Eiffel raises €777m for impact debt fund
Eiffel Investment Group has raised €777m (£655m) for its second impact debt fund from a range of institutional investors.
The Paris-based asset manager said that this closing brings its total private debt assets under management to more than €3.3bn.
Eiffel Impact Debt II deploys senior debt financing from €10m to €100m. It has already deployed nearly 60 per cent of its funds raised, which the firm said has helped to finance the growth of 21 European SMEs and improve their ESG performance through the implementation of 66 impact covenants.
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Created by Eiffel, these covenants are determined in collaboration with the management of each company, to target progress in ESG strategy such as job creation and carbon footprint reduction, which impacts the financing interest rates.
“As an impact-conscious investor, we are always looking to design and improve strategies capable of generating maximum positive externalities, which add to financial performance,” said Fabrice Dumonteil (pictured), chairman of Eiffel Investment Group.
“Eiffel Impact Debt II illustrates this approach by amplifying our impact ambitions. We would like to warmly thank our investors for their trust and support, which will enable us to continue accelerating our strategy in favour of the environmental and fair transition of European midcaps.”
Eiffel launched its first impact debt fund earlier this year, which raised €200m at first closing with backing from the European Investment Fund.
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