Paris-based Sienna Funding Managers (Sienna IM) has launched the Sienna Biodiversity Non-public Credit score Fund, with a €200m (£165m) goal.
The fund, which is likely one of the first non-public debt impression funds devoted to the preservation and restoration of biodiversity in Europe, has already obtained a €100m dedication from mutual insurance coverage firm Malakoff Humanis Group.
Sienna IM is a pan-European asset supervisor with €40bn of belongings beneath administration, of which greater than 80 per cent are categorised as Article 8 or 9 beneath the SFDR regulation.
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Sienna Biodiversity Non-public Credit score Fund is classed as Article 9 and primarily addresses three of the 5 pressures that immediately have an effect on biodiversity, specifically the transformation of land and seas, air pollution, and the direct exploitation of organisms. It is usually a part of the Kunming-Montreal World Biodiversity Framework.
The fund focuses on options for biodiversity, corporations engaged in a transition course of, these aimed toward lowering their unfavourable impression on biodiversity, and favours corporations that considerably outperform their sector’s practices when it comes to biodiversity preservation.
Every financed firm could have been subjected to an in-depth evaluation by Sienna IM, primarily based on the experience of the Quebec environmental options firm Habitat.
Sienna IM has established a community of biodiversity specialists that may be known as upon relying on the sector coated by the financing into consideration.
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The fund will take a multisectoral strategy, drawing on mid-market company financing, actual property debt, vitality transition, and public sector. Sienna IM mentioned that the differentiating issue of the fund addresses the multifaceted nature of biodiversity.
“We provide this distinctive fund to buyers who’re delicate to the widespread footprint left for future generations on ecosystem companies, which we profit from at the moment,” mentioned non-public credit score managing director Laurent Dubois. “As a dedicated participant, Sienna IM pursues a privileged dialogue with the businesses financed with the intention to assist them within the context of initiatives preserving or restoring biodiversity.”
Aurélie Baudhuin, funding director of Malakoff Humanis, added: “As buyers, we have now a decisive accountability: we should additionally encourage the event of progressive strategies for measuring the footprint of actions on pure sources. This isn’t solely an environmental crucial, but in addition an important lever to make sure resilient and sustainable efficiency in an financial framework present process profound change.”
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