French private equity firm Omnes Capital and Belgian property developer ION have signed a cooperation agreement to establish a development fund with a capital of €35 million. The available capital will be used for new environment-friendly developments in Belgium and Luxembourg in the coming years. All the developments will be ‘dark green’ investments, meaning they will comply with the requirements of the Omnes Capital fund, classified as Article 9 under the Sustainable Finance Disclosure Regulation (SFDR).
The CEOs of Omnes Capital and ION recently signed the joint venture agreement in Paris. The Belgian property developer will be responsible for the acquisition and roll-out of all the developments that the new fund will finance. The capital provided by Omnes Capital for the joint venture comes from its new Sustainable Cities fund, Construction Energie Plus 2. For Omnes Capital, this is the first joint venture outside France within the framework of CEP2.
“Omnes is delighted with this first partnership outside France with ION, which has demonstrated its expertise in developing projects with an exceptional environmental performance, both in terms of their energy and carbon footprint.”
Caroline Yametti, Partner Omnes, Sustainable Cities
In recent months, Omnes actively scoured the Belgian market for suitable partners, selecting ION because of its ESG-driven approach, its continuous quest for innovation, and its (financial) robustness. ION has been integrating sustainable technology, including heat networks, into its developments for over ten years. It is also one of the first property developers in Belgium to instruct every contractor to use batteries as a power source on construction sites instead of polluting diesel generators.
“This is the third development fund after PDF1 and PDF2 and we can’t wait to put this capital to work. We are immensely grateful for the partnership with Omnes Capital as it gives us additional clout to continue to build high-quality, sustainable residential and commercial developments in Belgium and Luxembourg. At the same time, this is yet another confirmation that our approach and vision work and a testament to the confidence that European investors have in us.”
Kristof Vanfleteren, CEO ION
Ready to take full advantage of opportunities
Omnes and ION expect to launch their first development in 2024, with preparations already in full swing. The joint venture is convinced that the Belgian and Luxembourg markets offer tremendous potential and opportunities, especially in the current real estate market.
About Omnes Capital
Omnes is a leading private equity firm dedicated to energy transition and innovation. With over €5.7 billion in assets under management, our teams support long-term partnerships with entrepreneurs through our four core businesses: renewable energy, sustainable cities, deeptech and co-investment. For over 20 years, Omnes has been applying its expertise to help businesses grow in more than 15 countries, with a particular focus on sustainable development. As part of its approach as a responsible investor, the company has created the Omnes Foundation to support non-profit organisations working for children and young people in the fields of education, health, social and economic integration.
omnescapital.com – LinkedIn
ION was founded in 2011 by CEOs Davy Demuynck and Kristof Vanfleteren, along with chairman Paul Thiers. Since its inception, the property developer and real estate investor has already developed more than 235,000 m², completing 148 developments across Belgium, the Netherlands and Luxembourg. The ongoing projects represent a market value of €3,351 million. ION’s roots and headquarters are in Waregem (Belgium), but the property developer now also has offices in Brussels and Antwerp.
ION builds multi-purpose residential, office, retail and urban developments with high added value, with the ambition of shaping the cities of tomorrow. As one of the largest independent property developers in Belgium, ION specialises in complex mixed projects, including speculative developments, public-private partnerships, and custom projects, in addition to coordinating real estate projects as a project manager. ION attaches great importance to climate-friendly, sustainable solutions, striving to take the lead in this field in the Belgian real estate market.
ion.be – LinkedIn