustainable infrastructure. “It is our hope we are creating an outlet for more capital to help feed this demand,” Aflac’s Jon Sullivan told ImpactAlpha.

An estimated $6.9 trillion per year will be required through 2030 for global sustainable infrastructure (see, “Generate raises $2 billion amid sustainable infrastructure push).