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20.12.2021
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Ginkgo 3 is the third vintage dedicated to sustainable brownfield remediation and redevelopment in Europe.
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The fund has reached its final closing with EUR 365 million of capital commitment
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Ginkgo 3 marks EIF’s first investment in its new Infrastructure and Climate Funds business line
Edmond de Rothschild Private Equity in partnership with Ginkgo Advisor, the investment advisor, has reached the last and final closing of Ginkgo 3. After Ginkgo 1 (2010) and Ginkgo 2 (2016), this third vintage dedicated to the decontamination and redevelopment of contaminated land plots in Europe has increased in size and geographical scope to bette contribute to sustainable urban regeneration.
A total of EUR 365 million of capital has been committed to Ginkgo 3 in 8 months by institutional investors including the EIF, Banque des Territoires and Edmond de Rothschild, as well as a number of private investors all across Europe. With EUR 30 million in capital commitment, the European Investment Fund (EIF) is amongst the largest contributor to the fund and will be represented at the supervisory committee.
Five brownfield remediation and redevelopment projects have already been approved by Ginkgo 3’s general partner in France, Italy, Portugal and The Netherlands. Several projects are under exclusivity and are expected to be submitted for approval to the General Partner before year end. The project pipeline is plentiful and capital deployment is swift. Categorized as Article 9 in the SFDR regulation, Ginkgo 3 has clear sustainable goals. The fund’s objectives reflect the commitment of its sponsor, the Edmond de Rothschild Group, and of its limited partners to achieve financial performance alongside intentional and measurable social and environmental impacts.
Johnny el Hachem, Chief Executive Officer of Edmond de Rothschild Private Equity, declares : « We are delighted with the success of this new vintage, initiated more than 12 years ago and emblematic of our investment convictions: building forward-looking strategies that meet the societal challenges of tomorrow. The success of the fund raising illustrates the growing interest of investors for impact investing strategies with a track record and their trust in the ability of our teams to deliver. »
Alain Godard, Chief Executive at European Investment Fund: “Scaling up finance for green urban development is essential to meet Europe`s ambitious climate targets. At the EIF, we are delighted to announce the first investment under our new Infrastructure and Climate Funds business line into Ginkgo 3. We are committed to work closely with our partners to support the objectives of the European Green Deal.”
Pascal Roudier, Bruno Farber and Guillaume Ribet, the partners of Ginkgo Advisor, add: “We have the benefit of 12 years of experience in the field of brownfield remediation and redevelopment in Europe and we have built a very specialized team to support our growing ambitions. We are particularly honored by the trust of the EIB Group for this third vintage. The EIF has helped us to go the extra mile in terms of setting up our impact investing framework and provides us with an unvaluable label of quality.”