RIVE Private Investment (123Venture Group & Elyseum Investment) announces €10.5 Million in mezzanine refinancing for the Croix-Benjamin wind farm.
Straddling two French departments, Aube and Marne, the park is located in the towns of Potangis, Esclavolles-Lurey, Périgny-la-Rose and La Villeneuve-au-Châtelot. The Idex Group, in close cooperation with local elected officials, launched the project at the end of 2004. Akuo Energy purchased the related rights and authorization and completed its development. The 28 MW park was commissioned in August 2014.
RIVE Private Investment advised and helped, in partnership with Akuo Energy, the refinancing of the construction bridge loan previously provided by Capital Riesgo Global, a Banco Santander subsidiary. CIC and Société Générale have provided the bank debt. Akuo Energy will operate the park equipped with fourteen Vestas V90 2MW windmills that will be maintained by the manufacturer.
RIVE Private Investment confirms its ability to provide flexible financing solutions alongside industrial partners or investment funds. RIVE Private Investment is involved in both capital and mezzanine debt for either greenfield or brownfield projects, offering variable financing maturities. Jean-Philippe Olivier, Partner at RIVE Private Investment, underscores: “We continue to show our ability to provide financing to project initiators, regardless of the project’s state of development or the type of funds brought as equity or quasi equity, and in extended geographic locations.”
About RIVE Private Investment
RIVE Private Investment is an independent private equity player founded in 2013 by two investment management firms (Elyseum Investment and 123Venture). RIVE Private Investment draws upon the combined resources and expertise of its shareholders in order to develop flexible, opportunistic and defensive investment solutions specifically for institutional investors and family offices.
RIVE Private Investment targets investment opportunities mainly across Europe and North America, focusing on three defensive sectors, namely infrastructure investments, asset finance and mezzanine debt financing.
Through its shareholders, RIVE Private Investment benefits from the talent and expertise of over fifty investment professionals located in four European countries. These teams have a solid track record and to date have invested over €1.0 Billion in these sectors.