Following the launch in 2023 of a low-carbon infrastructure fund open only to institutional investors, Épopée Gestion is launching a new fund, this time dedicated to retail investors. The FCPR Épopée Infra Climat Co-invest I will invest in France in the next generation of climate-friendly infrastructure to accelerate the regional energy transition. The fund will systematically co-invest on identical terms with the fund reserved for institutional investors. As a result, retail investors will benefit from recognized management expertise, while gaining access to assets usually reserved for institutional investors. Suravenir, Crédit Mutuel Arkéa’s life insurance and provident savings subsidiary, is the first life insurer to list the fund in its “Tremplin” range of unlisted funds.
An ambitious infrastructure fund to decarbonize regions
The FCPR Épopée Infra Climat Co-invest I, recently approved by the AMF, will systematically co-invest alongside the institutional fund Épopée Infra Climat I, currently endowed with €150 million and subscribed mainly by major French and European institutional investors (Allianz, Groupama, Abeille Assurances, CDC, Suravenir). Both funds will be managed by Emmanuel Walliser, Director of Infrastructure at Épopée Gestion, and his team.
The FCPR will invest in the new generation of infrastructure serving the decarbonization of regions, with the ambition of supporting projects, often based on relatively emerging technologies, in order to bring them to scale. The target sectors are renewable energies, energy efficiency, sustainable mobility, the circular economy and recycling, as well as the maritime sector. Selected projects must demonstrate an ambitious decarbonization strategy in line with the climate objectives of the Paris Agreement. The fund is rated article 9 SFDR[1], the highest SFDR commitment in terms of integration of ESG criteria.
Among the projects targeted by the fund are the EnerVivo agrivoltaics platform and the Qovoltis and Greenspot electric vehicle charging station projects, in which Épopée Gestion has already invested via its institutional infrastructure fund. There are also projects in the field of sailing container ships, data center renovation, port modernization and recycling. These regional projects will be medium-sized infrastructures (€50 to €500 million per project).
Help democratize unlisted shares and reconcile impact and performance
The Pacte (2019) and Industrie Verte (2023) laws have encouraged the inclusion of private equity in life insurance policies, with the aim of directing French savings towards the real economy.
Particularly committed to this issue, Suravenir has launched its Tremplin range of unlisted funds committed to more sustainable finance, starting in 2022. Épopée Infra Climat Co-invest I is the first capital infrastructure fund to be listed in the Tremplin range.
For Épopée Gestion, an asset management company launched in 2020 and now managing over €750 million in assets, this is the first creation of a vehicle eligible for life insurance. FCPR Épopée Infra Climat Co-invest I will be distributed by networks of asset management advisors, private banks and online distributors.
Ronan Le Moal, co-founder of Épopée Gestion : “In 2023, we were very proud to launch a climate-friendly infrastructure fund that was very ambitious in terms of carbon emissions, while aiming for a high level of performance. Two years later, we’re even prouder to make this expertise accessible to as many people as possible through life insurance. We would like to thank Suravenir for their confidence in this project. This approach is part of Épopée Gestion’s wider ambition to give local residents access to the projects we finance in their region. Particularly projects with a high social and environmental impact. It’s a form of short-circuit finance that suits us very well and is totally in line with our status as a mission-driven company.”
[1] Sustainable Finance Disclosure Regulation