Econostrum | Economic News in the Mediterranean

InfraMed fund launches website

on Monday, October 29th 2012 à 13:50 | Read 383 times

As it launches its website, InfraMed, which was created in May 2010 by a solid partnership of Mediterranean institutions, provides an update on its projects and the new situation in the region.

Le site du fonds InfraMed servira de vitrine auprès des investisseurs et du grand public. (photo : DR)
Le site du fonds InfraMed servira de vitrine auprès des investisseurs et du grand public. (photo : DR)
InfraMed, which was created in May 2010, has just seen its website  go live. This is an ideal opportunity for an update on the first financing facility of the Union for the Mediterranean (UfM). 

With seed capital of €385m, InfraMed joins together five prestigious institutions from north and south of the Mediterranean: Caisse des Dépôts et Consignations  (France) and Cassa Depositi e Prestiti  (Italy), which each committed €150m; the European Investment Bank  (EIB), which injected €50m;Caisse de Dépôt et de Gestion  (Morocco), which contributed €20m; and EFG Hermès  (Egypt), which invested €15m. 

The new InfraMed website, which went live on Monday, 23 May 2011, is both for investors and the general public. “We will provide updates on InfraMed’s investment projects, but the site also allows us to relay any news, our ambitions for infrastructure in the Mediterranean and our long-term investment philosophy,” explains Frédéric Ottavy, CEO of InfraMed. His team is now at full strength, with seven people in Paris, four in Morocco and two in Egypt.

Industrial partners in three countries

Frédéric Ottavy, à la tête du fonds Inframed. (photo : DR)
Frédéric Ottavy, à la tête du fonds Inframed. (photo : DR)
InfraMed’s mandate is to invest in sustainable urban, energy and transport infrastructure projects on the southern and eastern shores of the Mediterranean. The company mainly makes equity or quasi-equity minority investments in greenfield projects run by industrial operators that are renowned in their respective sectors. These projects must comply with international rules on environmental protection, social impact, transparency and tender procurement. 

InfraMed’s defining features are a long-term investment horizon of 15 years and the pursuit of a sustainable economic return. A Strategic Board comprising globally renowned experts provides guidance to the fund. Despite recent events in the Arab world, InfraMed continues to work in the strictest confidence on several investments in the area. Several projects have already been submitted to the Investment Committee, of which half the members are independent. 

“At this initial stage, we are in talks with industrial partners about investing in three countries: Morocco, Egypt and Turkey,” reveals Frédéric Ottavy. “We are also closely monitoring Jordan,” he adds. 

InfraMed also expects to raise additional funds. When the fund was launched in 2010, its partners expected to eventually commit €1bn. Now that the transition period of new governments being installed is over, InfraMed believes the new situation created by popular uprisings in the Arab world opens up a wealth of opportunities and can be compared, to a certain extent, to the situation post-1989 in central and eastern Europe.

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