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The Eiffel Essentiel fund raises €300 million to invest in the energy and ecological transition


Written by Eric Apim on Friday, February 12th 2021 à 14:43 | Read 527 times



Eiffel Essentiel will only invest in companies working for the energy and ecological transition (photo EIG).
Eiffel Essentiel will only invest in companies working for the energy and ecological transition (photo EIG).
FRANCE. Eiffel Investment Group (EIG) announced on Thursday, February 11, 2021, that it had raised €300 million for the first closing of its closed-end growth capital fund Eiffel Essentiel. It will take long-term minority stakes to "accompany French and European champions in the energy and ecological transition and help them change scale", according to a press release.

"Involved in financing the energy and ecological transition for more than ten years, we designed Eiffel Essentiel to meet the need for equity capital expressed by operators in the sector to finance their strong growth. We are excited every day by the prospects for development and value creation of these players! ", comments Fabrice Dumonteil, President of Eiffel.

Out of the €300 million obtained with twelve leading investors*, €80 million has been provided by the European Investment Bank (EIB) from September 2019. In March 2017, the EIB and EiG had already jointly launched an Eiffel Energy Transition Fund to finance the energy transition.

Eiffel Essentiel is expected to reach €500 million by its final closing scheduled for late 2021 or early 2022.

 

Eiffel Essentiel will only take minority stakes

The fund "plans to invest up to €50 million in about fifteen French and European SME-ETIs (...) with the potential to become champions in their sector". Eiffel Essentiel will provide equity and quasi-equity capital "at the key stage of growth capital, when technological and economic models are largely de-risked, to enable the companies it finances to change scale". It will remain a minority shareholder alongside shareholder managers, founding families or industrial shareholders for periods of up to ten years. 

A first investment will be made shortly unveils Eiffel Investment Group without further details.

Created in 2009 within the Louis Dreyfus Group and becoming independent in 2011 with the EIG team and Impala (Jacques Veyrat) as reference shareholders, Eiffel Investment Group manages more than €3 billion for major European institutional investors and 25,000 individual clients.
 

* EIB, BpiFrance (via the Growth Fund of Funds and the Future Investment Program), AG2R La Mondiale, Covéa, Pro BTP, CIPAV, La Lux, Suravenir, L'Auxiliaire, Banque de France and families of entrepreneurs who are experts in the sector.




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