Crédit Agricole Private Equity has given StormHarbour Securities a mandate to complete the fund-raising for the Capenergie II FCPR, its second private equity investment fund dedicated to renewable energies in France and the rest of Europe.
Capenergie II’s investment strategy stands out through its unique approach combining an expansion capital-type return with infrastructure-type risk. The fund invests in fast-growing SMEs in the renewable energies sector and in the infrastructure projects that these SMEs develop or build.
In spite of recent regulatory changes, the segment continues to ride high on the back of highly favourable fundamental trends. For example, the goal of lifting the contribution made by green energies to 20% of the European energy mix requires investment of €75 billion p.a. out to 2020 according to the European Union. Furthermore, the steady decline in production costs is increasing the competitiveness of the segment and reducing its reliance on subsidies.
Serge Savasta, manager of the Capenergie fund, commented: “This shift in the green energy market towards greater competitiveness is throwing up opportunities for SMEs with flexible financing capabilities. Capenergie II supports them by providing equity investment solutions well-suited to the development of their infrastructure projects.”
Capenergie II held an interim closing on €120.5 million in May 2011 and has already committed more than €40 million to five investments. It is the successor to Capenergie I, the first French institutional fund dedicated to renewable energies, which was launched in 2006. Over five years, Capenergie I invested close to €100 million in 16 businesses and infrastructure projects in France and the rest of Europe.
StormHarbour will provide Capenergie II with the benefit of its in-depth knowledge of the sector and its network of investors. Patrick Swiderski, joint head of the infrastructure business in Europe, said: “We believe that Capenergie II’s investment strategy, which combines expansion capital and infrastructure, offers the prospect of unique resilience to market uncertainties, together with an attractive risk-reward ratio for investors. We are delighted to support this team as it breaks new ground in investment in renewable energies and look forward to presenting this fund to our investors.”
Crédit Agricole Private Equity
Martine Sessin-Caracci, firstname.lastname@example.org – +33 1 43 23 90 88
Shan – Caroline Babouillard, email@example.com – +33 1 44 50 58 72
Duncan Kerr, Finch & Partners
Direct – +44 (0) 20 7851 9171
Mobile – +44 (0) 7824 811 160
Office – +44 (0) 20 7851 7140
Email – Duncan@finchandpartners.com
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specializing in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 100 professionals manages €3.7 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure. Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI).
About StormHarbour Securities
StormHarbour is an independent global markets and financial advisory firm founded in 2009 on the core values of integrity, trust and global expertise.
StormHarbour’s core businesses are sales and trading, structuring and advisory, and capital markets under StormHarbour Securities, and asset management under StormHarbour Alternative Investments.