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Eiffel Funding Group has launched a direct lending fund which might be devoted to small- and medium-sized enterprises (SMEs) in Europe.
The Eiffel Impression Direct Lending fund has a goal of €400m (£338m) and has simply finalized its first closing at €200m with various institutional buyers, together with the European Funding Fund.
The fund goals to deal with the non-banking financing and impression wants of SMEs, whereas additionally providing an impression investing resolution for buyers.
It’s going to present unitranche financing to roughly 25 French and European SMEs with a median goal EBITDA of between €5m and €15m. Amenities are anticipated to vary from €10m to €30m.
“As an impact-conscious investor, we’re all the time trying to design methods able to producing most constructive externalities,” stated Fabrice Dumonteil, president of Eiffel Funding Group.
“Eiffel Impression Direct Lending illustrates this method by offering an progressive resolution to the current wants of SMEs.
Learn extra: Eiffel Vitality Transition III launches with €500m raised
“We’re delighted with the enthusiastic reception the fund has obtained from buyers, and warmly thank them for his or her belief and help, which allows us to speed up our technique in favour of the decarbonization of European SMEs.”
The fund incorporates a collection of impression covenants which might be agreed with every financed companys’ administration, to insure that every one funded SMEs meet sure ESG necessities.
“The EIF is delighted to help the launch of this new fund, which provides financing tailor-made to the particular wants of SMEs and is totally consistent with the technique of the EIF and the InvestEU program,” stated Marjut Falkstedt, chief govt of the EIF.
Learn extra: France’s Eiffel to launch impression unitranche fund
“The EIF is dedicated to supporting the expansion of SMEs by creating an atmosphere conducive to their growth, thereby contributing to the European financial system. The fund can even play a key position in serving to SMEs take account of environmental and social issues.
“By educating and integrating these points into the event of European SMEs, we’re strengthening their resilience and long-term competitiveness, whereas selling a extra sustainable and equitable future for all.”
The fund has already made its first transaction, with an funding in heading-ventilation-cooling specialists SATEP SAS, to fund the corporate’s progress.
Eiffel Funding Group manages greater than €3.2bn in AUM, with over €1bn invested in company personal debt in 2023, serving to greater than 40 corporations.
Learn extra: Deep impression: Particular report on impression investing
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