Eiffel Investment reaches €1.2bn hard cap for Energy Transition III

Eiffel Investment has exceeded its initial target of €1bn for its third European infrastructure fund, reaching a hard cap of €1.2bn.

Eiffel Energy Transition III, which finances energy transition assets, plans to invest approximately €3bn over its eight-year lifespan, the asset manager stated.

Eiffel launched its third European energy-transition infrastructure debt fund in May last year and secured half of its €1bn fundraising target in its first closing.

The asset manager said the third vintage of Eiffel’s energy transition infrastructure debt strategy, attracted strong investor interest, bringing together more than 30 French and international institutional investors “committed to supporting European energy sovereignty and competitiveness”.

Nearly half of the funds raised come from reinvestments by subscribers already involved in the first two vintages of the Eiffel Energy Transition programme, “reflecting their loyalty and renewed trust in the programme, as well as its strong results”, Eiffel said.

Eiffel Energy Transition III continues the strategy of the asset manager’s preceeding funds by providing flexible short-term debt to green energy assets.

Fabrice Dumonteil, chairman of Eiffel Investment Group, said: “This success confirms the relevance of our offering in response to the unprecedented financing needs for green energy infrastructure in Europe. Eiffel is a key partner for renewable energy developers. Through the Eiffel Energy Transition III fund, our major investors are making a decisive contribution to financing European energy sovereignty and competitiveness.” 

Since its launch in 2017, the Eiffel energy transition programme has provided institutional investors with “efficient exposure” to the energy transition with “regular returns, short duration and a controlled risk structure thanks to collateral on the assets financed”, Eiffel added.

Through its successive Eiffel Energy Transition funds, Eiffel has already supported more than 100 developers in Europe in their growth projects and backed more than 5,000 green-energy production assets.

Pierre-Antoine Machelon, head of infrastructure at Eiffel Investment Group, said: “Our investment capacity is keeping pace with the rapid increase in financing needs in the green energy sector in Europe. It is growing alongside the developers with whom we have established long-standing, trusted relationships. This enables Eiffel today to support larger-scale projects, higher-impact projects.”

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