French insurance group CNP Assurances has partnered with Paris based boutique Meridiam to launch the Meridiam Transition fund.
Meridiam is a global investor and asset manager specialising in public and community infrastructure with a long-term view.
Ahead of the COP 21, the fund aims to to address challenges of the energy transition by contributing to the financing of greenfield investment projects.
It targets institutional investors seeking to contribute to the financing of the green and energy transition.
Meridiam Transition will primarily target innovative development projects in the field of energy efficiency, local energy services (particularly heating networks as well as energy recovery from waste), power and gas grids and innovative renewable energies.
The fund will support “projects of a fairly modest size but with a significant regional impact, in France and the European Union, on a long term horizon.
Frédéric Lavenir, CEO of CNP Assurances, said : “CNP Assurances took the initiative of launching this green infrastructure fund, which is designed to invest in local projects in France and which could soon reach €500m.
“As an institutional investor, we believe that it is both our responsibility and in our interest as a long-term player to contribute to developing new financing models to respond to the challenges of energy transition and climate change.”
“The energy transition, and the associated challenge of climate change, is also a fantastic chance to offer long-term investment opportunities to institutional investors and to create a virtuous circle between savings and local projects. Through Meridiam Transition, we are delighted to be able to offer French institutional investors a chance to be part of this virtuous circle”, added Thierry Déau, Meridiam founder and CEO.
Founded in 2005, Meridiam has €3bn of assets under management.