CNP Assurances and Meridiam announce the closing of the Meridiam Transition, a pioneering new fund specialized in long-term investments in the energy transition

Meridiam, a leading French asset management company specialized in long-term private investment in public infrastructure in Europe and North America, and CNP Assurances, the leading personal insurer in France which operates in Europe and Latin America, announced today the closing of the Meridiam Transition fund, with 425 million euros raised in six months from French institutional investors. This fund will finance and support infrastructure projects dedicated to environmental and energy transitions.

CNP Assurances, the project founder and Meridiam, announced the creation of the Meridiam Transition fund at the COP21 held in November 2015 in Paris. With 425 million euros, the Meridiam Transition fund is designed to invest primarily in new infrastructure projects (greenfield) within the energy efficiency sector, including local energy services (including heating networks or the energy recovery waste), electricity and gas networks, as well as renewable energy.

The Meridiam Transition fund will invest as a long-term shareholder in midsized projects with a horizon of 20 years, in France and throughout the European Union.

Meridiam Transition aims at providing an innovative response to the challenges of the energy transition by providing the long-term investments the energy industry needs to achieve its transformation.

Interest of French institutional investors for the energy transition The closing of Meridiam Transition demonstrates the willingness of a large number of French institutional investors to help finance environmental and energy transitions across Europe. Meridiam Transition received support from Allianz France, Aviva France, BNP Paribas Cardif, Crédit Industriel et Commercial, the French Reserve Fund, Pro BTP and Société Générale Insurance.

"CNP Assurances, which was at the initiative of launching this green infrastructure fund, is confident that it is both its responsibility and its long-term investor interest to help develop new financing models to meet the challenges raised by the energy transition and climate change" said Frederic Lavenir, CEO of CNP Assurances.

"After the Meridiam Infrastructure Africa fund, the Meridiam Transition fund is the second impact investment fund launched by Meridiam to meet the challenges raised by the energy transition and climate change” said Thierry Déau, founder and CEO of Meridiam.