MEAG has advised Munich Re entities and several third-party managed accounts on their participation in GD Towers’ €2.5bn private placement. The transaction attracted a broad group of European and US investors and represents a significant EUR-denominated private placement in the market. Investors advised by MEAG participated alongside other institutional investors in the financing.

GD Towers owns and operates approximately 44,000 towers, ground-based masts and rooftop sites across Germany and Austria, being the largest tower company in these countries by number of sites. Its business is underpinned by long-term master lease agreements with wholly-owned Deutsche Telekom AG subsidiaries (Telekom Deutschland GmbH in Germany and T-Mobile Austria GmbH in Austria), providing critical passive telecommunication infrastructure to mobile network operators, broadcasters and emergency services.

Thomas Bayerl, Board Member and Global Head of Illiquid Assets at MEAG: “We are proud to support GD Towers in this strategic transaction. For our clients, this combines stable cash flows from long-term lease agreements with assets that contribute to digital inclusion and connectivity across Germany and Austria.”

Isil Tanriverdi Versmissen, Head of Infrastructure Debt at MEAG: “This transaction underscores MEAG investors’ strong interest in supporting high-quality, critical digital infrastructure with strong fundamentals, where they bring increased commitments to support their business expansion and create value for our equity partners DigitalBridge, Brookfield and Deutsche Telekom. Acting as an arranging asset manager in this landmark private placement highlights MEAG’s position as a leading institutional player in European infrastructure debt.”

About GD Towers

GD Towers is a leading European tower company which provides full-service passive infrastructure and acquires, plans, realizes, operates and markets radio sites throughout its wholly-owned subsidiaries DFMG Deutsche Funkturm GmbH in Germany and TOWERS Infra Austria GmbH in Austria. The company is a major contributor to the development of infrastructure for mobile communications providers in Germany and Austria. Its current focus is on LTE and 5G. Since 2023, it has been jointly owned by DigitalBridge, Brookfield Asset Management and Deutsche Telekom AG.

About MEAG

MEAG is the asset manager of Munich Re. With branches in Europe, Asia and North America, it also offers its extensive know-how to institutional investors and private clients from outside the company group. MEAG currently manages assets to the value of around €363bn, €62bn of which for non-Group investors.

For more information, visit www.meag.com.

MEAG is investing on behalf of Munich Re entities in Fred. Olsen Windcarrier, a leading offshore wind installation and service company based in Norway. The investment will be built up gradually, with MEAG targeting a 24% shareholding and a total commitment in the triple digit million euro range.

Fred. Olsen Windcarrier is a global leader in the installation, transport, and maintenance of offshore wind turbines. The offshore wind market is expected to experience significant growth over the next five years, driven by rapidly rising electricity demand and the decarbonisation of the power sector. The company operates a fleet of specialized jack up installation vessels that transport and install key turbine components offshore, making Fred. Olsen Windcarrier a critical enabler of the global energy transition.

Dominik Damaschke, Head of Illiquid Assets Equity at MEAG, said: “The global energy transition is a megatrend and will only succeed if renewable energies can be deployed on a globally significant scale. Fred. Olsen Windcarrier stands to benefit from the ongoing expansion of offshore wind and represents a vital link in the value chain. We look forward to a strong long term partnership.”

MEAG is the asset manager of Munich Re. With branches in Europe, Asia and North America, MEAG also offers its extensive know-how to institutional investors and private clients from outside the company group. MEAG currently manages assets to the value of around €363bn, €62bn of which for non-Group investors.

MEAG acquires a residential complex in Dublin for a special fund. The property, located at 18 Newmarket Square, has a total lettable area of just over 8,200 m2 and is situated in the trendy and lively Dublin 8 district, also known as “The Liberties.” This centrally located district is known for its colorful restaurant scene and attractions such as Kilmainham Goal, the Guinness Storehouse, and the Teeling Distillery.

As in many European cities, the housing market in Dublin is characterized by sustained excess demand, which is unlikely to diminish over time due to the slow and limited expansion of supply. Part of the property is let on a social housing basis due to local regulations, and the ground floor also offers retail space.

