Crédit Mutuel Capital Privé is carrying out its first equity investments in the infrastructure sector through Siloé Infrastructures, its first investment fund in this market, which will total € 500 million. Crédit Mutuel Capital Privé, third-party investment managers for over 20 years, is a subsidiary of Crédit Mutuel Equity, which groups together all the capital investment activities of Crédit Mutuel Alliance Fédérale.

The Siloé Infrastructures fund aims to closely support regional structural projects in three areas of public interest : environmental and energy transition, demographic transition which necessitates the modernization of existing structures and digital transition which is at the heart of innovation challenges. This policy of investment responds to Crédit Mutuel Alliance Fédérale's long-term vision and strong regional presence. With a strategy mainly focused on France and investment ticket sizes of between 10 and 50 m€, the fund has already carried out three operations for a total investment of around 100 m€.

Crédit Mutuel Capital Privé selects assets on the basis of their resilience and their capacity to generate a positive, durable impact on the environment, while also fulfilling the expectations of long-term institutional investors. Headed by Gérard Blain and Bertrand Ghez, an experienced team of professionals use their complementary skills in the financing of large scale projects and in Private Equity. Siloé Infrastructures invests mainly in French assets with the aim of generating a positive, tangible impact with measurable criteria, on the development of regions, whether it be for economic or environmental attractiveness or in a health and social context.
Three main themes of public interest have been selected by Crédit Mutuel Capital Privé:

  • Environmental and energy transition where the needs are estimated at over € 8.5 billion in equity in order to make the transition to sustainable energy - in particular solar, wind and hydro power, or the waste treatment.
  • The demographic challenges which mean anticipating the development of adequate infrastructures to manage the ageing of the French population as well as transport systems to promote mobility.
  • The digital transition in anticipation of high-speed internet connection, 5G deployment, the development of IoT (internet of things) and the optimisation of city resources ("smart cities")
"We have chosen to turn towards large scale infrastructure projects, for they are entering a cycle of modernization which will automatically bring about a demand for investment. This asset class has the characteristic of being long-term for it is geared towards public service contracts in various sectors involving energy, transport, water, health, telecommunications, etc. Furthermore the social implications of these large-scale projects correspond to the values we would like to embody. And our position as an atypical investor in Private Equity in France - we intervene with our own capital (3.4 billion €) - reassures us in this strategic and virtuous choice to support long term projects, such as infrastructure in this case" says Antoine Jarmak, Chairman of the Board of Crédit Mutuel Equity, sponsor of the fund and principal subscriber.

"The Siloé Infrastructures fund makes complete sense in the context of an economic recovery plan after the health crisis, which has acted as a catalyst for an exceptional mobilization of means to invest in different fields of excellence and to address the new challenges facing society in the future" explains Bertrand Ghez, Deputy Managing Director of Crédit Mutuel Capital Privé.

Siloé Infrastructures is launching with three portfolio assets in the Renewable Energy Sector, confirming the fund's commitment to the energy transition.

An initial operation in the second largest solar energy park in France, at Marville in the Meuse department of Eastern France, completed by an operation at Oxelaëre in the North of France were signed in July 2020. The operation involved the acquisition of a portfolio of six solar energy parks with a total capacity of 95 MWp (Megawatt Peak) currently under construction, from the French developer Third Step Energy (TSE). A great effort was made to restore the biodiversity, in particular at the NATO base in Marville.

In December 2020, Crédit Mutuel Capital Privé, in its role as "lead investor" also assembled a pool of investors around the developer TTR Energy, to create an independent producer of electricity, Hexagon Renewable Energy, thus acquiring a portfolio of 19 wind farm projects, adding to existing output in order to achieve total capacity of over 700 MWp

At the end of January 2021, Siloé Infrastructures invested in a portfolio of four wind farm projects developed by Voltalia, a major player in renewable energy, listed on the French stock market. These wind farms are situated in the Nouvelle Aquitaine region. Three parks based near to La Rochelle, at Coivert and Vergné, are currently under construction. They will become operational at the end of 2021. The fourth wind farm of 10 MW, situated at Adriers in the Vienne region is already operational. Voltalia sold 100% of their shares to the Siloé Infrastructures fund but will continue to supply a complete range of Construction and Operation & Maintenance services. The group will carry out asset management services via its subsidiary Greensolver, for all their farms.

