To invest in tangible assets generating recurring and secure cash flows, while serving the common interest. These are long-term investments focusing on essential needs of the population.

As such, we follow a “buy and hold” strategy with a maturity of 25 years

  • Size of the fund: €500 million
  • Number of targeted investments: 20-30
  • Equity check: €10-50 million
  • Maturity of fund: 25 years
  • Instruments used: equity and quasi-equity

Investments in “core” greenfield and brownfield infrastructures, with options for value-added strategy.

Strategy

Congruent buy & hold investment strategy, in line with the long-term prospects of the assets and generating regular profitability.
Contribution to the performance of assets through value-added strategy

Sector

Multi-sector allocation (renewables, environment, transport, social, digital...) with a large portion dedicated to green energy

Project quality

Systematic analysis of asset resilience, in light of the Covid-19 crisis.
Integration of ESG, climate and impact analyses for the assets

Location

European assets, with over 75% located in France and the rest in the European Economic Area + Switzerland + Great Britain

Type of investments

A selection of projects in various sectors, at different stages of development, in close collaboration with developers.

  • Targeted business sectors

    • A strong interest in Renewable Energy (wind, solar and hydro power, methanization...)
    • Search for opportunities in many other sectors: transport, healthcare, water & waste, heating network, telecoms, culture & leisure activities, social...

  • Development stages

    • Priority given to greenfield projects: development & construction
    • Brownfield projects already in operation

  • Involvement of the Infrastructure Fund / risk taken

    • Active participation in the projects structuring
    • Assistance to projects over their lifespan (20/25 years)
    • Value-added fostered by the team’s experience and our proximity to companies working with the Crédit Mutuel Alliance Fédérale Network

Ecological and energy transition

Over €15 billion required for a transition towards carbon-free energy in France.

Challenges of the ecological and energy transition

  • To go from 17% to 32% of renewables in the final French gross energy consumption by 2030
  • To reach 40% of energy produced from renewable sources by 2030
  • To assist renewable energy projects allowing for decentralized and more flexible electricity production, consistent with the idea of local consumption
  • To develop storage capabilities for the energy produced by renewables, in order to support the electric network
  • To modernise the energy network
  • To increase the percentage of electricity produced by renewables (France, 2010–goal 2030) [in % of net production]

Examples of eligible assets

  • Networks

  • Photovoltaic

  • Wind power

  • Hydroelectric

  • Water processing and distribution

  • Waste processing

  • Energy storage

  • District Heating

Demographic transition

The required modernisation of infrastructures to support the demographic transition.

Challenges of the demographic transition

  • To anticipate and address the needs of an ageing population in France
    • + 5 million seniors (>55-year-old) by 2035, within a stable French population
    • Need to develop/adapt transport and healthcare infrastructures (especially with around 100,000 additional beds needed in nursing homes by 2030)
  • To develop transport infrastructures within the territories, in particular green transport
    • Goal of 1.2 million electric vehicles, requiring the implementation of numerous charging stations
    • Incentive for local government to develop electricity-, biogas- and hydrogen-powered public transport
    • Mobilising large retail stores in favour of carbon-free freight transport

Examples of eligible assets

  • Schools and administrative buildings

  • Healthcare facilities

  • Social facilities

  • Nursing homes and services for seniors

  • Electric vehicles

  • Public transport

  • Railways

  • Air transport

  • Road transport

  • Bridges

  • Maritime transport

Digital transition

New types of infrastructure projects, with associated services, to support the digital transition.

Challenges of the digital transition

  • To develop digital infrastructure projects that are able to meet the challenges facing the territories regarding innovation, employment and exporting
  • To consolidate high-speed connectivity for fixed and mobile networks
    • Investments of around €10 billion per year in networks
    • Goal of connecting citizens, companies, and local authorities
  • To develop the Internet of Things (IoT) in order to help a large range of sectors and professionals in the territories
    • Smart territories
    • Connected cars
    • E-healthcare
    • Security

Examples of eligible assets

  • Telecommunication towers

  • FTTH networks

  • Public lighting

  • Smart cities

  • Connected cars

  • E-healthcare

  • Connected homes

  • Security

Key factors of success

The differenciating features of our fund

A team featuring diversified and complementary experiences (private equity, M&A, infrastructure financing and industrial sponsoring)

Long-term lifespan of the fund, compatible with the lifespan of the projects and meeting the expectations of public clients

Ability to intervene directly or through SPVs, for mid-cap projects

Group sourcing by Crédit Mutuel and CIC allowing to identify projects ahead of time and to be close to local authorities

A culture of being lead investor

Commitment and support from Crédit Mutuel Equity

Greater integration of extra-financial factors encouraging impact development

Alignment between the defined investment strategy and the needs of the institutions

Our long-term approach

Our investments are rigorously selected, in accordance with our goal of generating sustainable positive changes to our environment and society.

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