Press release of April 14th, 2022
SWEN Capital Partners announces 1st closing of its private-banking focused infrastructure fund* as well as initial 3 portfolio investments
SWEN Capital Partners, a leading player in sustainable private equity investments, has raised €20 million for its private-banking focused infrastructure fund*.
Retail investors' strong interest for infrastructure is confirmed*
In October of last year, SWEN Capital Partners decided to open its Infrastructure range -– which today represents 3 billion euros of assets under management — to the sophisticated investors of private banking* by creating an infrastructure fund that would co-invest alongside its institutional range. Investors thus benefit from SWEN Capital Partners' historic strengths, particularly in the area of ESG criteria, which have been central to its strategy for over ten years.
“This first closing was a crucial step because it confirms that the infrastructure investment thesis is relevant to individual investors. The strong interest they have shown in our fund bears witness to the resilience and attractiveness of unlisted infrastructure as an asset class,” shared Xavier Le Blan, Managing Director at SWEN Capital Partners.
“The asset class is positioned on deep structural trends that demand increasing levels of financing to meet the challenges of sustainable development. The current economic context makes this asset class particularly relevant and illustrates the significant need for investment in infrastructure. We are excited to offer our individual investors the opportunity to direct their savings towards these real assets in a responsible investor approach that combines financial and extra-financial performance,” added Thibault Richon, Head of the infrastructure multi-strategy strategy at SWEN Capital Partners.
“The successful launch of SWEN Capital Partners' first private-banking infrastructure fund in France speaks to the attractiveness and quality of our management company's platform. It also marks a new stage in SWEN Capital Partners' ambition to share with private clients our expertise in infrastructure and our ESG policy, where we have played a pioneering role. We extend our warmest thanks to all the partners and clients who have supported us in achieving this first closing.” concluded Jérôme Delmas, CEO of SWEN Capital Partners.
First assets already financed and a strong pipeline going forward
Three transactions have already been completed alongside SWEN CP's longstanding partners, two direct investments and one secondary deal:
- A direct co-investment alongside CapMan Infra in Koiviston Auto. As Finland’s leading urban mobility company, the company employs 2,300 people, has a fleet of around 1,000 buses, operates a network of 18 strategically placed depots across the country and transported some 85 million passengers prior to the pandemic in 2020. The business consists of 80% long-term contracts with local public transport authorities. The company's ambition is to significantly decarbonize urban mobility thanks to a sixfold increase in its fleet of electric buses to represent a third of the total contracted fleet by 2026.
- A direct co-investment with Antin Infrastructure Partners in Origis Energy, a leading independent solar photovoltaic power producer in the United States. Founded in 2008, the company develops, builds and operates large-scale solar and battery energy storage projects. With 130 successfully developed projects to its credit already, Origis Energy is ready to step up its role in the transition to a low-carbon economy by delivering a significant pipeline of contracted projects at advanced stages of development over the next years.
- One secondary transaction in the Meridiam Infrastructure Europe II fund, managed by Meridiam, a long-standing partner of SWEN Capital Partners. Classified as an Article 9 (“Dark Green”) fund under SFDR, this vehicle comprises a portfolio of 21 core and defensive assets across Europe, particularly in the transportation sector (rail, highways, ports) such as the South Europe Atlantic Line or the Port of Calais, as well as health infrastructure.
Thanks to the SWEN Capital Partners infrastructure ecosystem, shaped by long-term relationships, the fund continues to enjoy a deep and attractive dealflow. A fourth transaction is currently underway. This will be a direct co-investment in a strategic digital infrastructure asset in Western Europe.
The fund, classified as Article 8 under SFDR, has a target size of €60 million to be deployed across some 40 underlying equity investments (telecoms, sustainable transportation, environment, energy transition and social infrastructure). The fund relies on a three-pronged investment strategy comprising investments either directly in infrastructure projects (50%), in unlisted infrastructure funds through secondary operations (40%) and in listed indexes or open infrastructure funds (up to 10%).
About SWEN Capital Partners
SWEN Capital Partners is a leading player in responsible investment in unlisted assets in Europe. With €6.8 billion (calculated as the amount of accumulated liabilities) under management, SWEN Capital Partners offers a wide range of investment programs for institutional and private clients. The asset management company integrates ESG criteria in all its asset management activities and has been implementing a climate strategy since 2017. In 2019, it reinforced its actions in favor of fairer and more sustainable growth by launching its first impact fund dedicated to renewable gas. Its increasingly strong convictions are leading the management company to go further in 2021 by launching its new impact management strategy dedicated to ocean regeneration. SWEN Capital Partners is a subsidiary of OFI (whose main shareholders are Macif and Matmut) and Crédit Mutuel Arkéa, as well as part of its team.
Since January 2022, SWEN Capital Partners is shareholder of the NEC Initiative, an independent, multi-shareholder, missiondriven company aiming to accelerate a collaborative deployment of the Net Environmental Contribution (NEC): a multi-issue, scientific, transparent, and open environmental indicator which assesses the alignment of any economic activity with the ecological transition.
* About the fund and investors
The Fund is a Specialized Professional Investment Fund (SPF) not subject to approval by the AMF, France’s regulatory authority. The Fund may therefore adopt management rules not applicable to approved funds. Potential investors are reminded that the subscription, acquisition, sale, or transfer of Units in this fund, directly or through an intermediary, is reserved for informed investors as described in Article 423-27 of the AMF General Regulations, and who have the experience, knowledge, and competence necessary to make their own investment decisions and properly assess the risks involved.
Before investing in this Fund, you should understand how it will be managed and comprehend the specific risks associated with its management. In particular, you should be aware of the terms and conditions specific to the operation and management of this Fund (investment and commitment rules; terms and conditions for subscriptions, acquisitions and redemptions of units; net asset value below which the Fund is dissolved). These terms and conditions are set out in the Prospectus and Fund Regulations, as are the conditions under which the Prospectus or Fund Regulations may be amended.