EIF supports Zencap Asset Management in final closing of sustainable transition fund, raising €255 million

• ZEST II surpasses its hard cap, raising €255 million to drive sustainable investments across Europe.
• The European Investment Fund commits €75 million under InvestEU, enhancing the fund’s capacity to accelerate the green transition.
• ZEST II aims to finance renewable energy and infrastructure projects that align with the EU’s climate goals, promoting a sustainable future.

The European Investment Fund (EIF) is announcing its investment of €75 million under InvestEU in Zencap European Sustainable Transition II (ZEST II),a private debt fund dedicated to mezzanine financing for energy transition projects throughout Europe.

The fund aligns its priorities with the objectives of the European Green Deal and has successfully closed at €255 million, exceeding its initial hard cap of €250 million.

“The launch of Zencap European Sustainable Transition II marks a significant step towards mobilising private investments in the green economy,” said Marjut Falkstedt Chief Executive of the EIF. “Our commitment not only reinforces our support for sustainable infrastructure but also catalyses additional investments crucial for achieving the EU’s climate targets.”

The successful closing will broaden ZEST II investment capacity and target a diverse portfolio of impactful green projects, targeting medium-sized assets and renewable energy infrastructures, including initiatives in wind, solar, biogas, and energy storage.

Victoire Blazsin and Guillaume Boucher, representing Zencap, stated: “Thanks to the strong support from the EIF and our institutional partners, this closing reinforces our capacity to finance essential projects that contribute to Europe’s energy transition. We are committed to delivering sustainable benefits while reducing carbon emissions across the continent.”

Background information

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment. EIF celebrates this year three decades at the service of SMEs.

Zencap Asset Management, a subsidiary of Ofi Invest, the asset management arm of Aéma Groupe, is an asset management company specializing in unlisted debt and committed to responsible investment. Since 2009, Zencap AM has been active in a wide variety of financing solutions for real estate assets, infrastructure and small and mid-cap companies. On December 31, 2023, Zencap AM had almost €4 billion in assets under management and advisory mandates.

Press contacts 

EIF:

Serena Sertore, s.sertore@eib.org, tel.: +352 4379 70859

Website: www.eif.org — Media Office +352 4379 21000; press@eib.org 

Zencap AM :
Richard Jacquet, rjacquet@zencap-am.fr , tel. : +33（0) 1 56 68 54 25

Guitel Cohen-Cebula (GROUPE OFI INVEST), guitel.cohen-cebula@ofi-invest.com,
 +33 (0) 6 26 56 75 36

Cyrille Lachevre (VERBATEE), c.lachevre@verbatee.com, +33 (0) 6 20 42 12 08