Fundraise for Eurazeo’s debut infrastructure programme exceeds target

Eurazeo has closed fundraising for its debut infrastructure programme, exceeding its €500m target by 40%.  

The investment group said it had raised €706m for the Eurazeo Transition Infrastructure Fund (ETIF) and a co-investment vehicle after receiving capital commitments from institutional investors across North America, EMEA and France.  

As previously reported, the European Investment Fund was among the investors to participate in the fund’s first close. ETIF’s investors also include large consultants, asset managers, banks, pension funds, insurance companies, sovereign and funds of funds.

Last year, ETIF invested in European data centre company Etix Everywhere. The fund’s portfolio also includes: Ikaros Solar, a Belgian rooftop solar developer; Resource, a joint venture to develop a plastic waste sorting plant in Denmark; Electra, an electric vehicle charging point operator with headquarters in France; and materials and energy recovery specialist 2BSI.

Laurent Chatelin, partner and head of infrastructure at Eurazeo, said: “We are grateful for the support of our rapidly expanding investor base who confirmed their confidence in our ability to deliver attractive risk-adjusted return.

“We are thrilled by the pace and quality of our investments, with 60% of ETIF deployed to date and the fund already out of the J-curve. This highlights the strength and differentiation of ETIF’s proven sustainability framework and diversified investment strategy across the energy, digital, clean transport and environmental sectors.” 

In a joint statement, Christophe Bavière and William Kadouch-Chassaing, co-CEOs at Eurazeo, said the closing of the maiden transition infrastructure programme illustrates the “attractiveness of the Eurazeo brand and the relevance of its strategy” for its investor clients.

“This fund and its investments in six portfolio companies are an emblematic illustration of our mission to build European champions by focusing on the mid-market, growth and impact segments.

“Our diversified offering, through investment strategies delivering financial performance with significant growth potential, is fully recognised by investors,” the co-CEOs said.

To read the latest IPE Real Assets magazine click here.