Empira: New joint venture with Die Bayrische

Munich-based insurer Die Bayrische and Zug-based Empira AG have founded Pangea Live Capital Partners, a new global investment manager. The joint venture partners have announced that they are combining the expertise of both companies "in the areas of sustainable real assets, real estate and (institutional) investments". Michael Haupt, who brings 30 years of experience in the management of financial and real estate companies to the joint venture, has been appointed CEO of Pangea Live Capital Partners.

With Pangaea Life Capital Partners, Empira and Bayerische intend to internationalize the distribution of Pangea Life funds, initially in the DACH region; further European countries and markets outside Europe are to follow in the future. Pangaea Life, founded in 2017 as a sustainable brand of the insurance group, comprises two funds that invest in specific tangible assets in the areas of renewable energy (Blue Energy) and sustainable residential real estate (Blue Living). The Blue Energy fund currently has a fund volume of around EUR 545 million and has reportedly achieved an average annual return of 9.7% after fund costs since its launch; the annual return of Blue Living (volume: around EUR 114 million) has averaged 7.5% after costs since the fund was launched (as at March 31, 2023).

Previously, it was only possible to invest in the funds via insurance products within Germany. Pangea Live Capital Partners is now opening up the Pangaea Life funds to investors outside the insurance sector and is pursuing "ambitious growth plans", according to the joint venture partners. The planned Pangaea Life Blue One Universe fund will initially comprise the two funds Pangaea Life Blue One Energy and Pangaea Life Blue One Living. There are also plans to expand the portfolio of thematic funds to include other future sectors of sustainable change. (bw)