French asset manager Amundi has launched a private equity fund aimed at investing in small- and mid-sized firms providing decarbonisation solutions. The Amundi Private Equity Transition Juste fund will invest in privately-held companies that have a dual purpose: decarbonising the economy while minimising any potential social harms. It will take minority stakes of between €3m and €20m. The fund has so far raised €100 million (US$100 million), including €30 million from French state-owned Banques des Territories, and plans to double that to €200 million, Amundi said in a statement. The fund will be an Article 9 product under the EU Sustainable Finance Disclosure Regulation (SFDR). “This new fund has been designed not only to provide financing for the environmental transition, but also make it more inclusive,” said Laurence Laplane, Head of Impact Investing at Amundi Real & Alternative Assets. “We are convinced that the low-carbon transition will only be successful if it manages to combine environmental impact with social inclusion,” he added. François Wohrer, Chief Investment Officer at Banque des Territoires, said the fund was “fully in tune with Banque des Territoires’ strategic priorities of working towards more sustainable and inclusive territories, and with its more global action in favour of the development of impact finance”.
