Eurazeo announces the first close of its Transition Infrastructure fund to support the transition to a low carbon economy with a commitment from the european investment fund backed by Investeu.
- Eurazeo is delighted to announce that the Eurazeo Transition Infrastructure Fund (ETIF or the Fund) has reached first close with €210million commitments from EIF and a range of institutional investors.
- The European Investment Fund has made a cornerstone investment of €75 million. The agreement is supported by the InvestEU program.
- As of today, the fund has a portfolio of 3 investments in 3 sectors across 3 European countries.
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).
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.”
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.”
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.”
