BRIDGE IV Senior Energy Transition
Fund Profile
Fund Description
BRIDGE IV Senior Energy Transition is an investment vehicle, part of Benjamin de Rothschild Infrastructure Debt Generation IV (BRIDGE IV), which consists of one more sub-fund focused on higher yield debt. It is managed by Edmond de Rothschild Asset Management and seeks both greenfield and brownfield investments in energy transition assets, as defined under the French government’s Energy and Ecological Transition for Climate Label (TEEC). The label covers a broad range of asset types, and allows for investments in sectors such as: renewables energy, social infrastructure, telecoms, and transport.
The 2018-vintage sub-fund has a target size of €500 million. It is a 10-year vehicle seeking investments up to 30 years and targets institutional investors – mainly pension funds and insurance companies, typically coming from Italy, France and Germany. The vehicle raised roughly €200 million at first close, held at end of July 2018 - 2 months after fundraising launch. The manager was expecting to hold final close in July 2019. Final close was eventually held in January 2020 with the fund raising around €800 million.
BRIDGE IV Higher Yield targets assets with a similar risk profile to previous BRIDGE funds, but seeks a higher spread of 5-7% through holdco, mezzanine or other subordinated debt investments.