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Laxman Pai, Opalesque Asia: French postal bank La Banque Postale has joined forces with its LBP AM and CNP Assurances to launch a €1 billion ($1.06bn) infrastructure debt fund targeting energy transition opportunities across Europe.
LBP AM, a multi-specialist conviction manager dedicated entirely to sustainable finance with assets under management of €70 billion, is 75% owned by La Banque Postale and 25% owned by Aegon Asset Management. CNP Assurances Group, a major French insurance corporation, is a major player in insurance in Europe and Latin America.
The new investment strategy is the first fund of its kind to use the French group's investment banking and asset management arms, said a joint media release.
Classified under Article 8 of the Sustainable Finance Disclosures Regulation (SFDR), this impact debt fund will finance infrastructure projects that make a substantial contribution to mitigating climate change or are committed to decarbonizing their operations.
"Developed by France's major public financial center, this new fund is the result of a close collaboration between La Banque Postale, LBP AM, and CNP Assurances combining their complementary expertise. It aims to offer a comprehensive and differentiated financing solution to projects and players involved in the energy transition, based on the technical criteria of the European green taxonomy or an analysis of the soundness of decarbonization plans for assets in transition," said the rele...................... To view our full article Click here
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