The pension funds PostNL and Slagers have committed a joint €220m to a new impact private debt fund managed by Eiffel Investment Group. The investment fund will provide loans to small and medium enterprises in the Benelux region and will finance energy infrastructure projects in Europe.
The fund consists of two subfunds, each pursuing a distinct impact-driven private credit strategy, Eiffel Investment Group said.
One of the funds finances SMEs and energy transition projects in the Benelux region, while the other provides short-term secured loans for energy infrastructure across Europe.
Eiffel Investment Group, which has €7bn in assets under management, is a Paris-based asset manager focused on sustainable investments in private debt, private equity and infrastructure as well as listed equities and credit.
The fund, which has a target size of €500m and is open to other institutional investors, follows a strict Article 9 approach, incorporating clear and measurable indicators aligned with the goals of the Paris Agreement.
“The solution directly contributes to increasing the renewable energy capacity installed and supports local small and mid-cap companies. From a systemic perspective, meeting the target for renewable energy locally contributes to energy independence and reduces pressure on nature caused by energy generation,” said Fabrice Dumonteil, chief executive officer of Eiffel Investment Group.
Increasing demand
“We are seeing increasing demand from institutional clients for strategies that deliver both return targets and measurable impact, especially locally. Together with Eiffel Investment Group, we are offering solutions that respond to this need and contribute to the sustainable transformation of the economy,” added Wilse Graveland, head of fiduciary management and institutional solutions at Van Lanschot Kempen Investment Management, the fiduciary manager of both Pensioenfonds PostNL and Pensioenfonds Slagers.
Both pension funds already have a number of impact investments. In 2022, the €9bn PostNL scheme invested €400m in two SDG impact equity funds managed by M&G and Hermes.
The Slagers fund, which caters to the butchers’ industry, has invested 5% of its assets in impact funds. In its annual report for sustainable investment, the scheme announced it would “widen the scope” of its impact investments in 2025.
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