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Schelcher Prince Gestion’s expertise in Private Debt recognised by the European Investment Fund

  •  
    Date: 18 September 2019

The European Investment Fund (EIF) is investing in the SME compartment of SP EuroCréances 2018, a private debt fund focusing on Senior Secured Debt to French SMEs and managed by the private debt team at Schelcher Prince Gestion.

This is one of the very first investments, and the second one in France, made by the European Investment Fund under the “Private Credit Tailored for SMEs” programme, the new investment programme for debt funds that combines resources from the EIF and the Investment Plan for Europe, or Juncker Plan, for a total of €1 billion. The purpose of the “Private Credit Tailored for SMEs” programme is to foster private institutional investment in support of more market-based and tailor-made funding solutions for European SMEs and small mid-caps.

SP EuroCréances 2018 promotes a pan-European investment focus by targeting SMEs in various EU Member States (e.g. France, Belgium, Netherlands and Luxembourg). The fund targets an international investor base, focused on France and Western Europe. With an investment of €40 million, the EIF is supporting Schelcher Prince’s strategy to finance SMEs with a safe investment approach.

Elżbieta Bieńkowska, European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: “By investing in private debt funds, we are promoting more cross-border investments in Europe. With the help of the Investment Plan guarantee, the European Investment Fund is supporting small and medium business across EU Member States. I encourage SMEs in those countries to make full use of this extra source of financing”.

Sébastien Barbe, Chief Executive Officer at Schelcher Prince Gestion, commented: “The EIF’s confidence in Schelcher Prince Gestion reflects the merit of our credit risk approach to SME investment. It represents a significant step forward for our private debt business, which was created in 2014. It is also a great source of pride for the team”.

Diversified debt funds offer small businesses an alternative to classic bank loans, including bespoke debt packages, speedy deployment and flexible approach”, said Alessandro Tappi chief investment officer of the European Investment Fund. “The goal of our “Private Credit Tailored for SMEs” programme is to support Europe’s growing private credit market and we are glad to be partnering with Schelcher Prince Gestion and offering this type of innovative funding to SMEs in Europe”.

SP EuroCréances 2018 is the third fund of its kind and targets a return for investors of 4.5%, on a par with previous funds launched in 2014 and 2016. The first closing is due this autumn for a total amount expected to exceed €300 million and with the support of 22 institutional investors including the EIF and Suravenir, the Crédit Mutuel Arkéa group’s insurance company that has invested in all of Schelcher Prince Gestion’s private debt funds since the activity was launched in 2014. The fund will remain open for subscription for a year.

About Schelcher Prince Gestion

Schelcher Prince Gestion, an affiliate of the French banking group Crédit Mutuel Arkéa, was founded in 2001. It has long-standing and recognised expertise in its specialist fields, namely convertible bonds, fixed income, credit – investment grade and high yield – and private debt.

Schelcher Prince Gestion has 40 employees and manages €5 billion on behalf of French and international third parties. Since 2016, Schelcher Prince Gestion has been integrating ESG criteria in its investment strategies and is a signatory of the PRI.

Since 2014 Schelcher Prince Gestion has put credit risk measurement at the heart of its investment philosophy. It was one of the first French asset management teams to apply the “Expected Loss” methodology originally intended for banks in regulation (EU) n° 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions into the asset management. With AuM of €1.2 billion in private debt, Schelcher Prince Gestion has a 5-year track record of managing this innovative strategy.

About the European Investment Fund

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its main goal is to help microenterprises and SMEs access financing. The EIF designs and deploys venture capital, growth capital, guarantee and microfinance instruments specifically targeted at this market segment. Its activities foster the EU’s objectives to promote innovation, research and development, enterprise creation, growth, and job creation (www.eif.org/www.eib.org).

About the Investment Plan for Europe

The Investment Plan for Europe (Juncker Plan) was launched in November 2014 to reverse the downward trend in investment levels and put Europe on the path to economic recovery. Its innovative approach based on the use of an EU budget guarantee provided to the EIB Group has enabled and continues to enable substantial public and private sector funds to be mobilised for investment into strategic sectors of the European economy. The Juncker Plan has already generated some €424 billion of investment, including almost €70.4 billion in France, and supported 967,000 SMEs across Europe.

Press Contacts:

FEI :
Cyrille Lachevre
+336 20 42 12 08
c.lachevre@ext.eib.org

Schelcher Prince Gestion : Steele&Holt

Servane Tasle
+336 66 58 84 28
servane@steeleandholt.com
Sophie Lhuillier
+336 33 73 85 16
sophie@steeleandholt.com

Gaétan Pierret
06 30 75 44 07
gaetan@steeleandholt.com

 

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