(Boursier.com) — Amundi European leader in asset management, announces the launch of the Amundi Ambition Agri-Agro Direct Lending Europe (AAAA) impact investment program and the first closing of its institutional vehicle with a commitment of 130 million euros from the group Agricultural credit. As part of the Crédit Agricole group’s societal project, this program aims to finance pan-European companies in the agricultural and agri-food sectors engaged in a transition towards a more sustainable model. The program’s fundraising objective is 750 ME.
The European Union, the third largest agricultural power in the world with nearly 1.3 million players, and the leading exporter of agri-food products, has significant unaddressed financing needs to date, estimated at 20-40 billion euros per year. .
This funding is necessary in order to adapt the European agricultural and agri-food system to a low-carbon model, allowing the preservation of natural resources and guaranteeing food sovereignty.
A strategy serving the financing of SMEs, ETIs, and agricultural cooperatives
The launch of Amundi Ambition Agri-Agro Direct Lending Europe (AAAA) is part of the Crédit Agricole group’s commitment to supporting the evolution of the agricultural and agri-food sectors towards a competitive and sustainable system. As such, more than 130 million euros are provided by the Crédit Agricole group from the launch, demonstrating strong commitment and alignment of interest with other investors in this program.
AAAA pursues an impactful direct lending strategy managed by the Amundi Real and Alternative Assets Private Debt team. It aims to support the development of SMEs, mid-sized companies and cooperatives in the agricultural and agri-food sector in Europe, through various senior unitranche and subordinated debt instruments.
Since 2012, Amundi’s Private Debt team has already invested more than 2 billion euros in the real economy to support the agriculture and agri-food sectors, with a prudent approach to the selection of opportunities. financing. The team relies on a vast network of European partners, including the Crédit Agricole group, to identify projects to finance.
The program’s fundraising objective is 750 ME. The marketing period for the institutional vehicle will extend over 12 to 18 months. The average return objective is 3-month EURIBOR +7% gross.
Focus on impact strategy
The impact strategy implemented by the institutional vehicle and which will be applied to the other vehicles in the program corresponds to article 8 SFDR. It is part of the action framework defined by the Crédit Agricole group which is structured around two main axes: the preservation of natural resources and the transition to a low-carbon economy.
In this framework, precise objectives and commitments are made in terms of additionality (access to financing for SMEs-ETIs), intentionality (positive and concrete contribution to the transition) and measurability (precise criteria which guide investments ) giving rise to adjustments to the cost of financing granted.
Jean-Pierre Touzet, Director of the Agri-Agro Division – Guarantee – Development Capital of Crédit Agricole SA: “This new fund offers business and cooperative managers in the agri-agro sector an alternative and complementary financing offer to the classic debt. It complements the Crédit Agricole group’s “Ambition Agri-Agro” range of financing and investment instruments, which relies, in particular, on a private equity fund managed by IDIA Capital Investissement and a private equity fund. innovation capital managed by our partner Supernova Invest, already operational. Let us also remember that our ambition is to mobilize a total of 1 billion euros to finance these agri-agro transitions.”
Dominique Carrel-Billiard, Director of the Real and Alternative Assets Business Line at Amundi, comments: “With this ambitious program which is fully in line with the societal project of the Crédit Agricole group, Amundi continues to participate in financing the transition of economic players, particularly in a key sector for the European economy and the fight against climate change.”
Thierry Vallière, Director of Private Debt at Amundi, concludes: “We want to offer investors an innovative investment solution that will support companies in the agri-agro sectors in leading their strategic changes towards a competitive and sustainable system. We We are confident in our ability to deploy financing quickly and secure our investments in the sector, thanks to the depth of our sourcing and the quality of our selection process.”