French green investment specialist Mirova is in talks to take a majority stake in a small London firm that invests in improvements to agricultural land, amid plans to raise a €1bn fund under the auspices of the United Nations to combat desertification.

Mirova, which manages nearly €7bn in green equity, bond, impact and infrastructure funds and is part of Natixis Global Asset Management, is in exclusive talks to take a stake in Althelia Ecosphere, a €100m fund manager financing sustainable land use, primarily in the developing world, according to a statement from the two companies on June 29.