RAISE, a French asset manager focused on sustainable finance, has recruited a team from EDF.PA, the investment arm of power giant EDF, to lead an infrastructure fund. The fund aims to raise 750 million euros ($826 million) to accelerate the decarbonisation of Europe’s energy, telecoms, and transportation sectors. The newly appointed managers, Fanny Grillo and Pierre Benoist d’Anthenay, stated that RAISE Infrastructure will target unlisted companies and work towards transitioning them to a lower-carbon future, while also promoting biodiversity preservation in their supply chains. The team plans to invest in these companies by acquiring majority stakes or utilizing special purpose vehicles to provide financing for specific assets.
Grillo expressed the objective of transforming existing assets and initiating a new trajectory for these investments, with a belief that transitioning to a lower-carbon model will generate value. Romain Meiller, another former EDF colleague, has also joined the team at RAISE.
Established in 2013, RAISE is headquartered in Paris and manages assets worth 1.9 billion euros. The firm places a strong emphasis on sustainable finance and commits to donating half of the carried interest, the compensation earned by private equity managers, to philanthropic causes. Benoist d’Anthenay, previously responsible for managing EDF Invest’s global portfolio, highlighted the significant opportunities for funds that can effectively support companies in their transition away from carbon. He noted that many firms lack the necessary expertise to decarbonize, and an estimated investment of 28 trillion euros will be required to help Europe achieve its goal of net-zero emissions by 2050.
EDF Invest, the investment subsidiary of France’s EDF Group, manages the unlisted assets of the company and oversees over 9 billion euros of equity globally, according to its website.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.