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.
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