Katrin Hupfauer, Head of Real Estate Transactions, MEAG: “The purchase is in line with our strategy of moderately expanding our residential portfolio in European cities with the aim of achieving a well-balanced international portfolio. We consider high-quality residential complexes in central locations in European cities with expected long-term demand to be a valuable long-term investment.”

Joseph Mulrooney, Senior Transaction Manager, MEAG: “The recently completed building impresses with its excellent location in a rapidly developing and sought-after neighborhood. We would like to thank the seller, which is a partnership between a UBS-managed fund, Valpre Capital, and Revelate Capital, for their trust and cooperation.”

Cushman & Wakefield advised on the purchase side, Arcadis provided technical advice, and William Fry provided legal and tax advice. CBRE advised on the sale side.

MEAG is the asset manager of Munich Re. With branches in Europe, Asia and North America, it also offers its extensive know-how to institutional investors and private clients from outside the company group. MEAG currently manages assets to the value of around €363bn, €62bn of which for non-Group investors.

For more information, visit www.meag.com.

MEAG has provided financing on behalf of Munich Re entities and third party investors totalling approximately €110m to ILOS for a cluster of solar PV parks in County Tipperary, Ireland. The portfolio includes Sheehy (61.8 MWp), Erkina (27.9 MWp), and Monaincha (132.0 MWp), with a combined capacity of 222 MWp.

The Notes for the financing have received an investment grade rating and will be issued in full once the portfolio reaches Commercial Operation Date. MUFG acted as Bridge Facility Lender, TLT as legal advisor to ILOS and DLA Piper as legal advisor to MUFG, MEAG and the Noteholders.

The Republic of Ireland’s Climate Action Plan (NICAP) and the Irish Climate Change Act set out the ambitious targets to reduce the public sector greenhouse gas emissions by 51% compared to 2018 levels and achieve a share of 80% renewable energy in relation to the total electricity generation by 2030. This transaction marks a significant contribution in the development of Ireland's renewable energy sector. For the first 15 years of the financing, the portfolio revenues will be supported by a tariff under Ireland’s RESS 2 scheme.

Isil Tanriverdi Versmissen, Head of Infrastructure Debt Transactions at MEAG: “This transaction underlines our commitment to financing environmentally sustainable infrastructure projects that advance the energy transition. Supporting ILOS in their ambition to become a pioneering Independent Power Producer in the renewables industry aligns perfectly with our strategy of delivering long-term value for our investors while contributing to the EU’s decarbonization goals.”

Benjamin Hemming, MEAG Head of Illiquid Assets Debt at MEAG: “I am very proud of our team for the dedication and collaboration they brought to this transaction. Delivering a tailored financing of this complexity is the result of sustained hard work, deep sector knowledge, and seamless collaboration across all functions. This milestone not only reflects the strength of our platform, but also marks an important step in establishing our position in the Irish renewable energy market. We look forward to supporting further high‑quality projects that contribute to the country’s energy transition.”

Nikolaus Krane, Managing Director and Co-Founder of ILOS  “We are delighted to partner with MEAG on this transaction. Their support enables us to bring forward a high-quality utility scale solar project that will provide renewable energy to Ireland for decades to come.”

About ILOS

ILOS is committed to becoming a leading Independent Power Producer (IPP) in the photovoltaic sector. With the support of BNP Paribas Asset Management Alts, which has acquired a 60% majority stake in ILOS and has become the company’s strategic partner and majority shareholder, ILOS builds on its extensive expertise and track record to develop, construct, and operate renewable energy projects across seven European jurisdictions, actively contributing to the transition towards sustainable energy systems.

The company is currently constructing approximately 440 MW of solar projects in Ireland.

About MEAG

MEAG is the asset manager of Munich Re. With branches in Europe, Asia and North America, MEAG also offers its extensive know-how to institutional investors and private clients from outside the Munich Re group. MEAG currently manages assets to the value of around €363bn, €62bn of which for non-Group investors.