Private Equity News & Analysis

Crédit Agricole Private Equity pursues growth with twin fund launch

French bank Crédit Agricole is aiming to double its exposure to private equity and new funds targeting renewables and infrastructure, two of the asset’s hottest sectors, are another step towards that goal.

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Crédit Agricole Private Equity has launched two new venture funds with the intention of doubling its annual investment to €3 billion of funds under management.

It has raised a €100 million for Capenergie, the first French venture fund dedicated to renewable energies. A cornerstone of €70 million came from the bank’s coffers.

It has also said it is looking to raise €400 million in equity and quasi-equity financing for Meridiam Infrastructure, a fund targeting France’ burgeoning private-public partnership market for infrastructure investment.

Last year Crédit Agricole invested about €190 million launching LCL Innovation 1, an innovation fund, CACI 2, a buyout fund, and Mezzanis 2, a mezzanine fund.

The bank, which was a cornerstone investor in CACI 2 and Mezzanis 2 to the tune of €140 million, alongside Predica and Crédit Agricole Regional Banks, said it intended to close both funds next month.