€180m French-focused infra fund launches

Groupe BCE, France’s second-largest banking group, has launched FIDEPPP2 ‘to help finance the French economy’ via public-private partnerships. The fund will be subscribed exclusively by Groupe BCE subsidiaries including Natixis, which will also manage the new vehicle.

France’s second-largest banking group – Groupe BCE – has launched its second infrastructure fund targeting French public-private partnerships (PPP), the bank announced on Wednesday.

The new vehicle, known as FIDEPPP2, is aiming to raise €180 million and will be subscribed exclusively by entities belonging to Groupe BCE, including Natixis, Credit Foncier, BCPE International et Outre-mer and the 17 regional Caisses d’Epargne banks. The fund will be managed by Natixis Environnement & Infrastructures.

FIDEPPP2 aims “to help finance the French economy” via PPPs and will “be in a position to invest private equity capital in projects for a total of approximately €4 billion,” Groupe BCE said in a statement. 

As its name indicates, FIDEPPP2 follows FIDEPPP – a €20 million French-focused infrastructure fund launched in 2005 to invest in local PPPs. Groupe BCE said that FIDEPPP “facilitated the completion of infrastructure and equipment projects worth almost €4 billion for the French state and local authorities”. 

FIDEPPP has invested in PPPs in transport, education, environment, energy, social accommodation, healthcare, defence and telecommunication projects, a model FIDEPPP2 intends to replicate.