- Raised €706 million, surpassing the €500 million target by 40%
- Secured commitments from top institutional investors, including the European Investment Fund
- Invested in 6 transition infrastructure companies, aiming for carbon net neutrality by 2040
Eurazeo’s first infrastructure program, including the Eurazeo Transition Infrastructure Fund (ETIF) and a co-investment vehicle, closed at €706 million. This exceeds the initial €500 million target by 40%, only 20 months after first closing. The strong demand highlights the appeal of ETIF’s diversified SFDR Article 9 investment strategy aimed at transitioning essential infrastructure services to a low carbon economy.
The diverse international institutional investor base, including infrastructure allocations and climate-focused capital, underscores ETIF’s robust sustainability framework. Key investors include the European Investment Fund, which committed €75 million at the first closing in November 2022, along with asset managers, banks, pension funds, insurance companies, and sovereign funds.
ETIF has committed capital throughout the fundraising process, building a portfolio of six transition infrastructure companies, representing approximately 60% of the total capital raised. These investments are designed to deliver attractive returns while achieving carbon net neutrality by 2040. The portfolio includes:
- Ikaros Solar: Belgian rooftop solar developer
- Resource: Joint venture operating a plastic waste sorting plant in Denmark
- Electra: Pan-European electric vehicle (EV) fast charging operator
- Etix Everywhere: Regional edge data center provider
- TSE: Solar energy group focusing on agrivoltaic projects
- 2BSI: Diversified waste management company
Laurent Chatelin, Partner – Infrastructure, stated, “The success of ETIF’s fundraise, exceeding the initial target by more than 40%, demonstrates the market’s growing appetite for diversified sustainable infrastructure investment strategies that can deliver both financial performance and quantifiable ESG impact. We are grateful for the support of our rapidly expanding investor base who confirmed their confidence in our ability to deliver attractive risk-adjusted returns. We are thrilled by the pace and quality of our investments, with approximately 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.”
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Co-CEOs Christophe Bavière and William Kadouch-Chassaing added, “The closing of our maiden transition infrastructure program 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 recognized by investors.”