Eiffel Investment Group raises €350m

The Paris-based asset manager has closed first bridge debt fund far above initial target.

Eiffel Investment Group has closed its first bridge debt fund for renewable energy projects above target at €350 million. The Eiffel Energy Transition Fund was originally launched in 2017 with a €200 million target. The 10-year fund provides short-term pre-construction debt to renewable-energy and energy-efficiency projects across Europe.

The fund contained 10 institutional investors such as Aviva FranceCredit Mutuel, MAIF and ProBTP, as well as garnering €40 million each from the European Investment Bank and French energy agency ADEME.