Gingko Fund 2 announces first close
Ginkgo Advisor has recently announced the first closing and launch of its second fund, Ginkgo Fund II, which targets the sustainable remediation of brownfield sites in urban areas.
The fund will be supported by the European Fund for Strategic Investments (EFSI) and its principal investors include the European Investment Bank (EIB), Caisse des Dépôts, the Edmond de Rothschild Group and Société Fédérale de Participations et d’Investissement (SFPI).
The EIB and Caisse des Dépôts resolved to demonstrate their continued confidence in Ginkgo Management by committing up to EUR30 million each in the fund. The Edmond de Rothschild Group and SFPI invested nearly EUR10 million each.
Buoyed by the renewed trust of its founding investors and the arrival of new investors, Ginkgo Fund II announces the success of its first closing and confirms its total fundraising objective of EUR140 million by the end of the year.
Like its predecessor, Ginkgo 2 will continue to operate mainly in France and Belgium, generating value added for all the parties involved in projects designed to clean up contaminated brownfield sites, i.e. the owners of the polluted land, local and regional authorities, builders/developers and the final users.
Bruno Farber, Ginkgo’s CEO, said:
“The successful launch of Ginkgo 2 was made possible by the very strong loyalty of our original investors, virtually all of which have doubled their commitment by reinvesting in Ginkgo 2”.
Jyrki Katainen, the Vice-President of the European Commission responsible for jobs, growth, investment and competitiveness, added:
"Support from the EFSI allowed the EIB to invest more rapidly in Ginkgo - and then private investors followed. This is an excellent project for urban renewal and development: green investment at its best."
Gabrielle Gauthey, Caisse des Dépôts Director for Investment and Local Development, commented:
“Caisse des Dépôts decided to demonstrate its continued confidence in Ginkgo by investing in the new Ginkgo Fund 2, which should enable it to rapidly start work on sites in urgent need of remediation.”
Country news
-
-
May 09, 2016
French concessionaire issues 500 million 10 year bond with 1 coupon
VINCI has announced the successful placement by ASF (Autoroutes du Sud de la France) of a €500 million (US$570 million) bond issue maturing in May 2026 with an annual coupon of 1%. Read more -
May 09, 2016
Meridiam closes Meridiam infrastructure europe III at 1.3 billion
Meridiam has recently announced closing of a new fund, Meridiam Infrastructure Europe III at EUR1.3 billion (US$1.5 billion). Meridiam's fundraising generated strong investor interest which led to a firm demand of EUR2.2 billion (US$2.5 billion). The fund was closed in four months. Read more -
April 21, 2016
KB Insurance and Natixis enter infrastructure and aviation co-investment agreement
KB Insurance Ltd, engages in non-life insurance related business in South Korea, and Natixis SA, a French corporate and investment bank, have recently announced that they have signed a partnership agreement to co-invest in infrastructure and aviation debt originated by Natixis. Read more -
April 14, 2016
France´s largest optical fibre PPP contract achieves financial close
The Marguerite Fund and co-sponsors have closed financing to develop a high speed fibre to the home (FTTH) telecommunications network in Alsace France. Read more -
April 13, 2016
La Banque Postale AM announces fundraising for infra debt fund
La Banque Postale Asset Management (LBPAM), a French fund management company, has achieved the first closing of two debt funds focused on real estate and infrastructure. Read more
