SCOR reveals €320m SCORLUX Infrastructure Loans IV closing
SCOR Investment Partners, the asset management company of France’s SCOR Group, has revealed an intermediary closing of the fourth vintage of its senior secured infrastructure debt strategies, SCORLUX Infrastructure Loans IV, with commitments of €320 million.
The fund, classified as Article 9 under EU’s Sustainable Finance Disclosure Regulation (SFDR), builds on the success of its predecessors by investing exclusively in projects with positive environmental or social contributions and was granted the LuxFLAG Environment Applicant label status.
SCOR Investment Partners’ Infrastructure team, led by Paola Basentini, has been an active investor in European infrastructure since 2013 and has invested more than €1.8 billion on behalf of global clients.
The seasoned team, who has completed a total of 681 infrastructure debt projects across Europe, has already invested the fund in 10 projects that represent their core sustainable asset investment convictions, including: fiber networks, energy efficient data centers, renewable energies and green transports, across France, Spain, Germany, Italy and the Netherlands. This diversified portfolio reflects the team’s strong market access. Predominantly exposed to floating rate projects, the fund is expected to deliver a gross internal rate of return of close to 5.5%2.
The fund, for which the SCOR group is an anchor investor, received support from both new and existing institutional investors.
SCORLUX Infrastructure Loans IV’s fundraising continues towards its target size of exceeding €700 million.
Fabrice Rossary, CEO of SCOR Investment Partners, said: “This closing confirms the attractiveness of infrastructure investments in this current economic environment, as well as the trust our investors place in our team and investment strategy. Providing strong inflation protection, these infrastructure investments deliver competitive risk-adjusted returns while positively impacting the real economy. The strategy remains particularly well-suited to current economic conditions and the pipeline of opportunities is strong.”
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