The first fund managed by Marguerite, the 2020 European Fund for Energy, Climate Change and Infrastructure (“Marguerite I”), was established in 2010 with the backing of six major European public financial institutions and the European Commission, with EUR710m of commitments, to make capital-intensive infrastructure investments within the EU.
Marguerite I is now fully invested and has accomplished its initial targets, having committed over EUR 700m equity and quasi-equity capital to 20 investments in 13 member states, across all target sectors, acting as a catalyst for projects with an aggregate size of over EUR 10 billion.
The successor fund, Marguerite II, continues the important work of Marguerite I as a pan-European equity fund which aims to act as a catalyst for greenfield and brownfield infrastructure investments in renewables, energy, transport and digital infrastructure, implementing key EU policies in the areas of climate change, energy security, digital agenda and trans-European networks.
The European Investment Bank has committed EUR 200 million, of which EUR 100 million are guaranteed by the European Fund for Strategic Investments (EFSI), alongside EUR 100 million each from five National Promotional Banks. Marguerite II has a capacity to invest in projects across the EU and in the pre-accession countries, and has a 10-year fund life (with up to 2 one year extensions).
Marguerite also manages Marguerite Pantheon SCSp, an investment vehicle wholly owned by a pool of funds and managed accounts run by Pantheon, a global private markets fund investor. Marguerite Pantheon SCSp was established to acquire a portfolio of renewable and concession-based assets from the Marguerite Fund.
Marguerite Pantheon SCSp enabled Pantheon to acquire what it assessed to be a mature, stable and well diversified portfolio of renewable and concession-based assets across diversified jurisdictions, sectors and technologies in Europe. All assets are fully operational and are currently generating predictable stable cash distributions, underpinned by robust regulatory regimes, feed-in-tariffs, and/or contracted revenues with strong creditworthy counterparties.