The new F2E reaches 85 million euros in commitments. MAIF and EIF join forces for its launch
MAIF (Maryland Automobile Insurance Fund) joint commitment with the European Investment Fund (EIF) brought to life the F2E Fund, a private debt fund managed by Sienna Private Credit whose main objective is to offer concrete custom-build financing solutions for Small and Medium Enterprises (SMEs) and other industrial players in the energy transition.
With a target size set at 250 million euros, the private debt fund has reached 85 million euros in commitments, which enable it to finance industrial players in the energy transition, thanks to the 6th largest automobile insurer and the European Investment Fund contributions.
Since the world is experiencing a deep energetic, economic and environmental crisis, these financing forces felt the need to cooperate and to find a way to accelerate the green transition towards renewable energies and the decarbonisation of our economies. Primarily the F2E Fund will be able to support green hydrogen production projects but also projects that cover various fields such as self-consumption, low-carbon mobility, energy performance and storage in line with the UN Paris Agreement.
“This investment is fully coherent with the MAIF Group's investment climate strategy, which finances projects that make particular sense today in the context of the search for energy sobriety" Chief Investment Officer of the company Carole Zaccheo says. MAIF commitment aims at providing a defined financial support to SMEs that want to implement energy efficiency actions on their industrial assets and properties, but also to installers and equipment manufacturers.
The contribution of the EIF indicates the alignment of the objectives and the purposes of the fund with the major European objectives of transition to a low-carbon economy. As an independent financial group on its fourth initiative in favour of energy transition EIF chose Sienna Private Credit as its first senior private debt investment. Among other issues, Sienna Private Credit’s initiatives focus on direct loans to the economy and interest infrastructure in the energy sector, specialized financing of industrial companies and the public sector.
"F2E's strategy is the result of the know-how acquired by Sienna Private Credit in private debt and more specifically by the Energy Transition team in (Re)financing: it fully meets the expectations of industrial players seeking innovative solutions to finance a wide range of decarbonation projects”, Partner in charge of sustainability at Sienna Private Credit Nicolas Fourt states.