The European Investment Fund (EIF) has participated in a €210m fundraising for a transition infrastructure investment fund managed by Eurazeo.
EIF has made a €75m cornerstone investment in the Eurazeo Transition Infrastructure Fund’s first close which was backed by Eurazeo with a €100m commitment, as well as capital from other institutional investors, Eurazeo said.
EIF’s contribution was made via the European Investment Bank and InvestEU, the European Union’s investment programme.
The Eurazeo Transition Infrastructure Fund – which has been seeded with three portfolio companies – expects to invest in transition infrastructure, including the energy transition, the digital transition, clean transport, and the circular economy.
The fund’s portfolio includes Ikaros Solar, a Belgian rooftop solar developer; Resource, a joint venture to develop a plastic waste sorting plant in Denmark; and Electra, a French headquartered electric vehicle charging point operator.
Alain Godard, managing director of the European Investment Fund, said: “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, the European commissioner for economy, said: “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, COO at Eurazeo in charge of infrastructure, said: “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 decarbonisation of our societies, helping Europe achieve energy sovereignty and a sustainable future.”
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