"These first operations comprehensively illustrate our initial ambition to support large economic infrastructure projects over the long term and which have strong implications at both a society and a regional level, which is coherent with our CSR investment model" adds Bertrand Ghez.

Guillaume Angué, Managing Director of Crédit Mutuel Investment Managers adds "Crédit Mutuel Investment Mangers, the hub of expertise dedicated to Credit Mutuel Alliance Fédérale asset management, is proud to promote Siloé Infrastructures investment fund and thus support the energy transition over the long term. This fund is an excellent opportunity for investors, allowing them to benefit from durable, attractive returns. Crédit Mutuel Capital Privé is joining the other management entities for which Crédit Mutuel Investment Managers carries out the commercialisation of products, thus completing our offer to investors".

About Crédit Mutuel Capital Privé

Crédit Mutuel Capital Privé, a management company subsidiary of Crédit Mutuel Equity, has just raised Siloé Infrastructures, its first investment fund dedicated to infrastructures with € 500 million. Siloé Infrastructures's mission is to support regional development in three main areas of public interest: ecological and energy transition, demographic transition requiring modernization of infrastructures, and digital transition as a key innovation challenge. This investment policy fits with Crédit Mutuel Alliance Fédérale's long-term vision and local roots. With a strategy mainly focused on France, the investments range from 10 to € 50 million. More information: www.creditmutuel-capitalprive.eu

About Crédit Mutuel Investment Managers

Crédit Mutuel Investment Managers is Crédit Mutuel Alliance Fédérale's asset management hub. Crédit Mutuel Investment Managers is an investment firm approved by the French prudential supervision and resolution authority (Autorité de Contrôle Prudentiel et de Résolution). Its mission is to promote the know-how of the group's asset management entities (€113 billion in assets under management at the end of December 2020) in order to provide investors with the solutions that best meet their needs. The "multi-entity" model provides access to a wide variety of asset classes managed by professionals with recognised expertise. The seven asset management entities are: Crédit Mutuel Asset Management, BLI - Banque de Luxembourg Investments, CIC for structured product issues conducted by CIC Market Solutions, Cigogne Management, CIC Private Debt, Dubly Transatlantique Gestion and Crédit Mutuel Capital Privé. Specialised by types of investor, the teams at Crédit Mutuel Investment Managers are present in six European countries. They distribute investment services and solutions to institutions, companies, private banks, fund pickers and financial advisers and are sales enablers with the Crédit Mutuel Alliance Fédérale networks. More information: www.creditmutuel-im.eu

About Crédit Mutuel Alliance Fédérale

One of France's leading bankinsurers, operating through nearly 4,300 branches serving 26.7 million customers, Crédit Mutuel Alliance Fédérale offers a diversified range of services to private individuals, locally-based professionals and companies of all sizes. Ranking among Europe's strongest banking groups, its equity totaled €49.6 billion and its CET1 ratio was 17.8% as of December 31, 2020.
Crédit Mutuel Alliance Fédérale comprises the Crédit Mutuel local banks from the following federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) and Antilles-Guyane (Fort-de-France).
Crédit Mutuel Alliance Fédérale also encompasses Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique and Homiris. More information : creditmutuelalliancefederale.fr

Press Contact

Crédit Mutuel Capital Privé :
Réso Média 4.0
Véronique Richez-Lerouge
v.richez-lerouge@reso-media.com
+33 6 14 63 90 00

Crédit Mutuel Investment Managers :
Rémi Ernoult
(+352) 27 00 5302
remi.ernoult@creditmutuel.eu

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