IFM Investors, an investment management services, agreed to acquire a 35% stake in ERG, an independent operator in the production of electricity from renewable sources, from San Quirico, an independent green power producer, for $1.05bn. “IFM is excited to partner with SQ and ERG for our first direct investment in Italy. We consider ERG an outstanding renewables operator with a pioneering approach to the energy transition and strong growth potential on a global scale. This investment reflects our strategy of investing in sustainable infrastructure assets, where the returns generated help boost the retirement savings of millions of pension fund members," Kyle Mangini, IFM Global Head of Infrastructure.