(CercleFinance.com) – Societe Generale announced on Monday that it was going to join forces with the Canadian investment company Brookfield Asset Management to launch a private debt fund worth ten billion euros.
The French banking group specifies that this strategic partnership aims to create and distribute high quality private debt investments through a fund with a high credit rating (‘investment grade’).
The fund specifically aims to meet the needs of insurance companies, with products tailored to their rating and duration requirements.
“This pioneering approach represents a unique alignment of interests between two leading players in their respective fields,” commented Slawomir Krupa, CEO of Societe Generale, quoted in a press release.
Brookfield, which will provide its own capital and that of its institutional clients, evokes for its part the constitution of a quality and ‘tailor-made’ offer, which should make it possible to support essential industries, at the base of the world economy.
The EUR 2.5 billion seed fund will focus on two strategies, one relating to the lending of real assets in the sectors of electricity, renewable energies, data , energy storage and transport and transport, and the other dedicated to fund financing.
Following this announcement, the Societe Generale title rose by 1.7% on Monday in the first exchanges, signing one of the largest increases in the CAC 40 index at the start of the day.
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