French asset manager Mirova has launched the Mirova Impact Life Essentials (MILE) strategy to support the growth of unlisted European companies with strong social-focused performance. The firm aims to raise €200 million (US$218.6 million) from institutional and individual European investors for the vehicle. “At a time when profound paradigm shifts are underway, the launch of MILE is positioned to support this inevitable societal transition, which will impact our lifestyles,” said Judith-Laure Mamou-Mani, Senior Investment Director at Mirova. The fund will target four investment themes: knowledge and skills; mindful consumption; wellbeing and health; and diversity and inclusion. MILE will be classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation, with part of its fees used to finance philanthropic projects. “Convinced that companies developing innovative technological solutions are those with the greatest scope for growth, we are offering our clients the opportunity to combine a positive societal impact with attractive potential returns,” said Marc Romano, Head of Impact for private equity at Mirova.
