CNP Assurances and Tikehau Capital launch unit-linked product providing individuals with access to PE in the energy transition sector
CNP Assurances and its partner Tikehau Capital (Paris:TKO), an alternative asset management group, are launching the first private-equity unit-linked product on the energy transition theme, exclusively for CNP Patrimoine customers.
“CNP Relance et Climat” provides individual investors with access – through Tikehau Capital’s private equity fund dedicated to the energy transition – to investments in unlisted assets by investing in the real economy to respond to the climate emergency.
Through the partnership, CNP Assurances intends to provide its partners’ individual customers with a unit-linked tool offering an attractive alternative to listed investments through access to a private equity fund hitherto reserved to institutional investors. As a conviction-based investment, it helps to finance the real economy by supporting the growth of companies carefully selected by Tikehau Capital for their growth potential and their contribution to the fight against climate change.
Tikehau Capital launched the first private equity fund dedicated to the energy transition back in 2018. The company itself invested EUR100 million in the fund through its balance sheet, and CNP Assurances is one of the leading investors. It is a globally unique platform aimed at accelerating the growth of European SMEs and intermediate-sized enterprises (ISEs) that are already responding to the climate emergency and contributing to the transition to a low-carbon economy.
Tikehau Capital's energy transition fund, subscribed EUR1 billion by institutional investors, including CNP Assurances, was labelled “Relaunch” at the end of 2020, an initiative set up by the French government as part of the economic recovery plan to address the health crisis.
French savings currently amount to EUR3.3 trillion. The Covid-19 crisis has revealed the equity deficit of SMEs and ISEs and the pressing need to step up the transition to a lower-carbon economy. It is therefore vital that these savings are directed effectively towards financing businesses and the real economy, as they help to build future growth and a production model that is less dependent on fossil fuels.
“We are pleased to offer our partners this new tool to diversify their customers’ savings. In life insurance, this private-equity unit-linked product lends more meaning to savings by contributing to the financing of the energy transition, which will represent the largest investment opportunity in the next ten years. CNP Relance et Climat also contributes to CNP Assurances' commitment to the energy transition and to limiting global warming in accordance with the Paris Agreement,” says Cécile Blondeau-Dallet and François Guilgot, co-Directors of the Engineering and Wealth Management Business Unit of CNP Assurances.
“Global savings represent USD80,000 billion. According to the International Energy Agency, 10 per cent of these savings could be used to meet the investment needs of the next ten years for the energy transition and thus respect the Paris Agreement and the recommendations of the IPCC2, which aim to limit global warming to below two degrees. We believe that this is an achievable objective and that this fund is aligned with that goal. Through this initiative with CNP Assurances, we are bringing individual investors the opportunity to contribute to restoring the investment capacity of companies coming out of the crisis. At the same time, it responds to their growing demand to give meaning to their savings while providing them with a revaluation of their investments,” says Emmanuel Laillier, Head of Private Equity for Tikehau Capital together with Mathieu Badjeck and Pierre Abadie, co-managers of the energy transition fund of Tikehau Capital.