Eurazeo Raises Over €700 Million for Transition Infrastructure Strategy, Beating Initial Target by 40%
Investment management firm Eurazeo announced today that its inaugural transition infrastructure program raised €706 million (USD$770 million) in commitments at its final close, beating the strategy’s initial €500 million target by more than 40%, and only 20 months after first closing.
The commitments include €663 million for the Eurazeo Transition Infrastructure Fund (ETIF), classified as Article 9 under the SFDR regulation, and focused on transitioning essential services that are delivered by infrastructure to a low carbon economy. The fund invests in transition assets across the energy, digital, clean transport, and environmental sectors.
Laurent Chatelin, Eurazeo Partner – Infrastructure, said:
“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 return.”
According to Eurazeo, 60% of the fund’s capital has already been deployed, with a portfolio of six transition infrastructure companies. Investments include Belgian rooftop solar developer Ikaros Solar, electric vehicle fast charging operator Electra, and agrivoltaic project-focused solar energy group TSE.
The investments came from institutional investors across North America, EMEA and France including the European Investment Fund, which made a cornerstone commitment of €75m at first closing in November 2022, and large consultants, asset managers, banks, pension funds, insurance companies, sovereign and fund of funds.
Christophe Bavière and William Kadouch-Chassaing, Eurazeo Co-CEOs, said:
‘’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 6 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.‘’