Eiffel Funding Group has raised €777m (£655m) for its second influence debt fund from a variety of institutional buyers.
The Paris-based asset supervisor mentioned that this closing brings its complete personal debt belongings below administration to greater than €3.3bn.
Eiffel Affect Debt II deploys senior debt financing from €10m to €100m. It has already deployed practically 60 per cent of its funds raised, which the agency mentioned has helped to finance the expansion of 21 European SMEs and enhance their ESG efficiency via the implementation of 66 influence covenants.
Learn extra: Eiffel Power Transition III launches with €500m raised
Created by Eiffel, these covenants are decided in collaboration with the administration of every firm, to focus on progress in ESG technique corresponding to job creation and carbon footprint discount, which impacts the financing rates of interest.
“As an impact-conscious investor, we’re at all times seeking to design and enhance methods able to producing most constructive externalities, which add to monetary efficiency,” mentioned Fabrice Dumonteil (pictured), chairman of Eiffel Funding Group.
“Eiffel Affect Debt II illustrates this strategy by amplifying our influence ambitions. We wish to warmly thank our buyers for his or her belief and help, which can allow us to proceed accelerating our technique in favour of the environmental and truthful transition of European midcaps.”
Eiffel launched its first influence debt fund earlier this 12 months, which raised €200m at first closing with backing from the European Funding Fund.
Learn extra: Deep influence: Particular report on influence investing
