Dexia announces the second closing of South Europe Infrastructure Equity Finance (SEIEF, the Fund), a private equity fund targeting medium size investments predominantly in France, Italy, Spain and Portugal.
SEIEF, sponsored by Dexia and the European Investment Bank (EIB), is managed by European Public Infrastructure Managers (EPIM), an independent management company. It seeks investment opportunities in public-private partnership (PPP) schemes arising from favourable new regulations in the context of tight public budget constraints in the target countries.
For its first closing in 2006, the SEIEF Fund raised Euro 80 million from its two lead sponsors Dexia and EIB, as well as two other European financial institutions, Banco Sabadell, the Fund¿s sponsor for Spain, and Banca Popolare di Verona e Novara, the Fund's sponsor in Italy. SEIEF just raised for its second closing an additional Euro 40 million bringing the overall investor commitments to the Fund to Euro 120 million with the entry of two new financial institutions : Holding Communal of Belgium and Caixa Geral of Portugal, the Fund's sponsor in that country.
Key sectors pursued by the Fund are social infrastructure (hospitals, schools, government buildings, etc.), urban development (mass transport systems, car parks, etc.), inter-city transportation, and environment (water, waste treatment, etc.). The SEIEF Fund may invest in new projects, and may also take equity interests in existing infrastructure companies. The first investment made by SEIEF is a minority equity interest in two rolling stock companies in connection with Metro de Madrid, a Spanish public entity managing the city¿s subway system. SEIEF is currently working on a number of new investment opportunities, including as a member of various bidding consortia for which tenders are underway.
Dexia, a European banking group, world leader in Public Finance is a leading player in infrastructure finance. For 2006 and 2005, Dealogic ranked Dexia #1 worldwide among the Mandated Arrangers of Global PFI/PPP Project Finance Loans.
The EPIMmanagement team, is led by François Jobard who has more than 15 years of experience in infrastructure with industrial and services companies, and includes Aule Dalamel de Bournet, who has over 10 years of experience in investment fund management and Christophe Rotticci, who previously held project finance positions with leading financial institutions. EPIM is headquartered in Luxembourg and has offices in Paris, Rome and Madrid staffed with local experienced professionals.
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