Credit Agricole launches new funds

Crédit Agricole Private Equity has launched two new funds focusing on renewable energy and infrastructure. Capenergie is apparently the first venture fund focused solely on renewables, and has €100m to invest in companies such as specialized developers, promoters, equipment suppliers and operators. The Credit Agricole group committed €80m to the fund, with the remainder raised from third party investors.

The second fund is a €400m vehicle called Meridiam Infrastructure, which will specialise in equity and quasi-equity financing for infrastructures financed by private-public partnerships.

The target sectors for investment are transport (motorways, rail, airports), public utility (hospital, schools, prisons, gendarmeries) and the environment. Credit Agricole and Aecom Technology Corporation, a US engineer, have invested €220m.

Crédit Agricole Private Equity has also announced it is to discontinue two funds: CACI 2 (focussed on later-stage financing and LBO) and Mezzanis 2 (mezzanine) funds, in July 2006.