With the first close of the Fund, Eurazeo strengthens its commitment to climate change mitigation and decarbonization across the transition infrastructure asset class.
As the world transitions towards a more sustainable and resilient low carbon future, the objective of the Fund is to invest in transition infrastructure, including the energy transition, the digital transition, clean transport, and circular economy. The fund is classified as an Article 9 fund under the European Sustainable Finance Disclosure Regulation (SFDR).
The European Investment Fund has made a cornerstone investment of €75 million, using resources from the European Investment Bank and InvestEU, which helps generate additional funding in key European priorities such as the green transition. In addition to Eurazeo’s commitment of €100m, several institutional investors have made commitments to the Fund.
ETIF has already allocated substantial capital to a portfolio of three sustainable infrastructure companies.
The Fund has been seeded with 3 investments. These 3 portfolio companies, headquartered in 3 different European countries, operate in 3 different sub-sectors: Ikaros Solar (Belgian rooftop solar developer), Resource (joint venture to develop a plastic waste sorting plant in Denmark) and Electra (French headquartered electric vehicle charging point operator).
Paolo Gentiloni, European Commissioner for Economy:
“Developing the transition infrastructure needed to decarbonise our economies will require significant and sustained investment. InvestEU is an innovative and powerful tool that is helping to harness this investment. I am delighted that, with this agreement, InvestEU is channelling the finance needed to accelerate the deployment of a new green economy.”
Alain Godard, managing director, European Investment Fund:
“Contributing to the EU’s green transition is a priority for the EIF. We are therefore very glad to be doing our part and investing in a fund that will make real, tangible and meaningful steps in the direction of meeting the EU’s climate targets. Investing in climate funds is a key priority for EIF, and with the support of the new InvestEU programme, we are further strengthening our contribution to the EIB Group climate action agenda.”
Laurent Chatelin, Partner and Elise Dupuy Vaudour, Chief Operating Officer – Eurazeo – Infrastructure:
“Climate change is pushing global warming to an unprecedented high; primarily because of carbon emissions from human activity. By taking a holistic approach across the transition infrastructure space, the Eurazeo Transition Infrastructure Fund will accelerate the deployment of capital to support the continued decarbonization of our societies, helping Europe achieve energy sovereignty and a sustainable future. We would like to thank the EIF for their trust and renewed confidence in Eurazeo’s teams, as well as our other investors who have committed to invest sustainably through ETIF. With them, we believe we are well positioned to deliver on ETIF’s ambition.”
Eurazeo is a leading global investment company, with a diversified portfolio of €32.4 billion in assets under management, including nearly €23.2 billion from third parties, invested in 530 companies. With its considerable private equity, private debt as well as real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 400 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
ABOUT THE EIF
The European Investment Fund is part of the European Investment Bank group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.