LBP AM achieves EUR270mn first close of Impact Infrastructure Debt Fund
La Banque Postale Asset Management (LBP AM) has completed the first closing of EUR270 million (US$280.24 million) of its LBPAM Infrastructure Debt Climate Impact Fund.
The fund aims to invest in low-carbon projects with a minimum objective of 70% alignment with the European taxonomy. The fund targets the following three sectors for the reduction of carbon emissions: renewable energies, electric transport, and energy efficiency. The target size of the fund is EUR500 million (US$527.63 million) with a hard cap of EUR700 million (US$738.68 million).
Its marketing has begun with investment from European institutional investors alongside the CNP group in collaboration with Aegon Asset Management. The fund will deploy all the funds raised and build a portfolio of 15-20 projects for a maximum of 3 years. The first planned investment is for the financing of a new biomass cogeneration plant that will produce green electricity and steam for an industrial site in France.
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