InvestEU: European Investment Fund and 123 IM have signed a portfolio guarantee to support small and medium businesses (SMEs) and small mid-caps on their sustainability transformation.

• European Investment Fund (EIF) guarantee will support financing to small and medium businesses (SMEs) and small mid-caps experiencing difficulties in accessing credit markets during sustainability transformation.
• The transaction is backed by an InvestEU thematic guarantee under the “Sustainability” window.
• The guarantee will help to deliver some €15 million of new debt financing in France via three debt funds managed by 123 IM.

The European Investment Fund (EIF) backed by the InvestEU programme, has signed a portfolio guarantee of €10,5 million with 123 Investment Managers (123 IM) to support up to €15 million in new financing for  small businesses and private individuals experiencing difficulties in accessing credit markets in France. The transaction is supported by the InvestEU programme, which aims to mobilise over €372 billion in additional investment for EU policy priorities over the period 2021-27.

“We are happy to work with 123 Investment Managers to provide financial resources for SMEs and small mid-caps to move to a more sustainable footing,” said EIF Chief Executive Marjut Falkstedt. “This operation, backed by the InvestEU programme, demonstrates how innovative financing methods drawing on EU resources can help the private sector to address challenges in terms of getting support to finance their green transition.”

“We are pleased to continue our partnership with the EIF by signing a third guarantee contract. This will enable us to accelerate our support for French SMEs in financing their energy transition,” Associate Director of 123 IM, Marc Guittet said, adding that “this partnership highlights a strong objective shared by the EIF and 123 Investment Managers.”

Background information

About the European Investment Fund

The European Investment Fund is part of the European Investment Bank (EIB) Group. It supports EU’s SMEs by improving their access to finance through a wide range of selected financial intermediaries, such as banks, guarantee and leasing companies, micro-credit providers and private equity funds. The EIF designs and implements equity and debt financing instruments to foster EU objectives in support of entrepreneurship, growth, innovation, research and development, green and digital transitions, and employment.

About InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the various EU financial instruments currently available to support investment in the European Union, making the financing of investment projects in Europe simpler, more efficient and more flexible. The programme consists of three elements: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented by financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will support the investment projects of the implementing partners, increasing their risk-bearing capacity and thus mobilising at least €372 billion in additional investment.

About 123 Investment Managers

123 Investment Managers is an independent management company based in Paris specialising in private equity, private debt and real estate. 123 IM manages € 1.3 billion in assets and offers private and institutional clients a full range of Funds and Club Deal. As a multi-specialist investor, 123 IM has invested € 2,5 billion and supported more than 900 unlisted companies in the health, tourism and real estate sectors. After signing an initial guaranteed financing package of €50m in 2019 under the Innovfin programme and a second of €75m in 2021 under the EGF programme, 123 IM has just obtained an additional package of €15m specifically dedicated to the ecological transition.

Press contacts 

European Investment Bank Group
Christophe Alix | M:+33 6 11 81 30 99 | c.alix@eib.org
Website: www.eib.org/press — Press Office: press@eib.org 

European Commission
Flora Matthaes, tel: +32 229 83951 | flora.matthaes@ec.europa.eu
https://investeu.europa.eu, #InvestEU 

123 Investment Managers
Franck Duquenoy | M: +33 7 56 27 26 05 | duquenoy@123-im.com