Meridiam has announced the closing of the Meridiam Transition Fund, raising €425 million ($480 million) in six months from French institutional investors. The fund received support from Allianz France, Aviva France, BNP Paribas Cardif, Crédit Industriel et Commercial, the French Reserve Fund, Pro BTP and Société Générale Insurance.
The Meridiam Transition Fund will invest as a long-term shareholder in midsized projects with a horizon of 20 years in France and throughout the European Union. The fund will finance and support infrastructure projects dedicated to environmental and energy transitions. It will invest primarily in new infrastructure projects (greenfield) within the energy efficiency sector, including local energy services (such as heating networks and energy recovery waste), electricity and gas networks, and renewable energy.
The Meridiam Transition Fund is the second impact investment fund launched by Meridiam, following the launch of the Meridiam Infrastructure Africa Fund.
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